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Malaysia’s Electric Utility Says Bitcoin Miners Stole $25M in Power

News Malaysian power utility firm Tenaga Nasional Bhd (TNB) is tightening measures in a bid to stem the millions lost to electricity theft by Bitcoin (BTC) miners. According to an Aug. 15 report from EdgeProp, tampered electricity distribution boards used in local Bitcoin mining operations have co..

US DOE Dedicates $1.05 Mil to Blockchain Energy Management Platform

News The United States Department of Energy (DOE) has awarded a grant worth $1.05 million to organizations working to commercialize a blockchain-based energy transaction platform. From energy management to energy exchangeThe news comes from an August 9 press release shared by energy company ComEd,..

Malaysia: Bitcoin Miners Raided Over Stolen Electricity

Malaysian’s electricity company recently stormed the location of some bitcoin miners suspected to be using electricity illegally. According to a report by the Malay Mail, the electricity utility company suffered a loss of over $760,000 due to the activities of the bitcoin miners. The case of elect..

Malaysian Electric Utility Raids 33 Illicit Bitcoin Mining Facilities

News Authorities raided Bitcoin (BTC) mining operations in Malaysia after finding that they were stealing electricity resulting in a loss of 3.2 million Malaysian ringgit ($760,736) to the utility company. 33 facilities illegally mining BitcoinMalaysian major electric utility Tenaga Nasional Bhd (..

Japanese General Trading Company Backs Blockchain Platform for Wind, Solar

News Marubeni Corp., a major Japanese sōgō shōsha, or general trading company, is now backing a blockchain-based power trading platform. Per a report by Reuters on July 23, Marubeni has issued a loan to Lithuania-based blockchain project WePower. Per Reuters, the size of Marubeni’s stake in WePowe..

Iran Set to Create Special Electricity Tariffs for Bitcoin Mining

The Iranian government has come with a specialized electricity tariff pricing plan for bitcoin mining activities in the country. This solution likely solves the developing issue between crypto miners and Iranian authorities following the recent increase in mining activities in the country. The move..

How Big Hydro Power Partners With Bitcoin Miners to Prevent Energy Waste

We are often told that the verification of bitcoin transactions eats a lot of energy. The largely inaccurate comparison to a small country, the size of Ireland or Denmark, is evoked thanks to numerous clickbait headlines. What mainstream media fails to explain, however, is that bitcoin mining is act..

Iran Finalizes Electricity Pricing Scheme for Cryptocurrency Miners

News The Iranian Economic Commission has reportedly finalized a tariff scheme for cryptocurrency miners, according to a July 21 report from Iranian economic daily Financial Tribune. Per the report, Energy Minister Homayoon Ha’eri announced that, while the tariff scheme has been finalized, it is a..

Police in China Seizes 4,000 Crypto Miners After Abnormal Energy Spike

News Police in China arrested 22 suspects allegedly involved in illegal crypto mining activity that led to energy loss worth of about $3 million, local media outlet XinhuaNet reports on July 12. Police in Jiangsu, China’s eastern-central coastal province, have reportedly seized 4,000 hardware unit..

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