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Bitcoin Hits $24000 In Iran As Government Recognises Crypto Mining As An Industry

Recently, Iran have announced that they will start to recognise cryptocurrency mining as an industry. This comes after an increased pressure on the country by the United States changing the economic sanctions. Along with this news comes the price of Bitcoin on the Iranian exchanges. He Price of Bitcoin in Iran is around $24000 at the time of writing. The exchange platform in Iran, Exir has reported that a price of 1,020,000,000 IRR for just one Bitcoin. This brings the value of Bitcoin above the previous all-time record of $20,000 in Iran. The Central Bank of Iran is ready to...

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Interested In Cloud Mining? Here Are The Top Providers Of 2018

Cloud mining is the easiest way for newbies to get into cryptocurrency mining, without having to purchase any of the expensive equipment or deal with the high associated costs, from the likes of energy bills etc. As you know, mining profitability for the likes of Bitcoin is down at the moment, through with this in mind, it’s still clear the cloud mining is a services that is very much sought after. Tech Radar have carried out some extensive research that discusses the top cloud mining providers of this year, Tech Radar state: “We explore five of the most reputable cloud...

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Mines Now Being Used To Mine… Bitcoin

A decommissioned mine in the Norwegian Fjords is alleged to have been converted into a data centre, designed to mine Bitcoin in an efficient and sustainable manner. It’s not the first time an old mine has been re-designed as a Bitcoin mine, there’s a very good reason for that too, old mines allow for the perfect environment for cryptocurrency mining. According to Coinjournal: “Frankfurt-based Northern Bitcoin is the company behind the Lefdal Mine in Norway that is challenging the status quo of Bitcoin mining and redefining it. Founded in 2015, Northern Bitcoin is making sustainable infrastructure available to Bitcoin and...

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DPW Holdings New Hydroelectric Dam Is A Crypto Mining Revolution

Valatie Falls Hydroelectric Dam, New York, is set to see a new life within cryptocurrency mining, after firm DPW Holdings Inc made a bid to purchase the aging dam in March 2018. This will see a new cryptocurrency mining branch open up within DPW Holdings, a brave move considering the falling profitability of cryptocurrency mining as a result of depleting values from currencies such as Bitcoin and Litecoin and of course, an increase in the price of energy and mining equipment. Valatie Falls Hydroelectric Dam (better known as Valatie Falls Hydro) has the capacity to produce around 1,700 megawatt hours...

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Bitcoin Mining Is Bad For The Environment, So What? So Is FIAT

 Bitcoin mining is the process of extracting Bitcoin from the blockchain. In theory, it’s a concept that is hard to grasp, but the general outline is that Bitcoins (and other cryptocurrencies) are mined by computers making complicated calculations. The problem is, these computers and devices uses a huge amount of energy when solving the algorithms, even just to mine small fractions of Bitcoin. So, we have a problem don’t we. Expensive machines all working together, creating high energy bills, a lot of heat and a big carbon footprint, in return for a small amount of Bitcoin. What’s more, further...

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