Mining – Marketiva.mobi https://marketiva.mobi Your Bitcoin News Portal Thu, 22 Sep 2022 13:30:33 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.2 https://marketiva.mobi/wp-content/uploads/2020/10/cropped-bitcoint-logo-1-32x32.jpg Mining – Marketiva.mobi https://marketiva.mobi 32 32 Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expected Soon https://marketiva.mobi/2022/09/22/bank-of-russia-finance-ministry-agree-on-crypto-mining-regulation-law-expected-soon/ https://marketiva.mobi/2022/09/22/bank-of-russia-finance-ministry-agree-on-crypto-mining-regulation-law-expected-soon/#respond Thu, 22 Sep 2022 13:30:33 +0000 https://news.bitcoin.com/?p=548866 Major government institutions in Moscow, the central bank and the finance ministry, have aligned their positions on the regulation of cryptocurrency mining in the Russian Federation. The respective bill will soon be filed with the State Duma, a high-ranking member of the house unveiled. Financial Authorities Reach Consensus on How to Regulate Mining of Digital […]]]>

Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expected Soon

Major government institutions in Moscow, the central bank and the finance ministry, have aligned their positions on the regulation of cryptocurrency mining in the Russian Federation. The respective bill will soon be filed with the State Duma, a high-ranking member of the house unveiled.

Financial Authorities Reach Consensus on How to Regulate Mining of Digital Coins in Russia

The Central Bank of Russia (CBR) and the Ministry of Finance (Minfin) have adopted a joint position on the regulation of crypto mining. The bitcoin-related activity has been expanding in the energy-rich nation, both as a profitable industry and as a source of additional income for many Russians.

Anatoly Aksakov, chair of the parliamentary Financial Market Committee, announced during the Kazan Digital Week forum that draft legislation introducing rules for the sector will soon be submitted to the lower house of Russian parliament, the State Duma. Quoted by RBC Crypto, he said:

In the near future, the bill will appear in the State Duma, we will work to pass it faster.

The Russian lawmaker also gave his own take on the matter. Aksakov believes that cryptocurrency mining should be allowed only in regions with abundant energy resources and prohibited in those that experience shortages.

Earlier in September, Prime Minister Mikhail Mishustin asked the CBR, Minfin, Rosfinmonitoring, Russia’s financial watchdog, the Federal Tax Service, and the Federal Security Service to elaborate a common position on draft federal laws regulating the issuance and circulation of digital currencies, including their mining and use in international settlements.

The head of the Russian government also ordered the Ministry of Finance, with the participation of the Bank of Russia, to submit consensus proposals for the development of the market for digital financial assets (DFAs), including the application of decentralized technologies, by Dec. 1.

The two regulators will have to update the Strategy for the Development of the Russian Financial Market Until 2030. The document should be revised taking into account President Vladimir Putin’s instructions and the current geopolitical situation, Mishustin stated on Sept. 13. He also emphasized that under the current conditions, the employment of DFAs will contribute to ensuring uninterrupted payments for imports and exports.

Russian authorities have been discussing the regulation of cryptocurrencies and related activities for quite some time, with the CBR and Minfin taking almost opposite positions until recently. While the central bank proposed a blanket ban, the department has favored legalization. However, the two regulators recently agreed that Russia would need cross-border crypto payments to deal with the pressure exerted by Western restrictions on its foreign trade.

The majority of officials in Moscow also share the view that the Russian Federation should exploit its competitive advantages in the field of crypto mining, which were highlighted by the Russian president, too. Many regions in the vast country offer both low-cost energy and cool climate. At the same time, Russian crypto miners have also been hit by sanctions imposed over Moscow’s invasion of Ukraine.

Do you think Russia will legalize other crypto-related activities besides mining? Let us know in the comments section below.

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How to Lock Nvidia GPU Clock and Power Limit Under Windows with Nvidia-smi https://marketiva.mobi/2022/09/21/how-to-lock-nvidia-gpu-clock-and-power-limit-under-windows-with-nvidia-smi/ https://marketiva.mobi/2022/09/21/how-to-lock-nvidia-gpu-clock-and-power-limit-under-windows-with-nvidia-smi/#respond Thu, 22 Sep 2022 03:46:56 +0000 https://cryptomining-blog.com/?p=12966 The Nvidia System Management Interface (nvidia-smi) is a command line utility, based on top of the Nvidia Management Library (NVML), intended to aid in the management and monitoring of Nvidia GPU devices. It has a number of useful commands for mostly monitoring the status of your Nvidia GPUs, but there are some commands that can […]]]>

The Nvidia System Management Interface (nvidia-smi) is a command line utility, based on top of the Nvidia Management Library (NVML), intended to aid in the management and monitoring of Nvidia GPU devices. It has a number of useful commands for mostly monitoring the status of your Nvidia GPUs, but there are some commands that can be useful for miners as well. There are two commands that we’ll be discussing here now that can be useful to help you optimize your mining performance and while here the focus is for use under Windows, the nvidia-smi tool is also available for Linux and can be used there as well. We’ll be learning how to lock the operating frequency of an Nvidia GPU to a certain fixed value as well as how to control the power limit of that particular GPU as well and how these two commands can complement each other well in order to optimize the performance and energy efficiency of a mining rig based on Nvidia GPUs.

Fixing or locking the GPU frequency to a certain level or the power limit on an Nvidia GPU with the nvidia-smi tool on Windows requires you to start a “Command Prompt” window, but make sure you do so with Administrator privileges, otherwise you will not be able to change anything as you would not have the required permissions. The nvidia-smi tool should be included in the Path, so no need to run it from a specific location, though you might want to run it from a Batch (BAT) file in order to automate it with the start of a miner for instance. Since it requires Admin privileges you cannot set the Batch file to be executed as Admin by default, but if you make a Shortcut to the BAT file you can set the Shortcut in Windows to be ran as Administrator and that would do the job.

To set the GPU clock on Nvidia GPU using the nvidia-smi tool you need to use the -lgc parameter. So, for example to set the GPU clock to 1050 MHz you would need to run nvidia-smi -lgc 1050 as on the example screenshot above. Do note that this will be the GPU clock that your Nvidia graphic adapter(s) will be running at ONLY if they are allowed to by their power limiter at the moment, but more on that in a moment.

To set the GPU Power Limit on Nvidia GPU using the nvidia-smi tool you need to use the -pl parameter. So, for example to set the GPU Power Limit to 120W you would need to run nvidia-smi -pl 120 as on the example screenshot above. When set the Power Limit is fixed regardless of other options of the GPU.

In our example above we have set the GPU clock to 1050 MHz and the Power Limit to 120W for a mining rig with 6x Nvidia RTX 3070 GPUs, but as you can see from the NBMiner screenshot here the operating frequency is lower than the set value while the Power Limit is also reported 119W instead of 120W, but small variation here is normal. Well, the thing is that at 120W of power usage as per our limit here the said GPUs are just not able to function with such high GPU clock, but if we increase the power limit a bit more the video cards will be able to operate at 1050 MHz clock without a problem. So, what you need to make sure you do is to match well both of these parameters in order to get optimal performance with optimal power usage…

If you set the power limit to let us say 150W, but the GPU clock limit is at 1050 MHz the video cards will just consume around 130-135W and not the full 150 Watts. The trick here is to first see what GPU clock you need for the optimal performance of a certain video card, like for example the RTX 3070 (depending on the make and model and operating conditions) can require somewhere between around 850 and 1050 MHz GPU clock to give you 60 MHs of Ethash mining hashrate with 120W-130W of power usage as maximum. You just need to play around with your specific hardware a bit and see what works best and then you can automate the settings for optimal performance and power usage via the batch file you use to run your mining software.

Some ideas on how to Monitor and Control Your Nvidia GPUs While Mining with nvidia-smi…

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World’s Largest ASIC Producer Bitmain Slashes Antminer Bitcoin Mining Rig Prices https://marketiva.mobi/2022/09/21/worlds-largest-asic-producer-bitmain-slashes-antminer-bitcoin-mining-rig-prices/ https://marketiva.mobi/2022/09/21/worlds-largest-asic-producer-bitmain-slashes-antminer-bitcoin-mining-rig-prices/#respond Wed, 21 Sep 2022 17:30:07 +0000 https://news.bitcoin.com/?p=548740 The world’s largest producer of application-specific integrated circuit (ASIC) bitcoin miners, Bitmain Technologies, has revealed the company is offering a discount on Antminer S19 Pro mining rigs. The 100 terahash per second (TH/s) machine is selling for $19 per terahash or $1,900 per unit. The Antminer mining rigs are 80% cheaper than they were five […]]]>

World’s Largest ASIC Producer Bitmain Slashes Antminer Bitcoin Mining Rig Prices

The world’s largest producer of application-specific integrated circuit (ASIC) bitcoin miners, Bitmain Technologies, has revealed the company is offering a discount on Antminer S19 Pro mining rigs. The 100 terahash per second (TH/s) machine is selling for $19 per terahash or $1,900 per unit. The Antminer mining rigs are 80% cheaper than they were five months ago on March 28.

Bitmain Cuts S19 Pro Prices Down to $19 per Terahash

Amid the crypto winter and the crypto economy’s market capitalization hovering around $927.21 billion, Bitmain Technologies has decided to sell its Antminer S19 Pro mining rigs at a discount. At the same time, the price of bitcoin (BTC) is down 5.52% during the last seven days and is currently trading for under $20K per unit. The cryptocurrency network’s mining difficulty is at an all-time high and the network’s hashrate is coasting along today at 223.73 exahash per second (EH/s).

“Bitmain is offering an Antiminer S19 Pro special discount for only $19/T,” Bitmain tweeted on Tuesday. “For bulk orders, please contact [a] Bitmain sales representative directly. Customers who have already purchased S19 Pro will be eligible for coupons,” the company added.

Bitmain’s 100 TH/s Technology Is 80% Cheaper Than 5 Months Ago, Crypto Winter Highlights ASIC Purchases at a ‘Discounted Price’

Bitmain’s sale is a lot cheaper than the Antiminer S19 Pro’s original prices. On March 29, 2022, a customer could purchase an Antiminer S19j Pro with 104 TH/s for $9,984 per unit. The 100 TH/s S19, which produces a slightly smaller hashrate than the S19j Pro, is 80.96% cheaper — at $1,900 per unit — than S19 prices five months ago. Lower prices may be contributing to the massive expansion from a number of operations and Bitcoin’s sky-high hashrate in recent times.

This week, the Nasdaq-listed and Gwyneth Paltrow-backed Terawulf (Nasdaq: WULF) revealed its Lake Mariner mining data center now has 12,000 Mining Rigs operating at the facility and a great deal of Terawulf’s rigs are Antminer S19s. Cleanspark Inc. (Nasdaq: CLSK) has also detailed that the crypto winter has brought “unprecedented opportunities” after it acquired 1,061 ASIC mining rigs at a “discounted price.”

What do you think about Bitmain dropping the price of the Antminer S19 Pro units this week? Let us know what you think about this subject in the comments section below.

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Mining EthereumPoW (ETHW) Crypto after the Merge of Ethereum https://marketiva.mobi/2022/09/20/mining-ethereumpow-ethw-crypto-after-the-merge-of-ethereum/ https://marketiva.mobi/2022/09/20/mining-ethereumpow-ethw-crypto-after-the-merge-of-ethereum/#respond Wed, 21 Sep 2022 00:50:18 +0000 https://cryptomining-blog.com/?p=12957 EthereumPoW (ETHW) is the name of the Proof of Work fork that continued as PoW after the original Ethereum (ETH) has switched to Proof of Stake after the so-called Merge of ETH that has happened on 15th of September. ETHW is mineable on a number of large pools already and is available for trading on […]]]>

EthereumPoW (ETHW) is the name of the Proof of Work fork that continued as PoW after the original Ethereum (ETH) has switched to Proof of Stake after the so-called Merge of ETH that has happened on 15th of September. ETHW is mineable on a number of large pools already and is available for trading on some of the larger exchanges with more coming apparently as the interest, especially from miners is pretty high at the moment. The ETHW hard forking from ETH means that any address that had Ethereum coins available on the Ethereum mainnet will also have the same amount of ETHW coins on the EthereumPoW mainnet. Many of the exchanges that added support for ETHW have already credited users with coins based on their ETH holdings at the time of the fork, though not all have started trading yet.

EthereumPoW (ETHW) has a price of a little over $6 USD at the moment, though that price can fluctuate wildly at the moment. The peak price ETHW has reached was a little of over $60 USD for a brief moment soon after the hard fork, but is currently at just about 1/10 of that peak level it had according to CoinMarketCap. You can visit the official website of the EthereumPoW – The Original Ethereum Blockchain powered by Proof of Work, though we’ll try to summarize the most important things to help you get started mining ETHW if you are interested. Here you can find an ETHW Explorer and the official GitHub page with EthereumPoW code

The best thing about EthereumPoW (ETHW) is that it uses the very familiar Dagger-Hashimoto or Ethash algorithm that was used by Ethereum (ETH) supported by most mining software such as PhoenixMiner, NBMiner, T-Rex Miner, lolMiner and many others. So, if you were just mining ETH prior to the Merge, you should be able to very quickly and easily get up to speed with switching to ETHW mining. The only thing you will need is a new mining pool with support for ETHW such as f2pool.com, 2miners.com, poolin.com, woolypooly.com or nanopool.org – these are the Top 5 ETHW mining pools in terms of mining hashrate at the moment. Then you would also need to get an ETHW wallet address, if you don’t have one already, in a supporting exchange such as Kraken, Poloniex, Bittrex or one of the others that already have introduced support for EthereumPoW.

That is it you can point your mining hardware to mine the ETHW coin easily and pretty straightforward if you were already mining ETH, the only thing that remains to happen is for EthereumPoW to become profitable to be mined as currently it is the same as with other crypto coins. Mining ETHW at the moment can hardly even cover for the electricity being used with its current price and difficulty level, profitability wise it is on par with Ethereum Classic (ETC) at the moment. Though for ETC mining you have the option to increase the mining profitability by dual-mining ETC+ZIL.

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Nasdaq-Listed Bitcoin Miner Terawulf Reveals Firm’s Lake Mariner Site Has 12,000 Miners Deployed https://marketiva.mobi/2022/09/20/nasdaq-listed-bitcoin-miner-terawulf-reveals-firms-lake-mariner-site-has-12000-miners-deployed/ https://marketiva.mobi/2022/09/20/nasdaq-listed-bitcoin-miner-terawulf-reveals-firms-lake-mariner-site-has-12000-miners-deployed/#respond Tue, 20 Sep 2022 14:00:18 +0000 https://news.bitcoin.com/?p=548437 Following the publicly-listed mining operation Terawulf’s announcement that the firm’s Lake Mariner mining data center is up and running with 30 megawatts (MW) of capacity, 11 days later, the company has revealed the operation of nearly 12,000 miners at the facility in New York. Between the owned and hosted hashing capacity at Lake Mariner, Terawulf […]]]>

Following the publicly-listed mining operation Terawulf’s announcement that the firm’s Lake Mariner mining data center is up and running with 30 megawatts (MW) of capacity, 11 days later, the company has revealed the operation of nearly 12,000 miners at the facility in New York. Between the owned and hosted hashing capacity at Lake Mariner, Terawulf has 1.3 exahash per second (EH/s) of hashpower.

Terawulf Says 12,000 Mining Rigs Are Operational in New York, Site Currently Produces 1.3 Exahash

The bitcoin mining firm Terawulf (Nasdaq: WULF) has detailed its recent miner deployments are on track to bolstering the company’s year-end targets. Terawulf made headlines last year, when it was reported that the American actress and businesswoman Gwyneth Paltrow invested in the company. On September 9, Paul Prager, the CEO of the bitcoin mining firm, announced that the company’s New York-based facility located in Lake Mariner was operational and it was managing 1 EH/s of hashpower with 30 MW of capacity.

Terawulf’s announcement on September 19 says the publicly listed mining operation now has “a total of over 1.3 EH/s operational at Lake Mariner.” The added hashrate is thanks to the close to 12,000 bitcoin miners that have been deployed at the New York site. Terawulf’s announcement details that roughly 3,000 Antminer S19 XP units stemmed from an agreement previously made with the mining rig manufacturer Bitmain Technologies.

According to Terawulf, Lake Mariner has two buildings and the initial batch of Antminer S19 XPs have been installed in building one, which has 50 MW of capacity. Building two is expected to add an additional 50 MW of capacity by the last quarter of 2022. Nazar Khan, co-founder and COO of Terawulf, explained that the company was called upon a number of times for demand response efforts.

Bitcoin mining coupled with demand response events has been an interesting development in recent times. In mid-July, bitcoin miners in Texas showcased a significant demand response effort on the ERCOT grid. The bitcoin mining infrastructure provider Lancium signed a deal in July to bolster a battery power demand response system, and the second-largest U.S. energy corporation, Duke Energy Corporation, is researching bitcoin mining applied to demand response efforts.

“Along with Lake Mariner’s strong hash rate growth has been a commensurate increase in our grid support capabilities,” Khan said in a statement on Monday. During an extreme summer across energy markets, our Lake Mariner facility was called upon for nearly a dozen demand response events, highlighting our ability to offer instant, precise support when the grid needs it most. And we continue to expand the suite of ancillary services that Lake Mariner can offer to the electric market.”

What do you think about Terawulf revealing 12,000 miners are now operational in Lake Mariner? Let us know what you think about this subject in the comments section below.

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30% Extra Profit When Mining Ethereum Classic (ETC) with Zilliqa (ZIL) https://marketiva.mobi/2022/09/19/30-extra-profit-when-mining-ethereum-classic-etc-with-zilliqa-zil/ https://marketiva.mobi/2022/09/19/30-extra-profit-when-mining-ethereum-classic-etc-with-zilliqa-zil/#respond Tue, 20 Sep 2022 03:46:44 +0000 https://cryptomining-blog.com/?p=12953 With the recent switch of Ethereum (ETH) from Proof of Mining (PoW) to Proof of Staking (PoS) there was a big change in the crypto mining landscape. There was an enormous mining power consisting of a lot of Ethash-based ASIC miners and even more GPUs having to be switched to other crypto currencies and nothing […]]]>

With the recent switch of Ethereum (ETH) from Proof of Mining (PoW) to Proof of Staking (PoS) there was a big change in the crypto mining landscape. There was an enormous mining power consisting of a lot of Ethash-based ASIC miners and even more GPUs having to be switched to other crypto currencies and nothing else could handle so much computational power being forwarded to it’s network without significant increase in difficulty and thus a huge drop in profitability. Now, a few days later there is still pretty much nothing that can be stably mined with GPUs at a profit, even covering for the electricity that mining GPUs use with what you mine is still an issue. People are wondering and asking What to Mine, but nothing is really profitable yet, though if you are willing to cover your electricity cost and save what you mine in crypto for now there are a lot of options available.

Ethereum Classic (ETC) is one of the obvious choices when it comes to switching your mining hardware from ETH after the PoW to PoS switch happened, as it is easier and familiar, but profitability wise is it not among the coins that currently bring you the least loss (in term of revenue). There is however something that you can do in order to improve the situation a bit and that is to Dual-Mine ETC and Zilliqa (ZIL), similar to previously doing the same with ETH+ZIL Dual-Mining. Currently the reported extra profit from ZIL is around 30+ extra percent compared to just when mining Ethereum Classic (ETC) on its own, though that value can vary and be even higher at times, so definitely worth checking the Dual-Mining option if you are only mining ETC at the moment. Of course even this way you are probably not going to even fully cover the electricity costs, but 30% more is still 30% more, so you can only gain extra and not loose anything if you are solo mining ETC.

To Get Started Dual-mining ETC and ZIL on the Ezil.me Mining Pool…

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Vietnam Crypto Miners Complain About Losses From Ethereum’s Merge https://marketiva.mobi/2022/09/19/vietnam-crypto-miners-complain-about-losses-from-ethereums-merge/ https://marketiva.mobi/2022/09/19/vietnam-crypto-miners-complain-about-losses-from-ethereums-merge/#respond Mon, 19 Sep 2022 10:00:07 +0000 https://news.bitcoin.com/?p=548192 Miners in Vietnam have expressed grievances over the loss of business following Ethereum’s transition to a consensus mechanism that does not require the energy-intensive computing they were providing. Many are in trouble, local media reported, quoting entrepreneurs and mining enthusiasts. Cryptocurrency Miners Hit by The Merge, Vietnam Report Reveals Vietnam’s crypto miners have suffered […]]]>

Vietnam Crypto Miners Complain About Losses From Ethereum’s Merge

Miners in Vietnam have expressed grievances over the loss of business following Ethereum’s transition to a consensus mechanism that does not require the energy-intensive computing they were providing. Many are in trouble, local media reported, quoting entrepreneurs and mining enthusiasts.

Cryptocurrency Miners Hit by The Merge, Vietnam Report Reveals


Vietnam’s crypto miners have suffered heavy losses with their mining rigs now shut off after the second-largest cryptocurrency by market capitalization switched to a more energy-efficient framework, VN Express noted in a report.

This week, Ethereum (ETH) changed its protocol from proof-of-work (PoW) to proof-of-stake (PoS) with an upgrade called “The Merge,” which was completed on Thursday. It significantly reduces the amount of energy burnt to validate transactions.

The migration to the new consensus mechanism means that powerful coin minting hardware is no longer needed to perform complex mathematical computations and this kind of equipment has become almost useless.

As a result, “goodbye Ethereum,” “no more chances,” and “sell off rigs” are currently the most seen phrases in online groups of Vietnamese crypto miners, the English-language news edition wrote this weekend, adding:

Given that the majority of Vietnamese crypto miners were mining Ethereum, many are in trouble.




“We all knew this day will come and we have been prepared, but some hoped ‘The Merge’ would happen later so we could mine some more,” Ngoc Can, administrator of a social group on crypto mining, has been quoted as saying.

“All mining pools have closed down, so miners can no longer mine and have to turn off their rigs,” Can explained. The largest Ethereum mining pool, Ethermine, announced it’s shutting down its servers and informed miners their unpaid balances will be transferred within days.

Large crypto farms have been hit the hardest, according to a miner from Dong Nai. “I started mining four years ago and expanded my farm after breaking even. I haven’t recouped my new investment and it is almost impossible to sell it,” he said, revealing that many of his colleagues have collapsed, too.

“I spent my family’s savings on the mining rig. I don’t know how to recover from that,” an amateur miner from Binh Dinh shared. The man wanted to start minting other coins but gave up on this plan after estimating that the electricity bills would be too high to make a profit.

“Many Vietnamese crypto miners also expect that Ethereum will be split into a new branch that still allows PoW mechanism, but that prospect is uncertain at this point,” the article concludes.

Do you think ethereum crypto miners in Vietnam will manage to find other sources of revenue? Share your thoughts on the subject in the comments section below.

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Working Group to Develop Efficiency Standard for Crypto Mining in Russia https://marketiva.mobi/2022/09/19/working-group-to-develop-efficiency-standard-for-crypto-mining-in-russia/ https://marketiva.mobi/2022/09/19/working-group-to-develop-efficiency-standard-for-crypto-mining-in-russia/#respond Mon, 19 Sep 2022 09:00:50 +0000 https://news.bitcoin.com/?p=548101 Crypto industry experts have formed a working group to draft a standard for energy-efficient and profitable cryptocurrency mining in Russia. The rules will aim to help developers and data center operators offer investors increased hardware uptime. Russia Prepares to Improve Efficiency of Mining Facilities in 2023 A group of crypto specialists have teamed up […]]]>

Working Group to Develop Efficiency Standard for Crypto Mining in Russia

Crypto industry experts have formed a working group to draft a standard for energy-efficient and profitable cryptocurrency mining in Russia. The rules will aim to help developers and data center operators offer investors increased hardware uptime.

Russia Prepares to Improve Efficiency of Mining Facilities in 2023


A group of crypto specialists have teamed up to elaborate a standard that should improve the overall efficiency of mining and in particular the use of energy to mint digital currencies. The set of rules and procedures will be designed to increase the time the expensive data processing equipment operates under optimal load which should result in higher profitability.

The standard, which is expected to be released for adoption in February next year, will be prepared by members of the Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib), the cryptocurrency sector, and other associated industries, the Russian crypto news outlet Bits.media reported this week.

The decision to establish the working group was announced at a crypto summit held in Moscow, during a presentation on the topic made by representatives of Racib, mining data center operator Vekus Mining Development and Yuri Kudryashov, director of Russia’s Research Institute for Sustainable Development in Construction.

The main purpose of the forum was to talk about the development of the digital environment and digital financial assets in general. Participants discussed the pending legalization of mining in Russia and other activities related to blockchain and cryptocurrencies, the introduction of central bank digital currencies, and the spread of tokenization. The summit also focused on education and security issues.

New Standard Expected to Reduce Downtime at Crypto Mining Farms


A scientific approach, with computer modeling of temperatures and speeds, should help to improve the quality of engineering solutions for mining modules, Yuri Kudryashov is convinced. It should also allow the proper calibration of ventilation systems, taking into account indicators such as humidity, season, region, and the particular location where a crypto mining unit is installed, the official elaborated.

According to Vera Burtseva, strategic marketing director at Vekus Group, the efficiency standard the working group is tasked to develop will reduce shutdowns of mining hardware and downtime due to extreme weather conditions, and decrease maintenance costs while increasing the equipment’s operating time and service life.

The new standard will be incorporated into the ‘Green Zoom’ national system of sustainable development in Russia’s construction sector. The same has already been applied in housing construction, the tourism industry, and the building of traditional data processing centers.

Cryptocurrency mining, an expanding industry in energy-rich regions of the Russian Federation, is yet to be regulated on the federal level. Lawmakers in the Stated Duma, the lower house of parliament are expected to review comprehensive legislation in the coming months. Earlier this year Russia’s advantages as a mining destination were highlighted by President Vladimir Putin but sanctions imposed over Moscow’s decision to attack Ukraine hurt the business later.

Do you think Russia will implement a crypto mining efficiency standard next year? Share your thoughts on the subject in the comments section below.

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Bitfarms Starts Bitcoin Megafarm Operations in Argentina https://marketiva.mobi/2022/09/18/bitfarms-starts-bitcoin-megafarm-operations-in-argentina/ https://marketiva.mobi/2022/09/18/bitfarms-starts-bitcoin-megafarm-operations-in-argentina/#respond Sun, 18 Sep 2022 19:30:49 +0000 https://news.bitcoin.com/?p=547735 Bitfarms, a global Bitcoin mining company, has started operations in its mining megafarm located in Argentina. The farm, launched on September 16, is currently generating 10 megawatts (MW) of mining power during the first phase and will scale operations to be fully operational next year. Bitfarms estimates it will contribute 50 MW to fulfill the […]]]>

bitfarms

Bitfarms, a global Bitcoin mining company, has started operations in its mining megafarm located in Argentina. The farm, launched on September 16, is currently generating 10 megawatts (MW) of mining power during the first phase and will scale operations to be fully operational next year. Bitfarms estimates it will contribute 50 MW to fulfill the company’s mining goals in 2023.

Bitfarms Launches Mining Operations in Argentine Megafarm

Bitfarms, a Nasdaq-listed bitcoin mining company, has begun mining operations at it’s megafarm located in Argentina. The construction of the facility, which started on October 2021, has now reached a milestone, allowing it to start operating, and contributing hashrate to the Bitcoin network.

In this first phase, the facility is able to produce 10 MW of energy to host mining equipment. The company expects these facilities to host a multitude of miners in the future, growing its provided power fivefold. In the future, 50 MW will contribute 2.5 exahash per second (EH/s) to the current mining power provided by the company. The farm’s construction was estimated to be completed by last September, but due to several delays, it is now expected to be fully operational by mid-2023.

However, according to the company, this will be its most modern and it’s largest mining operation when completed. Bitfarms had previously informed that it will host Antminer S19 Pro Hydro miners in this facility, units that feature water cooling for better efficiency.


Background and Project Story

This event marks the beginning of the completion of this project, which was criticized at some point due to the energy crisis that Argentina suffered last year. In fact, the construction of this megafarm caused concerns amongst Argentine regulators, with come making inquiries about the nature of the project and the nature of the energy that would be used.

Bitfarms negotiated a private agreement with a provider capable of delivering prices of $0.02.2 per kilowatt hour (kWh), a very competitive fee. However, even with this advantage, Bitfarms has expressed its worries about the sudden decline of bitcoin prices in international markets. In June, Damian Polla, Bitfarm’s Latam General Manager stated this factor was the biggest challenge that the mining industry was facing in the short term.

Even so, the company is still forwarding investments to modernize and expand its existing mining infrastructure. In July, the company announced the completion of the second phase of the expansion in “The Bunker,” another mining facility the company operates, adding 18 MW to the power of the operation and to increase the firm’s hashrate by 200 petahash per second (PH/s).

What do you think about Bitfarm’s bitcoin megafarm launch in Argentina? Tell us in the comments section below.

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Solar-Powered Crypto Farm in Australia to Prove Bitcoin Mining Can Be Green https://marketiva.mobi/2022/09/17/solar-powered-crypto-farm-in-australia-to-prove-bitcoin-mining-can-be-green/ https://marketiva.mobi/2022/09/17/solar-powered-crypto-farm-in-australia-to-prove-bitcoin-mining-can-be-green/#respond Sat, 17 Sep 2022 22:00:52 +0000 https://news.bitcoin.com/?p=547924 A crypto mining data center in the state of South Australia will be running mainly on solar-generated electricity, a media report reveals. The coin minting facility has been set up in a region known for its energy-hungry iron ore extraction and steel production. Bitcoin Farm to Mine Cryptocurrency on Solar and Excess Energy in South […]]]>

Solar-Powered Crypto Farm in Australia to Prove Bitcoin Mining Can Be Green

A crypto mining data center in the state of South Australia will be running mainly on solar-generated electricity, a media report reveals. The coin minting facility has been set up in a region known for its energy-hungry iron ore extraction and steel production.

Bitcoin Farm to Mine Cryptocurrency on Solar and Excess Energy in South Australia

The ‘Steel City’ of Whyalla in South Australia has become home to a new crypto mining installation that will run on electricity generated from solar power. Operated by the Lumos Digital Mining company, the 5-megawatt facility will be minting bitcoin, a process often blamed for its energy-intensive nature.

Australian national broadcaster ABC notes in a report that at a time when the world is trying to reduce energy consumption, the extraction of the leading cryptocurrency by market capitalization uses more power than medium-sized nations such as Argentina. It’s echoing criticism often highlighted by mass media around the world.

Local authorities see the solar-based crypto mining project as a proof that bitcoin generation can be more environmentally friendly. Commenting on the undertaking, South Australia State Minister for Trade and Investment Nick Champion elaborated:

This is important for decarbonizing blockchain, which is a very energy-intensive industry. I think it’s the beginning of a new economy out here at Whyalla.

The government official also hopes to see other data centers mining cryptocurrency using renewable energy in the future. “There will be demand for blockchain, but also carbon-neutral blockchain so I think we will see more and more facilities like this,” he expects.

His statement comes after a recent report by the White House Office of Science and Technology Policy estimated that cryptocurrency production in the United States alone represents as much as 0.3% of global greenhouse gas emissions.

According to a Lumos Digital Mining representative, the new crypto farm can potentially mint around 100 BTC annually, depending on the available power. Angelo Kondylas said the company could also sell some of its solar power to other consumers or increase crypto output to utilize surplus energy from different sources when electricity generation exceeds demand.

Kondylas pointed out that power generators may suffer heavy losses when they switch off at times of low consumption. “We are basically like a sponge. We soak up the excess that’s not used,” he explained. The operator intends to eventually double the size of the mining facility.

Bitcoin mining on renewable and surplus energy has been gaining traction around the world, with growing investor interest in solar-based coin minting projects in the U.S. and increasing capacity of cryptocurrency farms running on associated petroleum gas (APG) at Russia’s oil fields.

Do you expect to see more cryptocurrency farms powered by renewable energy? Share your thoughts on the subject in the comments section below.

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