Canada Gets Bitcoin and Ethereum Carbon Neutral ETFs

While the SEC hesitates to approve anything beyond a Bitcoin Futures ETF, Canada has moved leagues ahead on crypto acceptance. Yesterday, Purpose Investments launched another pair of series for its Bitcoin and Ethereum ETFs in the country. Notably, these variants have a structure that specifically help their cryptocurrencies achieve net-zero carbon output. Green Bitcoin and Ethereum ETFs Purpose Investments announced their new exchange products in a press release on Tuesday in partnership with Technologies. Their carbon-neutral series of Bitcoin and…

Jack Dorsey’s Square Considers Building A Global Bitcoin Mining System

Bitcoin-loving-billionaire Jack Dorsey is working on more projects to help protect and scale Bitcoin. His financial services company “Square” might start building consumer-friendly mining machines for use by the general population. Making Bitcoin Mining Accessible Dorsey announced his company’s plans over Twitter earlier today. He followed with a long thread explaining the current problems in the mining industry and why it needs reconstruction. [caption id="" align="aligncenter" width="911"] Jack Dorsey, CEO of Twitter and Square. Source: New York Times[/caption] Twitter's CEO…

Progress With El Salvador’s Geothermal Bitcoin Mining Project

El Salvador has continued to stay fresh among crypto investors. The country made a landmark decision to approve Bitcoin as a legal tender earlier this month. However, El Salvador isn’t stopping there. The government has found another frontier to conquer - the mining space. Turning Volcanoes to Money On Tuesday, El Salvador’s president Nayibb Bukele teased a coming geothermal crypto mining operation. Bukele shared a video on Twitter. In it, he revealed progress with work on the facility. The proposed…

The Evolution of Bitcoin Mining From Satoshi to Till Now

As the world continues to embrace cryptocurrencies, so too do they evolve. Evolution affects many of their processes and functions.  Bitcoin, your premier digital asset, isn't exempt from these changes. One important process where it has undergone tremendous change is in Bitcoin (BTC) Mining. So what is Bitcoin Mining? What's its importance? How has Bitcoin Mining evolved with time, and what's its future? Well, this article takes you through the evolution of Bitcoin mining. The process will help you understand…

Mechanicville Plant Suggests Mining Bitcoin is Profitable than Supplying Electricity

The Mechanicville NY plant operated by Albany Engineering Corp. has shifted to mining Bitcoin, saying that it brings more profit than selling electricity.  The company's operation started in 1897 as a hydroelectric plant, and it now plans to use some of its energy for Bitcoin mining. According to its CEO, Jim Besha, they expect that the new venture will earn them more money than providing electrical power to Nationwide Grid. Bitcoin Mining and Electricity  Bitcoin mining is an energy-intensive activity…

Western Miners Cultivate More Returns as China’s Crypto Mining Crackdowns Persists

Bitcoin mining companies in the west yield has become more accessible and profitable, as the pool of miners competing to form tokens shrinks due to China's strict crackdown on the country's crypto operations. Miner competition is currently at a considerable low; thus, mining companies are seeing higher profits. Moreover, these profits are more significant than the losses due to the drop in BTC. Therefore the gains are positive overall. Stock prices of some of the biggest bitcoin mining companies saw…

A Deep Dive into China’s Bitcoin Mining and Crypto Crackdown 

For the past two weeks, top headlines from the crypto space have been on the Chinese crackdown on cryptocurrencies and Bitcoin mining. The country has embraced the technology underpinning bitcoin and has ambitions to implement its digital yuan managed by its central bank. China is now attempting to push its cryptocurrency activities forward.  On the other hand, Beijing is trying to ban crypto mining since they require vast amounts of electricity, often from coal-fired power stations, while the country has…

7 Major Limitations of Mining Bitcoin

Since its introduction in 2009 by Satoshi Nakamoto, Bitcoin has realized widespread adoption with substantial value growth. Bitcoin is currently the most prominent cryptocurrency in market capitalization with over 100 billion dollars. Its’ value has soared enormously since the launch despite several bearish runs that saw it lose value. Bitcoin relies on a highly replicated public ledger as a decentralized currency, secured utilizing a hash and validated via community consensus. On the Bitcoin network, a transaction is considered valid and…

Kentucky Lawmakers Offer Tax Break to Crypto Miners

The state of Kentucky lawmakers has voted to approve a bill providing tax breaks to crypto miners. This development could herald the transformation of Kentucky into a significant crypto mining haven in the United States.  Crypto Mining Bill Approved  U.S news outlet the Lexington Herald revealed this development in a report on Tuesday. According to the report, the Kentucky House budget committee approved a crypto bill tilted House Bill 230. The bill sought to remove sales tax dues from electricity purchased by…

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