In our “Mining” section, we cover everything related to cryptocurrency mining and blockchain network security. Here you will find information about mining hardware, mining pools, profitability, and the technologies behind validating transactions. Read the “Mining” section on ForkNews to learn how cryptocurrency mining works and stay updated on the latest developments.
There are more and more people wanting to make money through hidden mining every day. Thus, the extraction of digital currencies using the CoinHive service has already reached the websites of government agencies.
On March 13, law enforcement officers detained loaders suspected of stealing equipment for cryptocurrency mining. “Employees of the Department for Combating Criminal Encroachments on Cargo of the Line Police Department at Vladivostok Airport, together with the airport cargo terminal security service, identified suspects in the theft of data processing units,” reports the press service of the Ministry of Internal Affairs for the Far Eastern Federal District.
According to the EU Commissioner, cryptocurrency mining is completely legal in Europe and is subject to standard electricity regulations. In a statement released last week, Maria Gabriel, the EU Commissioner for the Digital Economy and Society, explained that the energy-intensive nature of cryptocurrency mining is not inconsistent with regulation.
Canada has become a popular destination for bitcoin miners thanks to its combination of cheap, renewable hydroelectricity and hospitable cold weather. One of these miners is going to attract additional funds to increase the scale of production, strengthen its position in the region and increase competitiveness.
On February 20, the Japanese company Kumamoto-Energy Co Ltd, a Kumamoto-based electricity producer and supplier, announced plans to use solar energy to mine cryptocurrency. For these purposes, a subsidiary company OZ Mining was created, registered in November 2017.
In 2017, the University of Cambridge Global Cryptocurrency Benchmarking Study conducted a study according to which Georgia was in second place in the world, after China, in terms of the power of devices involved in cryptocurrency mining.
There is now a real mining boom on the territory of Belarus, which began after the signing of the decree “On the development of the digital economy” by the President of the Republic Alexander Lukashenko. Representatives of one of the Russian companies announced that they are planning to build an enterprise that will produce equipment for cryptocurrency mining.
Iceland is one of the centers of the mining industry, which criminals have begun to abuse. In the municipalities of Reykjanesbaer and Borgarburdo, there was a large-scale theft of crypto equipment totaling 200 million kroner or $1,990,000.
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