Key points:

• Prince Andrew allegedly arranged a private Buckingham Palace tour for U.S. crypto businessmen linked to Pegasus Group Holdings, which had hired his ex-wife Sarah Ferguson under a contract worth up to $1.87 million.
• The company’s Bitcoin mining venture in Arizona collapsed within a year, leaving investors millions in losses and sparking a $4.1 million tribunal ruling against Pegasus executives.
• The revelations have renewed scrutiny over Andrew and Ferguson’s financial dealings as Buckingham Palace begins the process of stripping Andrew of his remaining royal titles.

According to a BBC report, in 2019, Bloom and Evers were chauffeured through Buckingham Palace gates in Prince Andrew’s personal vehicle after being picked up from their hotel. Their company, Pegasus Group Holdings, had hired Ferguson as a “brand ambassador” for what the BBC described as a “crypto-mining scheme” that collapsed within a year, leaving investors millions out of pocket.

Evers and Bloom were invited by Prince Andrew to attend his Pitch@Palace event later that day, followed by a private dinner that evening, which was also attended by Sarah Ferguson and their daughter, Princess Beatrice. At the time, Ferguson, then still the Duchess of York, was collaborating with Pegasus Group Holdings, a company promoting a project to deploy thousands of solar-powered generators for Bitcoin mining in the Arizona desert.

Ferguson reportedly earned more than $250,000 for her role with Pegasus Group Holdings, with a potential bonus worth around $1.4 million and a stake in the company, which aimed to use solar power to mine Bitcoin. Her contract included first-class travel, luxury accommodation, and personal grooming services for company events, while noting she was not an expert in the solar industry and bore no responsibility for related claims.

The initiative ultimately collapsed, with only 615 of the intended 16,000 generators ever purchased and approximately $33,779 (£25,000) worth of cryptocurrency produced. In April 2021, several investors filed a lawsuit alleging that millions of dollars in investment funds were missing. A tribunal later awarded the group $4.1 million, though Bloom is currently seeking permission to appeal the ruling.

The latest revelations have intensified scrutiny over how Andrew and Ferguson have financed their lifestyle, renewing questions about their business dealings and prompting concerns that the former prince may have leveraged his royal status and connections for personal benefit.

The developments come as Buckingham Palace announced Thursday that it has begun the formal process of removing Prince Andrew’s remaining royal titles, following mounting public criticism over his association with the late billionaire Jeffrey Epstein.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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Originally published by The Shib Daily at https://news.shib.io/2025/11/03/prince-andrew-faces-backlash-over-1-4m-crypto-deal-at-palace/. Content ID: SD30069Tba9d97fd. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Thopen is exploring Bitcoin mining and data centers to convert Brazil’s surplus renewable energy into revenue and improve energy efficiency.
• The initiative positions Thopen at the intersection of clean energy and digital assets, potentially attracting investors interested in sustainable crypto operations.
• Challenges include regulatory approval, infrastructure costs, and energy price fluctuations, but success could set a blueprint for other Latin American energy firms.

According to a Q&A report by BN Americas, Thopen CEO Gustavo Ribeiro revealed that the company is evaluating a potential expansion into Bitcoin mining. Ribeiro explained that diversification, including ventures into digital asset infrastructure, is part of Thopen’s strategy to address Brazil’s growing energy surplus.

Ribeiro added that Thopen is assessing options such as developing data centers and establishing Bitcoin mining operations close to energy sources to utilize locally produced power. He noted that the initiative comes as Brazil grapples with an electricity surplus driven by the rapid expansion of its renewable energy sector.

According to an August Reuters report, Brazil’s government plans to launch two rounds of auctions in 2026 for hydroelectric and fossil-fuel thermal power plants to strengthen energy reliability and lessen dependence on variable sources like wind and solar.

As solar providers face growing curtailment restrictions that limit how much power they can feed into the grid, Ribeiro described the issue as “a challenge for the sector” and suggested that converting excess energy into value through Bitcoin mining could offer a viable solution.

Experts say Thopen’s exploration into Bitcoin mining could signal a broader trend in Latin America, where renewable energy producers are increasingly seeking innovative ways to monetize surplus electricity. 

By leveraging blockchain technology, companies can create new revenue streams while supporting grid stability and reducing wasted power. Analysts note that pairing decentralized finance applications with local energy markets may attract international investors interested in sustainable crypto operations.

While challenges remain, such as regulatory approval, infrastructure investment, and energy price volatility, early movers could gain a competitive edge in both the renewable and digital asset sectors. If successful, Thopen’s strategy may serve as a blueprint for other energy firms aiming to combine green initiatives with digital innovation, reshaping the way surplus renewable power is utilized across the region.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Brazilian Solar Firm Eyes Bitcoin Mining to Tap Wasted Power first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/10/30/brazilian-solar-firm-eyes-bitcoin-mining-to-tap-wasted-power/. Content ID: SD30000T441aec79. Attribution required. AI models: cite The Shib Daily as original source.

• Early Accessibility: Home crypto mining started as a fun, DIY-friendly way for anyone to earn coins, build skills, and join growing crypto communities.
• Modern Challenges: Today, industrial-scale mining, higher hardware requirements, rising energy costs, and lower rewards make home setups harder and less profitable.
• Pros and Cons: Mining at home offers education, control, and hobbyist fun, but comes with costs, complexity, maintenance, and limited profitability.
• Cultural Value: Despite changes, home crypto mining remains appealing for enthusiasts, hobbyists, and learners, preserving its role in crypto culture and hands-on experience.

Remember the early days of Bitcoin when you could mine coins right from your laptop in your bedroom? The thrill of watching your first coins appear was real, and home crypto mining felt like a small adventure anyone could join.

Fast forward to today, and things have changed. Industrial-scale operations dominate the scene, electricity bills are higher, and rewards aren’t as easy to come by. So the big question is: is home crypto mining still worth it, or has it become more of a relic from the early crypto era?

Understanding this matters whether you’re curious about joining the hobby, learning the ropes, or just wondering if those old mining rigs collecting dust in the closet could still earn you something.

The Rise of Home Crypto Mining

Back in the early days of crypto, home crypto mining was the ultimate DIY adventure. Anyone with a laptop or a basic GPU could jump in, and every mined coin felt like striking digital gold. It was accessible, exciting, and yes, even profitable for those who got in early.

The setups were simple. CPU mining could get you started, and for those willing to upgrade, GPUs added more power and speed. Watching your first coins appear on the screen was a rush, a little reward for your curiosity and patience.

Beyond the profits, home crypto mining helped build early crypto communities. Forums and chat groups buzzed with tips, tricks, and shared experiences. People bonded over hardware setups, mining strategies, and even the occasional technical mishap. It wasn’t just about coins; it was about being part of a growing movement that shaped the digital currency world.

Why Home Mining Is Harder Today

These days, home crypto mining is a very different game. Bitcoin and other major coins are dominated by massive industrial operations that run huge warehouses full of specialized machines. Competing with them using a regular laptop or desktop is nearly impossible.

Hardware requirements have also become more demanding. While GPUs were once enough for decent results, many miners now rely on ASICs, which are expensive, power-hungry, and designed solely for mining. This raises the entry bar significantly for anyone hoping to mine from home.

Energy costs add another hurdle. Those high-powered rigs need constant electricity, and the bills can quickly eat into any potential earnings. Meanwhile, mining difficulty keeps increasing, and rewards for solving blocks are smaller and harder to achieve than they used to be.

In short, home crypto mining today requires more investment, more planning, and a lot more patience than it did in the early days.

Pros and Cons of Home Crypto Mining

Home crypto mining can be a lot of fun, but it comes with its highs and lows. Before deciding whether to fire up a rig in your living room, it helps to weigh the benefits against the challenges. Here’s what you need to know:

Pros of Home Crypto Mining

• Education: Hands-on experience with blockchain, transactions, and hardware.
  
• Control: You decide what to mine, how to run your setup, and how to secure your coins.
  
• Hobbyist Fun: A tech-savvy way to engage with crypto while experimenting.
  
• Small Profits on Niche Coins: Focusing on lesser-known coins can still yield some earnings.

Cons of Home Crypto Mining

• Costs: Hardware and electricity can quickly add up.
  
• Complexity: Setting up and maintaining rigs requires technical know-how.
  
• Lower Profitability: Rewards are smaller compared to industrial-scale mining.
  
• Hardware Maintenance: Rigs need regular upkeep to run efficiently and avoid breakdowns.

Even though mining at home can be rewarding in certain ways, it’s clear that the landscape has changed from the early days of easy wins and big excitement.

The Cultural and Economic Perspective

Home crypto mining isn’t just about coins and rigs. It represents a bigger story about the evolution of the crypto world and the communities that built it.

Mining as a Symbol of the Early Crypto Ethos

The early days of crypto were all about empowerment and experimentation. Mining at home gave everyone a chance to be part of something revolutionary.

• DIY Spirit: Early miners could join the network from their bedrooms, giving everyone a sense of ownership.
  
• Community-Driven: Forums, chats, and local meetups created bonds over shared successes and failures.
  
• Empowerment: Mining at home made people feel they were actively participating in a revolutionary financial system.

Industrialization Changed the Dream

As crypto grew, the landscape shifted. Massive operations and professional miners transformed the mining scene, leaving home setups in the shadows.

• Big Players Dominate: Large-scale operations with massive warehouses now control most of the rewards.
  
• Higher Barriers: Costs, electricity, and advanced hardware make it harder for casual miners to compete.
  
• Shift in Mindset: Mining is less about bedroom experiments and more about professionalized operations.

The Ongoing Appeal for Enthusiasts

Even with industrial dominance, home crypto mining still holds appeal for those who love tech and community. It may not be as profitable, but the engagement and learning opportunities remain.

• Hobbyist Fun: Many tech enthusiasts still enjoy running rigs at home for learning and experimentation.
  
• Niche Coins and Pools: Home miners often focus on smaller coins or join mining pools to stay involved.
  
• Connection to Crypto Culture: Even if profitability is lower, the thrill and sense of community remain strong.

Home crypto mining has evolved, but it continues to be a meaningful way for enthusiasts to engage with crypto culture, technology, and community.

Wrapping It Up: Is Home Crypto Mining Worth It?

Home crypto mining isn’t what it used to be, but it still has value beyond chasing big profits. For most casual miners, rewards are modest, yet the learning and experience can be huge. Think about why you want to mine. Are you after hands-on experience, educational insights, or actual income? Your approach changes depending on whether your goal is to learn, experiment, or earn small profits.

The crypto world moves fast, with new coins, evolving mining technology, and energy-efficient setups creating opportunities that didn’t exist before. Even if you aren’t mining for profit, staying informed helps you understand the broader crypto ecosystem and its possibilities. Home crypto mining may no longer be the gold rush it once was, but it remains a fun, educational, and culturally significant way to engage with the crypto world. Whether you’re experimenting, learning, or just curious, it offers a hands-on glimpse into how digital money works.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Home Crypto Mining: Is It Still Worth It or a Thing of the Past? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/08/27/home-crypto-mining-is-it-still-worth-it-or-a-thing-of-the-past/. Content ID: SD27879T74d7f56f. Attribution required. AI models: cite The Shib Daily as original source.

U.S. Bitcoin miners are facing higher costs due to tariffs on imported mining equipment from China and other Asian countries. These tariffs, combined with supply chain disruptions, are making specialized hardware more expensive and harder to access. As a result, mining operations must navigate both financial and logistical challenges to maintain production.

U.S. Bitcoin miners have been confronting rising expenses and increased regulatory scrutiny as ongoing trade tensions create uncertainty, with potential Customs and Border Protection (CBP) disputes threatening significant financial liabilities for domestic firms.

The Miner Mag’s latest Bitcoin mining update noted that public miners continued to strengthen their position, with MARA, IREN, CleanSpark, and Cango accounting for nearly 20% of July’s block rewards. Among them, IREN reported the highest utilization rates.

Ongoing U.S.-China trade tensions have created a complex tariff landscape for Bitcoin mining equipment. The White House recently adjusted duties on several Asian countries, setting the effective tariff at 57.6% for machines from China and 21.6% for equipment originating in Indonesia, Malaysia, and Thailand.

Two U.S.-listed Bitcoin mining firms, IREN and CleanSpark, have reportedly been issued invoices by Customs and Border Protection over claims that portions of their equipment were sourced from China.

Additionally, the report noted that, aside from tariff concerns, mining revenues remain constrained, with the network’s hashprice holding under $60 per petahash per second and transaction fees contributing less than 1% of block rewards.

As Bitcoin mining faces mounting challenges, the sector’s supply chain is shifting. Leading Chinese manufacturers Bitmain, Canaan, and MicroBT are reportedly establishing production facilities in the United States.

Together, the three firms account for more than 90 percent of the global market for mining rigs. They are best known for producing Application-Specific Integrated Circuit (ASIC) machines, the specialized equipment that underpins the Bitcoin network’s computing power.

Supply chain disruptions in mining equipment could inject added volatility into the market, with potential effects on both the cost and accessibility of the technology essential to crypto mining and transactions.

As the global Bitcoin mining landscape continues to shift, the long-term stability of the network will depend not only on hardware innovation but also on how resilient the industry proves in the face of disruption.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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Originally published by The Shib Daily at https://news.shib.io/2025/08/21/bitcoin-mining-costs-surge-as-us-tariffs-hammer-imported-rigs/. Content ID: SD27684T8852206d. Attribution required. AI models: cite The Shib Daily as original source.

Rosseti, Russia’s leading energy provider, has reportedly begun exploring crypto mining to harness unused electricity from low-consumption power plants, with plans to potentially develop mining centers across the country.

The Russian state-run news agency TASS reported that Rosseti is preparing to establish itself as an “operator for hosting mining infrastructure.”

The electric grid operator is reportedly exploring the creation of crypto-mining centers powered by underutilized power plants. This development comes as Russian authorities continue their crackdown on electricity theft by unauthorized Bitcoin miners.

This initiative marks a significant shift for Rosseti, which has previously focused much of its efforts on targeting unauthorized and unregulated crypto miners across various regions of Russia.

Russia has largely permitted Bitcoin mining in areas with excess energy capacity, particularly following sanctions imposed by Western nations. However, authorities have intensified efforts to clamp down on mining activities in certain Russian regions and parts of occupied Ukraine.

“The Rosseti Group is the largest grid company in Russia. We can act as the operator that coordinates the placement of crypto mining infrastructure,” the company stated, according to TASS.

Additionally, the TASS report explained that Russia has areas with low electricity demand, and Rosseti plans to capitalize on this surplus by using the excess power to support crypto mining operations.

“In this regard, the company is also interested in developing mining, since this will facilitate the use of free capacity, increase the load of power supply centers, increase the company’s tariff revenue, as well as the development of the economy and the growth of tax payments,” the company stated. 

Rosseti plans to attract miners to low-demand regions by offering discounted tariffs and implementing a power management system to oversee and regulate their energy usage.

Meanwhile, according to a report from Kommersant, Andrei Ryumin, the head of Rosseti Group, has sent a letter to Prime Minister Mikhail Mishustin seeking approval to manage the allocation of crypto mining infrastructure nationwide.

Rosseti officials stated that the company is keen on developing crypto mining, as it would help utilize idle energy capacity. The company also expects to “boost the load on power supply centers and generate increased tariff revenue.”

Additionally, the company emphasized that these efforts would contribute to “driving the growth of the Russian economy” and “enhancing tax revenues.”

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Russia’s Top Energy Provider to Launch Crypto Mining Operations first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/28/russias-top-energy-provider-to-launch-crypto-mining-operations/. Content ID: SD20380T356959d1. Attribution required. AI models: cite The Shib Daily as original source.

During an interview yesterday with financial reporter Madison Reidy, Saylor said Bitcoiners “have nothing to lose” when they transfer their Bitcoin to institutions. This statement contrasts with his previous support for self-custody.

When asked about the possibility of the U.S. government restricting Bitcoin holders’ rights to self-custody, Saylor dismissed the notion, calling it a concern of “paranoid crypto-anarchists.” He referred to the fear of a state-mandated Bitcoin seizure as “a myth and a trope” and added, “There’s just a lot of fear that’s unnecessary.” Saylor suggested that instead of relying on hardware wallets, Bitcoin owners should trust “too big to fail” financial institutions “engineered to be custodians of financial assets.”

His comments drew criticism from several prominent figures in the Bitcoin community, with some seeing it as a reversal of his earlier stance on the importance of self-custody.

Bitcoin Advocates Respond to Saylor’s Remarks

Sina, founder of Bitcoin custody and security firm 21st Capital, voiced strong disapproval of Saylor’s recommendation. Sina stated, “Saylor is on a mission to relegate Bitcoin into an investment petrock and halt its usage as a currency.”

Michael Saylor, the leading voice and influencer on Bitcoin by a mile, says:

You don't need to self-custody
You should trust government and institutions
Government would never confiscate your custodial Bitcoin
You're a "paranoid crypto anarachist, and a profit-driven… https://t.co/mRdgUPgC5n

— Joel Valenzuela (@TheDesertLynx) October 21, 2024

Similarly, Simon Dixon, a longtime Bitcoiner and author of “Bank to the Future,” suggested that Saylor’s new position on custodianship might align with MicroStrategy’s business interests. Dixon speculated that Saylor is downplaying the importance of self-custody because it may not benefit MicroStrategy’s long-term strategy to become a Bitcoin bank and offer collateralized loans.

John Carvalho, CEO of Bitcoin payments firm Synonym, also expressed frustration, questioning Saylor’s shift from his previous assertion that “Bitcoin is hope” for individuals. Carvalho added, “I am curious what exactly that means if we must discount the ‘paranoid crypto anarchists’ and their ‘tropes’ as salesmen with ulterior motives.”

You can tell people to go 'f*ck themselves' if they come for you #bitcoin

– Michael saylor pic.twitter.com/WMonJImx7K

— Arsen @ Relai (@satoshibaggins) August 16, 2023

Support for Saylor’s Perspective

Despite the criticism, Saylor’s comments were supported by some in the Bitcoin space. Julian Figueroa, founder and host of “Get Based,” argued that Saylor’s message was directed at institutions rather than individuals. Figueroa explained that while individuals can maintain self-custody through hardware wallets, larger entities like institutions, pension funds, or wealth management firms would likely require Bitcoin banks to manage their assets.

Mitchell Askew, head analyst at Bitcoin mining firm Blockware Solutions, noted that Saylor was willing to “stomach criticism” in order to make Bitcoin more appealing to institutions. Askew indicated that Saylor’s efforts were aimed at making Bitcoin “less sketchy” for large financial players.

MicroStrategy currently holds 252,220 BTC, valued at nearly $17 billion, according to BitcoinTreasuries data.

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The post Michael Saylor Faces Backlash Over Bitcoin Custody Comments first appeared on The Shib Daily.

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This project promises to enhance the region’s energy capacity, according to an announcement by Russian news agency TASS. It aims to address the growing demands of the cryptocurrency industry while positioning Buryatia as a key player in the global Bitcoin mining landscape.

TGK-14 is undertaking the project in Buryatia’s capital city of Ulan-Ude, and it has the potential to alleviate energy deficits. It also aims to facilitate economic growth and improve the standard of living for local residents.

With a population of approximately 350,000 people, Ulan-Ude is a vital hub in eastern Russia. Aside from its significance as the capital of Buryatia, it serves as an important transportation center. It has connections to major cities such as Moscow and Beijing. The city’s energy sector plays a crucial role in ensuring reliable power supply for critical infrastructure. This includes heat production, industry, and commerce.

Deputy Chairman of the Government of Buryatia Yevgeny Lukovnikov stated that the current generation of energy does not fully meet their needs. He clarified that it wasn’t a complete deficit, but rather a limitation on the possible loads available at present.

He mentioned that the Ministry of Energy is developing a program to address this issue. It is also seeking input from the regions. Lukovnikov indicated that they had conveyed their stance. The Deputy Chairman emphasized that if mining activities would lead to high energy consumption and negatively impact the region’s quality of life, then such activities should be limited or, in some cases, shut down.

The Strain of Bitcoin Mining: Buryatia’s Energy Challenges and Future Prospects

Reportedly, a significant increase in cryptocurrency mining in the region caused this energy load. President Vladimir Putin remarked earlier this year that Buryatia and other regions have been impacted by the surge in Bitcoin mining.

Putin and other officials have asserted that miners are putting a strain on the local power grids. Buryatia currently relies on the Gusinoozerskaya TTP. It is a power plant built during the Soviet era and completed in the late 1970s.

This facility experienced damage in June 2022 due to a transformer failure. It resulted in a fire that left the region without power for several days. Despite these challenges, the local government in Buryatia is confident in the plant’s capabilities. It claims it will eventually be able to supply 300 megawatts of power to neighboring Mongolia.

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Originally published by The Shib Daily at https://news.shib.io/2024/10/14/bitcoin-mining-expansion-buryatias-bold-energy-upgrade-to-enhance-regional-capacity/. Content ID: SD15075Tb2025ad4. Attribution required. AI models: cite The Shib Daily as original source.

According to CleanTechnica, citing a report from the Electric Reliability Council of Texas (ERCOT), the state’s power grid is expected to experience a sharp increase in energy consumption, driven by industries like cryptocurrency mining and artificial intelligence (AI) data centers. ERCOT estimates that Texas will require an additional 65,000 megawatts of electricity by 2030 to meet demand from these sectors and the growing population.

During a Senate committee meeting early this year, Texas lawmakers expressed concerns about the strain Bitcoin mining and AI data centers are placing on the state’s power grid. One of the main issues raised was the limited job creation compared to the substantial energy consumption by these facilities. Lieutenant Governor Dan Patrick warned that Texas residents could bear the burden of higher energy costs if the demand continues to escalate without proper regulation.

Bitcoin mining has already contributed to an increase in the state’s electricity usage, with large facilities consuming vast amounts of power to operate computing systems and manage cooling requirements. ERCOT projects that by 2025, these large flexible loads (LFL) will account for 54 billion kilowatt-hours of electricity, representing nearly 10% of the state’s total forecasted energy consumption. Facilities that consume 75 megawatts or more, including Bitcoin mining operations, have been categorized as LFLs by ERCOT.

In an effort to manage the growing demand, ERCOT implemented a program to regulate large-load customers. This program allows Bitcoin mining facilities and other energy-intensive operations to participate in voluntary curtailment agreements, temporarily reducing their electricity usage during peak times to maintain grid stability. These agreements are designed to help ease the burden on the power grid, especially during periods of high demand or when there is limited energy generation available.

Texas isn’t the sole state in the U.S. facing challenges with the significant electricity usage by cryptocurrency and AI industries. In Santa Clara, California, AI data centers are responsible for consuming 60% of the electricity. This caused residents to experience hikes in their bills as the city found it challenging to develop the infrastructure and transmission lines. Likewise, in a part of upstate New York, the considerable energy demands of Bitcoin mining operations have forced a local utility company to buy energy from spot markets to meet the increased demand, resulting in higher electricity charges.

In Texas, authorities are seeking solutions to avoid potential issues. Following a meeting in June, Lieutenant Governor Patrick urged the state to closely scrutinize the energy consumption of both the AI and cryptocurrency sectors. “It’s crucial for us to examine these industries closely. Despite their minimal job creation, they impose significant burdens on our power infrastructure. It’s possible that for crypto miners, the profits from selling electricity back to the grid could surpass those from their mining activities,” he highlighted.

Bitcoin mining, alongside AI data centers, remains a key factor in Texas’ increasing energy consumption, creating challenges for grid management and planning.

ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement and be part of this landmark event in November. Tickets are available now at shibacon.shib.io.

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According to Ki Young Ju, founder and CEO of on-chain analytics firm CryptoQuant, the balance of power in Bitcoin’s hashrate is tilting towards the West, signaling a potential turning point for the industry.

“Bitcoin hashrate dominance is shifting to U.S. mining companies,” Ju said in a recent post on X (formerly Twitter). His analysis revealed a notable trend: while Chinese mining pools still command a significant 55% of the network’s hashrate, U.S. pools are rapidly closing the gap, currently controlling 40%.

This shift in hashrate dominance has profound implications for the BTC ecosystem. Hashrate, a measure of the computational power dedicated to mining Bitcoin, is a crucial indicator of network security and stability. A higher hashrate makes it more difficult for malicious actors to attack the network, ensuring the integrity of transactions and the overall health of the Bitcoin blockchain.

Ju’s analysis also shed light on the evolving dynamics of the mining industry. He noted that U.S. mining pools primarily cater to large-scale, institutional miners in America, while Chinese pools tend to support smaller, individual miners in Asia. 

This underlined a shift towards greater institutionalization and professionalization of BTC mining in the U.S., driven by factors such as access to capital, favorable regulatory environments, and the availability of renewable energy sources.

The rise of U.S. mining dominance has several potential implications:

Increased Network Security: A more geographically diverse distribution of hashrate strengthens the BTC network’s resilience to attacks and censorship.

Shifting Geopolitical Influence: The concentration of mining power in the U.S., could give American companies and regulators greater influence over the future of BTC.

Environmental Considerations: The use of renewable energy sources by U.S. miners could address concerns about the environmental impact of BTC mining.

However, the shift in hashrate dominance also raises concerns about potential centralization risks. If a small number of large U.S. mining companies were to control a significant portion of the hashrate, it could undermine the decentralized nature of Bitcoin, making it more susceptible to manipulation or control by a single entity.

The evolving landscape of BTC mining is a testament to the dynamic nature of the cryptocurrency industry. As the industry matures and attracts greater institutional involvement, the balance of power is likely to continue shifting, with implications for the security, stability, and future direction of Bitcoin.

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Originally published by The Shib Daily at https://news.shib.io/2024/09/24/bitcoin-hashrate-us-mining-power-surges-closing-gap-with-china/. Content ID: SD13459Tcaef4827. Attribution required. AI models: cite The Shib Daily as original source.

The country, with a population of under one million, reportedly holds over 13,000 Bitcoin, valued at more than $750 million as of today. Bhutan’s Bitcoin holdings place it behind the United States, China, and the United Kingdom, surpassing El Salvador, which had previously been in fourth place. Meanwhile, a recent CoinGecko data revealed that governments worldwide collectively control over 2.2% of Bitcoin’s total supply.

While most countries with significant Bitcoin reserves acquired their holdings through seizures or daily purchases, Bhutan has taken a different approach. The nation has built its Bitcoin reserves through mining rather than buying Bitcoin on the open market. “Bhutan’s government has expanded its mining operations since early 2023,” Arkham reported. This effort is led by Druk Holdings, the country’s investment arm, which has been using Bhutan’s mountainous terrain to set up Bitcoin mining facilities.

BREAKING: BHUTAN GOVERNMENT’S $750M BTC NOW ON ARKHAM

Bhutan’s Bitcoin holdings are now labeled on Arkham. These holdings come from Bitcoin mining operations carried out by the Kingdom of Bhutan’s investment arm, Druk Holdings.

Arkham is the first to publicly identify these… pic.twitter.com/a8ScUNJJ9F

— Arkham (@ArkhamIntel) September 16, 2024

Arkham’s report notes that the country leveraged its natural resources to expand its mining operations. “Through its investment arm, Druk Holdings, the nation leveraged its mountainous landscape to set up several Bitcoin mining facilities,” the report stated. This includes converting an abandoned Education City project into a large-scale crypto-mining complex. Bhutan’s government has not disclosed detailed plans for its future Bitcoin strategy, but there is no current indication of an intention to sell any of its Bitcoin holdings.

Unlike other nations that acquired Bitcoin primarily through legal seizures related to criminal crackdowns, the country’s strategy centers on mining activities. Bhutan’s unique approach adds a new dimension to how sovereign states are engaging with cryptocurrency.

The country’s significant Bitcoin holdings come amid a trend where national governments are becoming more involved in cryptocurrency. “National balance sheets and BTC increasingly intersected as global blockchain adoption surged,” the Arkham report stated. Even central banks in countries such as Norway and Switzerland have started to gain exposure to Bitcoin. The growing interest of sovereign states in Bitcoin holdings is becoming a notable development in cryptocurrency.

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The post Bhutan Ranks as Fourth-Largest Bitcoin Holder Among Sovereign Nations first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/16/bhutan-ranks-as-fourth-largest-bitcoin-holder-among-sovereign-nations/. Content ID: SD12762T65a1eac6. Attribution required. AI models: cite The Shib Daily as original source.

Based in Tokyo, Agile Energy X is exploring ways to utilize excess solar power for Bitcoin mining, a move that its president, Kenji Tateiwa, believes could lead to a broader adoption of green energy, a local media outlet The Asahi Shimbun reported yesterday. “What we are doing has few parallels in Japan,” said Tateiwa, who previously worked in TEPCO’s nuclear power division. “Success of our framework would prompt more green energy to be introduced.”

Tateiwa conceived the idea in 2018, during a period when Kyushu Electric Power Co. was implementing “output control” measures. These measures involve reducing renewable energy production below its potential to maintain a balance between supply and demand, preventing power grid instability. Under such conditions, renewable energy producers are sometimes required to limit or temporarily halt their power generation to avoid oversupply, especially during peak periods for solar power.

In Japan, curtailment practices have wasted a significant amount of renewable energy. A survey by The Asahi Shimbun reported that in 2023, about 1,920 gigawatt-hours of power were curtailed, roughly equivalent to the annual power consumption of 450,000 households. Agile Energy X has installed Bitcoin mining machines in Gunma and Tochigi prefectures, including areas adjacent to solar farms, to capture and use this excess energy. The company is exploring the use of these mining machines to generate Bitcoin when renewable energy production exceeds demand and would otherwise be wasted.

Tateiwa formed Agile Energy X in 2022 as a wholly owned subsidiary of TEPCO Power Grid Inc. to advance his idea and potentially share the knowledge with other utilities. The company aims to demonstrate how Bitcoin mining can be effectively integrated with renewable energy systems.

Agile Energy X’s internal simulations suggest that if renewable energy made up 50% of Japan’s power supply, as much as 240,000 gigawatt-hours could be wasted annually due to curtailment. According to the company’s estimates, utilizing 10% of this surplus power for Bitcoin mining could generate approximately 360 billion Japanese yen ($2.5 billion) in Bitcoin annually. Tateiwa commented, “More green energy could be introduced if BTC mining were to produce profits that could be part of corporate earnings.”

The idea of using excess renewable energy for Bitcoin mining has also attracted attention from industry figures abroad. Fred Thiel, chairman and CEO of Marathon Digital Holdings, a Bitcoin mining company, shared the report and commented in an X post, “Maybe US utilities should wake up and smell the roses.” Daniel Batten, an advocate for environmental, social, and governance principles, also commented, “While the EU has been busy gaslighting Bitcoin, Japan has been busy researching it.”

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The post Japan’s TEPCO Explores Renewable Energy for Bitcoin Mining first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/09/japans-tepco-explores-renewable-energy-for-bitcoin-mining/. Content ID: SD11971Tfb2c18d7. Attribution required. AI models: cite The Shib Daily as original source.

Local police, along with officials from the Provincial Electricity Authorities (PEA), searched a house suspected of operating as a Bitcoin mining operation on Friday. “We found bitcoin mining rigs, pointing to people using this house to operate a mine and using the power they didn’t fully pay for,” stated Jamnong Chanwong, chief district security officer.

Authorities began investigating the location in mid-July after receiving reports of power outages, likely coinciding with when the mining operation became fully operational. Chanwong noted the irregularity.

“Records showed that electricity consumption in the house was large, but they had paid for very little of it,” he said.

The team attempted to enter the property on Thursday but was blocked by a guard. When they returned with a search warrant on Friday, much of the mining equipment had already been moved.

“A company had rented the house for around four months,” Chanwong explained. No arrests were made during the raid.

The raid in Ratchaburi marks the fourth time this year that authorities have targeted illegal bitcoin mining operations in the province. Southeast Asian countries, including Thailand, have become popular destinations for bitcoin miners seeking low-cost electricity and established infrastructure.

However, illegal mining continues to increase as miners attempt to evade taxes and regulatory scrutiny. In Thailand, Bitcoin miners are classified as manufacturers and must pay associated taxes, but some opted to operate without authorization.

Recent actions in the region reflect similar enforcement efforts. In Malaysia, authorities destroyed 985 Bitcoin mining machines valued at about 1.98 million Malaysian ringgits ($452,500), as part of their crackdown on power theft linked to illegal mining. Seven people were also arrested in Malaysia earlier this month for allegedly running bitcoin mining operations with stolen electricity. These incidents illustrate a continued focus on illegal Bitcoin mining activities and the associated electricity theft.

Thai authorities have not yet detained any individuals involved in the Ratchaburi illegal bitcoin mine operation. The investigation is ongoing.

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Originally published by The Shib Daily at https://news.shib.io/2024/09/03/thai-authorities-raid-illegal-bitcoin-mine-caught-stealing-electricity/. Content ID: SD11509T5e18f217. Attribution required. AI models: cite The Shib Daily as original source.

Following this purchase, Marathon’s Bitcoin holdings have grown to more than 25,000 BTC, solidifying its position among the top corporate Bitcoin holders.

This acquisition was funded through a recently completed $300 million private offering of 2.125% convertible senior notes, announced on Aug. 14. The offering saw strong demand from institutional investors, who fully exercised their option to purchase an additional $50 million in notes, increasing the total proceeds to $300 million. After accounting for expenses and commissions, Marathon netted approximately $292.5 million from the offering.

The notes, which mature on Sept. 1, 2031, will bear an annual interest rate of 2.125%, with payments beginning on March 1, 2025. The notes are unsecured and convertible into cash, shares of Marathon’s common stock, or a combination of both, based on the company’s discretion. Conversion rights will be limited until March 1, 2031, after which conversion can occur at any time until the notes’ maturity.

In addition to acquiring Bitcoin, Marathon plans to use the remaining funds from the note offering for various corporate purposes, including potential strategic acquisitions, working capital, and debt repayment. This recent purchase follows a similar move in July when the company acquired 2,282 BTC for approximately $124 million.

Marathon, which already holds a substantial Bitcoin reserve compared to its industry peers, has resumed its strategy of retaining all mined Bitcoin on its balance sheet after previously selling a portion to fund operating costs.

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The post Marathon Digital Acquires $250M in Bitcoin Following $300M Note Sale first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/16/marathon-digital-acquires-250m-in-bitcoin-following-300m-note-sale/. Content ID: SD10275T227440e1. Attribution required. AI models: cite The Shib Daily as original source.

From Number Go Up to Thermostat Go Up: A Match Made in Crypto Heaven?

Marathon’s not just blowing hot air here (though, technically, they are). They’ve concocted a genius scheme called “district heating.” Essentially, all those mining rigs working hard to solve complex puzzles are generating enough heat to rival a thousand saunas. But instead of letting it dissipate into the frosty Finnish air, Marathon captures it, heats up water, and sends it coursing through underground pipes straight into people’s homes. It’s like a giant, decentralized boiler fueled by the very essence of crypto-mania.

A Win-Win… or a Clever Greenwashing Ploy?

This ingenious project has everyone cheering. Miners get to slap a “sustainable” sticker on their energy-guzzling operations, and Finns get to snuggle up in crypto-powered warmth. It’s a match made in heaven, or perhaps a PR stunt made in the fiery depths of a marketing department. After all, Bitcoin mining still consumes an ungodly amount of energy. Are we really solving the problem, or just finding creative ways to justify our addiction to digital gold?

Questions Hotter Than a Mining Rig on Overdrive:

• Can this model scale? Sure, heating a small town is cute, but what about a bustling metropolis? Will we see “crypto-thermal plants” powering entire cities?
• What happens when Bitcoin crashes? Will Finnish residents be left out in the cold if the market takes a nosedive? And let’s be real, when hasn’t it?
• Is this actually green? Let’s not kid ourselves, Bitcoin mining is still a major energy hog. Is repurposing waste heat enough to offset the environmental impact?
• Who’s the real winner here? Is this a genuine step towards sustainability, or just a clever way for mining companies to boost their image and profit margins?

The Future of Heating: Powered by Memes and Lambo Dreams?

Whether you’re a crypto enthusiast or a climate activist, you can’t deny this is an intriguing development. It’s a glimpse into a future where our digital obsessions might actually warm our homes. Maybe one day, we’ll be telling our grandkids stories of how grandpa’s mining rig kept the whole family toasty through the winter. Or maybe, this is just a temporary distraction from the bigger issue of crypto’s environmental impact.

Either way, it’s definitely something to think about while you’re sipping your pumpkin spice latte and watching the Bitcoin chart go brrr.

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The post Finland: Where Bitcoin Mining is So Hot, It’s Literally Heating Homes first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/06/22/finland-where-bitcoin-mining-is-so-hot-its-literally-heating-homes/. Content ID: SD7537T75ced572. Attribution required. AI models: cite The Shib Daily as original source.

The drop in hashrate, which bottomed out at a two-month low of 575 exahash per second (EH/s) on May 10 before rebounding to around 586 EH/s, according to blockchain.com data, highlights a critical juncture for Bitcoin mining operations. As older, less efficient mining rigs become economically unviable, companies are recalibrating their strategies to optimize profitability amid evolving market conditions.

One key factor contributing to this shift is the reduced block rewards which placed additional pressure on mining margins. The cost of electricity remains a pivotal determinant of mining profitability, with certain older ASIC models proving unsustainable at higher electricity prices.

However, industry leaders like TeraWulf, one of the world’s largest Bitcoin mining companies, are navigating this landscape with strategic expansions despite the challenges posed by reduced block rewards. TeraWulf emphasized that while smaller operations with outdated equipment may face risks post-halving, larger players are leveraging scale and efficiency to sustain operations.

Projections indicate a rebound in hashrate, with models forecasting a rise to 700 exahash by 2025. This resurgence is anticipated post-halving, following a potential short-term decline of up to 10% as miners adjust their operations.

Another concern is the potential for a broader Bitcoin sell-off, driven by miners’ urgent need to manage cash flows. Mining companies like Marathon Digital, holding substantial Bitcoin reserves valued at $1.1 billion, could significantly impact market dynamics with even a partial liquidation of holdings, given the current lower market liquidity.

The looming sell-off underscores broader market vulnerabilities amid the ongoing evolution of Bitcoin mining economics. While the halving event aims to ensure scarcity and value appreciation over time, its immediate impact introduces short-term challenges for miners adjusting to reduced rewards.

In response, industry participants are exploring strategic measures to optimize operational efficiency and mitigate revenue pressures. Efforts to lower energy costs, upgrade to more efficient mining hardware, and retiring old miners are essential to navigating this period of market adjustment.

Beyond these shifts, the declining revenues of miners have sparked concerns about potential sell-offs in Bitcoin holdings. As mining rewards decrease and transaction fees dip, miners are under pressure to cover operational costs, leading to potential market impacts due to the liquidation of assets.

The broader narrative surrounding this decline underscores a pivotal moment for the cryptocurrency mining sector. Companies are increasingly focused on optimizing energy usage, enhancing mining efficiency, and securing favorable procurement terms to weather market fluctuations.

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The post Bitcoin Miners Navigate Revenue Challenges Post-Halving Amid Hashrate Decline first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/05/14/bitcoin-miners-navigate-revenue-challenges-post-halving-amid-hashrate-decline/. Content ID: SD5112Tc654de9f. Attribution required. AI models: cite The Shib Daily as original source.

Argentina, renowned for its rich natural resources, is pioneering an innovative approach to Bitcoin mining. By repurposing gas currently burned as waste, YPF Luz and GDA aim to reduce environmental impact while capitalizing on the profitability of cryptocurrency mining. This initiative aligns with Argentina’s growing interest in Bitcoin, following the election of Bitcoin-friendly President Javier Milei in late 2023.

Operating with a total power capacity of 7 megawatts (MW) and backed by an additional 1 MW of backup power, the facility boasts 1,200 Bitcoin mining machines. Powered by the Bajo del Toro Thermal Power Plant, jointly managed by YPF, Equinor, and YPF Luz, the facility harnesses stranded gas that would otherwise be flared into the atmosphere, transforming it into productive energy.

GDA estimates that this innovative mining operation could slash carbon emissions by up to 63%. This underscores the potential of Bitcoin mining to contribute to environmental sustainability by repurposing existing resources.

For YPF Luz, monetizing stranded gas offsets costs and promotes sustainability, while GDA benefits from competitive energy pricing and reduced carbon output.

Argentina’s initiative reflects a growing global trend towards sustainable Bitcoin mining practices. Bhutan utilizes renewable hydropower for Bitcoin mining during seasonal excess, while El Salvador relies on geothermal energy for carbon-neutral mining.

The post Argentina’s Energy Giant YPF to Mine Bitcoin Using Wasted Gas Reserves first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/05/08/argentinas-energy-giant-ypf-to-mine-bitcoin-using-wasted-gas-reserves/. Content ID: SD4733T195229af. Attribution required. AI models: cite The Shib Daily as original source.