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Chinese Miners Migrate to Nordic Regions, Mining Exec Says Hashrate Migration One of the ‘Biggest Developments’ China has the largest concentration of bitcoin miners worldwide with estimates noting the country captures anywhere between 50-65% of the global hashrate. Xinjiang, the autonomous region of the People’s Republic of China, ostensibly accommodates 35% of the hashrate. This week a regional report from China and statements from the head of operations at Genesis Mining, indicate that Chinese miners are migrating from the area to Nordic countries like Sweden...

The region recorded the wettest weather in over 20 years, increasing HEP production. Per Genesis Mining’s head of operations, the firm’s profits tripled over the course of 2020. Norway had the lowest electricity prices in the International Energy Agency. The Nordic region has once again become profitable for crypto miners after a period of high electricity costs. A report unveiled this news on December 27, noting that this year recorded the wettest weather and mild temperature in more than 20 years. As a result of the increased rainfall, hydro-electric plants in the region had a glut of p...

Bitcoin price hits new all-time high above $24,000 as institutions drive up demand Image via Unspalsh This week CryptoCompare data shows the price of Bitcoin (BTC) moved up from around $19,1000 at the start of the week to hit a new all-time high above $24,150 before enduring a correction that saw the flagship cryptocurrency’s price dip to $22,800 at press time. Ether (ETH), the second-largest cryptocurrency by market capitalization, moved from $580 to a 4670 yearly high, far from its previous all-time high seen in January 2018 close to the $1,400 mark per token. As BTC’s ...

Genesis Mining Is Converting Excess Bitcoin Datacenter Heat Into Greenhouse Power in Sweden One of the largest bitcoin mining operations in the world, Genesis Mining, has been working on an experiment with Systemair, Lulea Technical University, Research Institute of Sweden, and the local Boden municipality. The teams in Sweden are developing a system that converts excess heat from Genesis’s bitcoin mining to power greenhouse operations. Bitcoin mining is extremely competitive and the network consumes a lot of electricity to secure transactions and mint new coins. For inst...

Bitcoin breaks records, what happens next, Coinbase IPO: Hodler’s Digest, Dec. 13–19 The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — one week on Cointelegraph in one link!   Years of price falls and drama followed. Nonetheless, believers remained confident that one day, one day, And on Dec. 16, 2020, that day finally came. In quick succession, BTC smashed through $20,000, $23,800. This stumbling block was eviscerated over the weekend when BTC headed above $24,000. In an extraordinary run, Bitcoin’s price has surged by m...