Fun

News Feed - 2023-09-02 04:09:58

Turner Wright4 hours agoKentucky regulator denies plan for subsidizing crypto mining facilityA proposed contract with the Kentucky Power Company would have allowed Ebon International to receive a discounted rate for service at its crypto mining facility over a decade.550 Total views8 Total sharesListen to article 0:00Follow upJoin us on social networksThe Public Service Commission of the state of Kentucky has denied a proposed contract that would have allowed a mining firm to receive a discounted rate on electricity provided by the power company.


In an Aug. 28 order, the commission denied a contract between Ebon International and the Kentucky Power Company that involved a $50 million investment in a crypto mining facility in the city of Louisa. According to the filing, Ebon planned to run a 100-megawatt (MW) mining operation until 2024, then increase the load to 250 MW.


The details of the proposed contract, which were partially redacted, included Kentucky Power providing Ebon a discounted rate for service over 10 years. The commission announced in December 2022 that it planned to review the deal between Ebon and Kentucky Power.Wasteful and exploitative #Bitcoin mining companies across the U.S. want you to pay higher utility prices for the privilege of having your community polluted by Bitcoin’s enormous energy consumption.

We"re glad to see Kentucky regulators pushing back.https://t.co/rtDroKOBhP— Greenpeace USA (@greenpeaceusa) August 31, 2023


Environmental groups Earthjustice and Greenpeace lauded the commission’s decision as a victory for average energy consumers in Kentucky. Joshua Archer, the Bitcoin campaign lead for Greenpeace USA, claimed incentivizing crypto mining firms to set up shop in the state would have burdened taxpayers and contributed to climate change.


Related:Cambridge Bitcoin Electricity Consumption Index updated to reflect hardware distribution and hash rate increases


The state of Kentucky is one of the major Bitcoin (BTC) mining hubs in the United States, alongside Texas, Georgia and New York. Environmental organizations in these areas have pushed for restrictions and bans on crypto mining, resulting in New York signing a proof-of-work mining moratorium into law in November 2022 and a bill removing incentives for miners making it through the Texas Senate in April.


Magazine:Bitcoin miner gets life in prison, China offers bounties for crypto firms: Asia Express# Taxes# Government# Bitcoin Mining# United States# RegulationAdd reactionAdd reactionRead moreWhat is an atomic swap, and how does it work?MiCA: The good, the bad and the ugly of the EU’s crypto rulesWhen will it be too late to invest in Bitcoin?

News Feed

Crypto Users Claim Popular Bitcoin Paper Wallet Generator Is Compromised, Millions Allegedly Stolen
Crypto Users Claim Popular Bitcoin Paper Wallet Generator Is Compromised, Millions Allegedly Stolen A number of forum posts and tweets say that the website bitco
US Senators Introduce Bill Requiring Treasury to Report on Cryptocurrencies and Their Use Globally
US Senators Introduce Bill Requiring Treasury to Report on Cryptocurrencies and Their Use Globally Two U.S. senators have introduced a bipartisan bill aimed at improving the oversi
Bitcoin whale games get traders nervous as 12K BTC appears for sale
William Suberg9 hours agoBitcoin whale games get traders nervous as 12K BTC appears for saleBitcoin order book action is currently marked by significant sell-side liquidity, but this could disappear at any time, analysis
Solana Breaks Above Daily Downtrend – Analyst Expects New ATH Soon
Este artículo también está disponible en español. Solana has kicked off the year with an impressive 12% surge, reaching the pivotal $210 level and reigniting investor opt
Why Quantum Computing’s Threat to Crypto May Be Further out Than Previously Thought
Why Quantum Computing’s Threat to Crypto May Be Further out Than Previously Thought According to one researcher, quantum computing faces more hurdles than many realize when it
ApplePay is the benchmark as crypto mobile payments push for adoption
Gareth Jenkinson10 hours agoApplePay is the benchmark as crypto mobile payments push for adoptionCryptocurrency-based mobile payments must be as functional as Apple Pay and Google Pay to challenge conventional payment se
Cboe’s New Cash-Settled Bitcoin ETF Options: Could This Spark A Move Beyond $100,000?
Este artículo también está disponible en español. Cboe, the derivatives exchange for digital assets and securities trading, is set to make a big addition to the crypto la
Play-to-Earn Gaming Guild Raises $18 Million in Funding Round Led by Animoca Brands
Play-to-Earn Gaming Guild Raises $18 Million in Funding Round Led by Animoca Brands A play-to-earn (P2E) blockchain gaming guild has raised $18 million in a Series A financing roun
Nigerian Currency Plunges to New Low of 570 — 10% of Value Lost in Under 30 Days
Nigerian Currency Plunges to New Low of 570 — 10% of Value Lost in Under 30 Days The Nigerian currency, the naira, plunged to a new all-time low of N570 for every dollar on Septe
This Analyst Predicted The Bitcoin Price Crash From $91,000, Why It’s Far From Over
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Jesse Coghlan3 hours agoNifty News: Sega exec calls P2E games ‘boring,’ Tom Brady’s NFT firm switches it up and moreSega is still reportedly licensing its lesser-known properties for NFTs and blockchain games, but
Breakout In Sight? SUI Set To Test Crucial $3.5 Resistance With ATH In View
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu