{"id":4473,"date":"2024-11-04T07:11:02","date_gmt":"2024-11-04T07:11:02","guid":{"rendered":"https:\/\/bedk0.myrdbx.io\/?p=4473"},"modified":"2024-11-04T15:56:03","modified_gmt":"2024-11-04T15:56:03","slug":"mining-industry-recap-episode-9","status":"publish","type":"post","link":"https:\/\/blog.infinity-hash.io\/ru\/mining-recap\/mining-industry-recap-episode-9\/","title":{"rendered":"Mining Industry Recap, Episode 9"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 ez-toc-wrap-right counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\">\u0421\u043e\u0434\u0435\u0440\u0436\u0430\u043d\u0438\u0435<\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/blog.infinity-hash.io\/ru\/mining-recap\/mining-industry-recap-episode-9\/#Network_Overview\" >Network Overview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/blog.infinity-hash.io\/ru\/mining-recap\/mining-industry-recap-episode-9\/#US_Treasury_Imposes_Stricter_Rules_on_Foreign_Real_Estate_Near_Military_Bases\" >U.S. Treasury Imposes Stricter Rules on Foreign Real Estate Near Military Bases<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/blog.infinity-hash.io\/ru\/mining-recap\/mining-industry-recap-episode-9\/#Study_Finds_Bitcoin_Mining_Bans_Could_Increase_Carbon_Emissions\" >Study Finds Bitcoin Mining Bans Could Increase Carbon Emissions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/blog.infinity-hash.io\/ru\/mining-recap\/mining-industry-recap-episode-9\/#Argentinas_Central_Bank_Hosts_Live_Bitcoin_Mining_Exhibit\" >Argentina\u2019s Central Bank Hosts Live Bitcoin Mining Exhibit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/blog.infinity-hash.io\/ru\/mining-recap\/mining-industry-recap-episode-9\/#Coinshares_Report_Rising_Costs_Challenge_Bitcoin_Miners\" >Coinshares Report: Rising Costs Challenge Bitcoin Miners<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/blog.infinity-hash.io\/ru\/mining-recap\/mining-industry-recap-episode-9\/#Russia_Intensifies_Crackdown_on_Home_Crypto_Mining\" >Russia Intensifies Crackdown on Home Crypto Mining<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/blog.infinity-hash.io\/ru\/mining-recap\/mining-industry-recap-episode-9\/#UAE_Argentina_and_Ethiopia_Launch_State-Backed_Bitcoin_Mining_Initiatives\" >UAE, Argentina, and Ethiopia Launch State-Backed Bitcoin Mining Initiatives<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/blog.infinity-hash.io\/ru\/mining-recap\/mining-industry-recap-episode-9\/#Bitcoin_Mining_to_Heat_Norwegian_Fishing_Village_Building_in_Arctic_Circle\" >Bitcoin Mining to Heat Norwegian Fishing Village Building in Arctic Circle<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/blog.infinity-hash.io\/ru\/mining-recap\/mining-industry-recap-episode-9\/#Marathon_Digital_to_Reuse_Bitcoin_Mining_Heat_for_Finnish_District_Heating\" >Marathon Digital to Reuse Bitcoin Mining Heat for Finnish District Heating<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/blog.infinity-hash.io\/ru\/mining-recap\/mining-industry-recap-episode-9\/#Illegal_Bitcoin_Mining_Costs_Malaysia_Over_100_Million_in_Electricity_Losses\" >Illegal Bitcoin Mining Costs Malaysia Over $100 Million in Electricity Losses<\/a><\/li><\/ul><\/nav><\/div>\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Network_Overview\"><\/span>Network Overview<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>This week, Bitcoin mining metrics show the results of a very turbulent market, as we continue to approach the US election day. The network hash rate saw a new uptick of 4.15%, continuing the same growth trend. Mining difficulty meanwhile did not have an adjustment yet. As for Bitcoin price, we saw it climb to $73,000 earlier this week, but uncertainty regarding the result of the election has brought prices down considerably on Sunday. Nevertheless, the sudden price increase and increased activity has had a considerable effect on mining revenue, which experienced strong growth. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-dominant-color=\"ea807a\" data-has-transparency=\"false\" style=\"--dominant-color: #ea807a;\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"631\" src=\"https:\/\/bedk0.myrdbx.io\/wp-content\/uploads\/recap_episode_9-1024x631.avif\" alt=\"\" class=\"wp-image-4474 not-transparent\" title=\"\" srcset=\"https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/recap_episode_9-1024x631.avif 1024w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/recap_episode_9-300x185.avif 300w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/recap_episode_9-768x474.avif 768w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/recap_episode_9-18x12.avif 18w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/recap_episode_9-png.avif 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>A standout metric this week is the average transaction fee, which soared by 75.42% to $8.28, pointing to heightened market activity due to price volatility. Concordantly, the mempool size expanded by 37.74% to 94,058 MB, and the estimated transaction value climbed by 37.92%, totaling 181,111 BTC.<\/p>\n\n\n\n<p>All in all, it was a good week for Bitcoin miners, who saw their revenue increase. However, by the end of the week the landscape is looking slightly less optimistic, as Bitcoin lost again the $70,000 price level. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"US_Treasury_Imposes_Stricter_Rules_on_Foreign_Real_Estate_Near_Military_Bases\"><\/span>U.S. Treasury Imposes Stricter Rules on Foreign Real Estate Near Military Bases <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The U.S. Treasury Department has introduced a new rule intensifying oversight on foreign real estate transactions near military sites, following a national security concern involving a Chinese-owned crypto mining operation. This action stems from an incident where MineOne, a Chinese-backed business, set up a Bitcoin mining facility close to Warren Air Force Base in Wyoming, home to U.S. nuclear missiles. President Biden ordered the operation to cease in May, citing risks related to foreign technology being too close to critical U.S. military infrastructure.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-dominant-color=\"687f7e\" data-has-transparency=\"false\" style=\"--dominant-color: #687f7e;\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/bedk0.myrdbx.io\/wp-content\/uploads\/military-png.avif\" alt=\"\" class=\"wp-image-4483 not-transparent\" title=\"\" srcset=\"https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/military-png.avif 1024w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/military-300x300.avif 300w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/military-150x150.avif 150w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/military-768x768.avif 768w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/military-12x12.avif 12w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>This rule now broadens the government\u2019s <a class=\"interlink\" href=\"https:\/\/blog.infinity-hash.io\/ru\/tutorials\/review-infinity-hash\/\" target=\"_blank\">\u0440\u0430\u0441\u0441\u043c\u043e\u0442\u0440\u0435\u043d\u0438\u0435 \u0438\u0434\u0435\u0439<\/a> powers for real estate deals near a wider range of military facilities, aiming to prevent potential security threats from foreign-owned properties near sensitive installations. Treasury Secretary Janet Yellen emphasized that the rule would enable the Committee on Foreign Investment in the United States (CFIUS) to more thoroughly assess and block real estate acquisitions that could pose risks, enhancing the ability to protect U.S. Armed Forces from foreign intelligence threats.<\/p>\n\n\n\n<p><strong>Source:<\/strong> <a href=\"https:\/\/www.coindesk.com\/policy\/2024\/11\/01\/plan-a-crypto-mine-near-a-us-military-base-expect-a-bigger-hassle-now\/\" rel=\"nofollow noopener\" target=\"_blank\">Coindesk.com<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Study_Finds_Bitcoin_Mining_Bans_Could_Increase_Carbon_Emissions\"><\/span>Study Finds Bitcoin Mining Bans Could Increase Carbon Emissions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A recent study by Exponential Science and University College London suggests that blanket bans on Bitcoin mining may inadvertently worsen carbon emissions. By examining global Bitcoin mining operations, researchers found that prohibiting mining in regions with renewable energy sources\u2014such as Canada and Norway\u2014could push miners to relocate to areas with carbon-intensive energy, potentially adding up to 2.5 million tonnes of emissions annually. Conversely, mining bans in fossil-fuel-dependent countries like Kazakhstan could reduce emissions.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-dominant-color=\"39807e\" data-has-transparency=\"false\" style=\"--dominant-color: #39807e;\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/bedk0.myrdbx.io\/wp-content\/uploads\/emissions-png.avif\" alt=\"\" class=\"wp-image-4482 not-transparent\" title=\"\" srcset=\"https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/emissions-png.avif 1024w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/emissions-300x300.avif 300w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/emissions-150x150.avif 150w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/emissions-768x768.avif 768w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/emissions-12x12.avif 12w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The study urges policymakers to adopt a more nuanced approach to regulating Bitcoin mining, focusing on the energy sources used rather than blanket bans. Encouraging renewable energy for mining and incentivizing operations in low-carbon regions, the researchers argue, would better support environmental objectives. The paper recommends rethinking mining regulations to prioritize sustainability, emphasizing that not all mining is equally harmful to the environment.<br><br>Source: <a href=\"https:\/\/cryptoslate.com\/study-suggests-bitcoin-mining-bans-could-worsen-carbon-footprints\/\" rel=\"nofollow noopener\" target=\"_blank\">Cryptoslate.com<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Argentinas_Central_Bank_Hosts_Live_Bitcoin_Mining_Exhibit\"><\/span>Argentina\u2019s Central Bank Hosts Live Bitcoin Mining Exhibit<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Central Bank of Argentina (BCRA) has launched a unique exhibition featuring live Bitcoin mining rigs, marking the first time a central bank has showcased cryptocurrency mining equipment as part of an art display. Titled <em>Art, Artificial Intelligence, and the Future of the Economy<\/em>, the exhibition, which opened on October 31, includes installations by artist Alberto Echegaray. His works, such as the \u201cMoneyballs\u201d crafted from shredded currency, symbolize the dematerialization of money and explore the transition from physical to digital assets.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-dominant-color=\"4f6c90\" data-has-transparency=\"false\" style=\"--dominant-color: #4f6c90;\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/bedk0.myrdbx.io\/wp-content\/uploads\/bitcoinexhibit-png.avif\" alt=\"\" class=\"wp-image-4481 not-transparent\" title=\"\" srcset=\"https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/bitcoinexhibit-png.avif 1024w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/bitcoinexhibit-300x300.avif 300w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/bitcoinexhibit-150x150.avif 150w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/bitcoinexhibit-768x768.avif 768w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/bitcoinexhibit-12x12.avif 12w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Echegaray&#8217;s installations combine real and virtual currency elements, connecting art enthusiasts and visitors to live crypto-mining activity and real-time asset valuations. The BCRA\u2019s decision to feature this exhibit could be part of a potential shift in its approach to digital assets. Echegaray believes the exhibit will spark dialogue on the future of currency, suggesting that banknotes may soon be relics confined to museums. His work critiques dependence on traditional currency systems, foreseeing a gradual move toward digital economies.<\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/cryptobriefing.com\/crypto-art-exhibition-argentina\/\" rel=\"nofollow noopener\" target=\"_blank\">cryptobriefing.com<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Coinshares_Report_Rising_Costs_Challenge_Bitcoin_Miners\"><\/span>Coinshares Report: Rising Costs Challenge Bitcoin Miners<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Coinshares\u2019 Q3 mining report reveals a tough financial landscape for Bitcoin miners, with costs reaching unprecedented levels. According to researcher James Butterfill, the average cost to produce one BTC is approximately $49,500 in cash expenses, and jumps to $96,100 when including depreciation and stock-based compensation. This surge in expenses is driven by increasing mining difficulty and infrastructure investments. Compounding the challenge, miners face restricted financing options due to high interest rates and limited credit access, forcing many to issue shares and dilute shareholder value.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-dominant-color=\"9d7e6b\" data-has-transparency=\"false\" style=\"--dominant-color: #9d7e6b;\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/bedk0.myrdbx.io\/wp-content\/uploads\/risingcosts-png.avif\" alt=\"\" class=\"wp-image-4480 not-transparent\" title=\"\" srcset=\"https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/risingcosts-png.avif 1024w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/risingcosts-300x300.avif 300w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/risingcosts-150x150.avif 150w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/risingcosts-768x768.avif 768w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/risingcosts-12x12.avif 12w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The report also mentions a close correlation between Bitcoin\u2019s price movements and miner stocks, though miner shares haven\u2019t fully benefited from the recent U.S. Bitcoin ETF developments. Coinshares projects that Bitcoin\u2019s hash rate will grow to 765 EH\/s by the end of the year, with a potential shift to more sustainable energy sources reducing emissions by 63% by 2050. To stay competitive, the report advises miners to diversify revenue streams and enhance cost efficiency, suggesting ventures into AI technology as profitability from miner fees alone may be insufficient.<\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/news.bitcoin.com\/coinshares-report-inside-bitcoins-cost-crunch-why-mining-expenses-are-hitting-record-highs\/\" rel=\"nofollow noopener\" target=\"_blank\">bitcoin.com<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Russia_Intensifies_Crackdown_on_Home_Crypto_Mining\"><\/span>Russia Intensifies Crackdown on Home Crypto Mining<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Russian authorities are tightening their control over home-based cryptocurrency mining, particularly in Siberian regions. Recently, law enforcement in Novosibirsk arrested a resident for unauthorized mining, where the individual reportedly earned over 12 million roubles by utilizing subsidized electricity. This action shows the government\u2019s growing concerns over energy misuse and the unregulated growth of crypto mining in residential areas. New laws, effective November 1, will impose stricter regulations on private miners and enforce local power caps to curb the surging electricity demand linked to these activities.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-dominant-color=\"897d82\" data-has-transparency=\"false\" style=\"--dominant-color: #897d82;\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/bedk0.myrdbx.io\/wp-content\/uploads\/russianmining-png.avif\" alt=\"\" class=\"wp-image-4479 not-transparent\" title=\"\" srcset=\"https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/russianmining-png.avif 1024w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/russianmining-300x300.avif 300w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/russianmining-150x150.avif 150w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/russianmining-768x768.avif 768w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/russianmining-12x12.avif 12w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>In addition to residential crackdowns, mobile mining rigs have emerged as a tactic to evade detection, with some miners using vehicles to house crypto mining setups. Power companies, responding to the increased energy strain, are actively identifying and penalizing unauthorized miners, with <a class=\"interlink\" href=\"https:\/\/blog.infinity-hash.io\/ru\/transparency-reports\/\" target=\"_blank\">\u043e\u0442\u0447\u0435\u0442\u044b<\/a> of improvised mining operations in unconventional locations like forests and municipal facilities. Russian lawmakers are also exploring a new tax on industrial-scale mining, which could be an important revenue source for the state.<\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/invezz.com\/news\/2024\/10\/30\/russian-authorities-target-rising-home-crypto-mining-operations\/\" rel=\"nofollow noopener\" target=\"_blank\">Invezz<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"UAE_Argentina_and_Ethiopia_Launch_State-Backed_Bitcoin_Mining_Initiatives\"><\/span>UAE, Argentina, and Ethiopia Launch State-Backed Bitcoin Mining Initiatives<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Three recently inducted BRICS nations\u2014Argentina, the UAE, and Ethiopia\u2014have begun state-backed Bitcoin mining operations, as reported by Matthew Sigel, Head of Digital Assets Research at VanEck. This move represents an effort within the BRICS coalition to explore digital assets as a means of economic resilience and financial autonomy. The BRICS bloc, now larger than the G7 in combined GDP, is reportedly interested in developing an alternative trade system that reduces dependence on the U.S. dollar, with Bitcoin playing a potential role in this strategy.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-dominant-color=\"3e9965\" data-has-transparency=\"false\" style=\"--dominant-color: #3e9965;\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/bedk0.myrdbx.io\/wp-content\/uploads\/datacentergovernment-png.avif\" alt=\"\" class=\"wp-image-4478 not-transparent\" title=\"\" srcset=\"https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/datacentergovernment-png.avif 1024w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/datacentergovernment-300x300.avif 300w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/datacentergovernment-150x150.avif 150w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/datacentergovernment-768x768.avif 768w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/datacentergovernment-12x12.avif 12w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Sigel also noted that Russia\u2019s Sovereign Wealth Fund is investing in Bitcoin mining and artificial intelligence infrastructure across BRICS countries, aligning with a broader trend to support blockchain technology. The initiative could facilitate cross-border trade settlement within the bloc, enhancing financial independence.<\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/crypto.news\/vaneck-uae-argentina-and-ethiopia-begin-state-backed-bitcoin-mining\/\" rel=\"nofollow noopener\" target=\"_blank\">crypto.news<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Bitcoin_Mining_to_Heat_Norwegian_Fishing_Village_Building_in_Arctic_Circle\"><\/span>Bitcoin Mining to Heat Norwegian Fishing Village Building in Arctic Circle<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Sazmining, a retail-focused bitcoin mining company, is establishing a unique facility in northern Norway to replace an oil boiler and heat a large building using excess heat from mining operations. The facility, set to go live on December 1, aims to leverage bitcoin mining&#8217;s intense heat production to keep the building warm and even aid in fish drying, a vital part of the local economy. CEO Kent Halliburton views this setup as an opportunity to demonstrate bitcoin mining&#8217;s potential benefits to other Arctic communities, emphasizing that liquid-cooled rigs will keep the noise down.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-dominant-color=\"9b8978\" data-has-transparency=\"false\" style=\"--dominant-color: #9b8978;\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/bedk0.myrdbx.io\/wp-content\/uploads\/fishingvillage-png.avif\" alt=\"\" class=\"wp-image-4477 not-transparent\" title=\"\" srcset=\"https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/fishingvillage-png.avif 1024w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/fishingvillage-300x300.avif 300w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/fishingvillage-150x150.avif 150w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/fishingvillage-768x768.avif 768w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/fishingvillage-12x12.avif 12w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Powered by Norway\u2019s abundant hydropower, this carbon-neutral operation offers both economic and environmental benefits. Sazmining plans to charge the building a service fee, which helps offset traditional heating costs while maintaining mining profitability even after Bitcoin\u2019s recent halving. Despite concerns from some Norwegian lawmakers regarding the environmental impact of bitcoin mining, Halliburton believes the project will educate legislators on mining\u2019s dual-purpose potential, especially in extreme climates where heat is essential.<\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/www.coindesk.com\/business\/2024\/10\/28\/a-bitcoin-miner-is-setting-up-in-the-arctic-circle-to-heat-up-building-in-fishing-village\/\" rel=\"nofollow noopener\" target=\"_blank\">coindesk.com<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Marathon_Digital_to_Reuse_Bitcoin_Mining_Heat_for_Finnish_District_Heating\"><\/span>Marathon Digital to Reuse Bitcoin Mining Heat for Finnish District Heating<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Marathon Digital Holdings has launched a pilot project in Finland to use excess heat from its Bitcoin mining facility to provide heating for residents in the Satakunta region. This initiative, connected to Finland\u2019s district heating network, will supply sustainable warmth to over 11,000 residents, marking Marathon\u2019s first foray into district heating. By recycling heat from its mining rigs, the company addresses environmental concerns related to Bitcoin mining\u2019s energy consumption while repurposing this by-product for the benefit of the community. <\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-dominant-color=\"998976\" data-has-transparency=\"false\" style=\"--dominant-color: #998976;\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/bedk0.myrdbx.io\/wp-content\/uploads\/finnish-png.avif\" alt=\"\" class=\"wp-image-4475 not-transparent\" title=\"\" srcset=\"https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/finnish-png.avif 1024w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/finnish-300x300.avif 300w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/finnish-150x150.avif 150w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/finnish-768x768.avif 768w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/finnish-12x12.avif 12w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>In the wake of Bitcoin\u2019s 2024 halving and decreased block rewards, Marathon\u2019s heat recycling strategy offers a potential revenue stream for miners facing tightened profit margins. CEO Fred Thiel highlights this as a step toward sustainable practices, with the company aiming to integrate economic and environmental benefits. This model, already being explored by smaller firms like Heatbit, is an example of the growing interest in sustainable solutions within the crypto mining industry, especially in energy-reliant regions like Finland.<\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/invezz.com\/news\/2024\/10\/28\/marathon-bitcoin-mining-heats-finnish-city-with-recycled-energy\/\" rel=\"nofollow noopener\" target=\"_blank\">invezz.com<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Illegal_Bitcoin_Mining_Costs_Malaysia_Over_100_Million_in_Electricity_Losses\"><\/span>Illegal Bitcoin Mining Costs Malaysia Over $100 Million in Electricity Losses<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Malaysia\u2019s Tenaga Nasional Berhad (TNB) reported that illegal Bitcoin mining has resulted in electricity theft losses exceeding 440 million ringgit (about $101 million) since 2020. According to TNB\u2019s Criminal Investigation Department, unauthorized power usage to fuel crypto mining rigs surged sharply, causing a major financial strain. Losses escalated from 5.9 million ringgit in 2020 to over 140 million ringgit in 2021 and, despite recent enforcement efforts, continue to impact TNB\u2019s finances with significant losses recorded each year.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-dominant-color=\"38857c\" data-has-transparency=\"false\" style=\"--dominant-color: #38857c;\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/bedk0.myrdbx.io\/wp-content\/uploads\/malaysia-png.avif\" alt=\"\" class=\"wp-image-4476 not-transparent\" title=\"\" srcset=\"https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/malaysia-png.avif 1024w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/malaysia-300x300.avif 300w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/malaysia-150x150.avif 150w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/malaysia-768x768.avif 768w, https:\/\/blog.infinity-hash.io\/wp-content\/uploads\/malaysia-12x12.avif 12w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Authorities have taken measures to mitigate this issue, including the seizure of nearly $500,000 worth of mining-related electrical equipment and an investigation into tax evasion linked to cryptocurrency activities. While crypto mining comprises a relatively minor share of Malaysia\u2019s overall energy use, its financial impact on TNB is substantial. Law enforcement and government agencies are now intensifying efforts to curb illegal mining operations, aiming to prevent further losses in the future.<\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/crypto.news\/illegal-bitcoin-mining-costs-malaysian-electricity-company-over-100m\/\" rel=\"nofollow noopener\" target=\"_blank\">crypto.news<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Network Overview This week, Bitcoin mining metrics show the results of a very turbulent market, as we continue to approach the US election day. The network hash rate saw a new uptick of 4.15%, continuing the same growth trend. Mining difficulty meanwhile did not have an adjustment yet. As for Bitcoin price, we saw 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