Blockchain & crypto news from India
During the initial months of 2024, Bitcoin miners in the United States incurred a substantial expense of $2.7 billion solely on electricity. As per Paul Hoffman, an analyst at Best Brokers, the cumulative electric power utilized for Bitcoin mining in the U.S. amounted to 20,822.62 gigawatt hours (GWh) since the commencement of 2024. Energy consumption…
Amidst the turmoil caused by the coronavirus crisis, gold refiners have been working tirelessly to address severe supply shortages resulting from market disruptions. Notably, there has been a noticeable uptick in interest surrounding digital tokens backed by gold. As Q1 of 2020 drew to a close, the gold market experienced an unprecedented “historic squeeze.” This surge in demand for…
Bitcoin mining difficulty has recently undergone another adjustment, hitting a new all-time high of 86.4 trillion, according to data from BTC.com. Bitcoin mining difficulty refers to the level of computational difficulty that is required in order to mine a new block of Bitcoin transactions. This difficulty level is adjusted every two weeks to ensure that…
The Bitcoin halving is an event that occurs every four years, where the reward for mining new Bitcoin blocks is cut in half. This means that miners receive fewer Bitcoin for their efforts, and the total number of Bitcoin that can be mined is limited to 21 million. The halving is a crucial aspect of…
President of El Salvador Nayib Bukele received praises from the crypto world the previous year when he vowed to create a tax-free Bitcoin city on the nation’s coast, complete with geothermal energy for mining digital coins from a volcano in the near vicinity. To finance it, Bukele said a crowd of onlookers, the government would…
Intel is investing in blockchain technology with a latest chip designed to mine cryptos. On Friday the chipmaker said that it will start selling the chip customized to mine Bitcoin and other cryptos later this year. Block, (previously Square) and two mining businesses, Grid Infrastructure and Agro Blockchain, are among the first customers. Mining is…
If you are also a crypto lover, you must know how the market’s ups and downs are affected by one tweet or an interview with Elon Musk. His favourable behaviour for cryptocurrencies always motivates investors to trade more. The prices of different cryptocurrencies are hikes at breakneck speed whenever Musk tweets. He is well known…
According to sources, suggested legislation that would prohibit the use of cryptos as a mode of payment in India also anticipates making those who violate the law subject to arrest without a warrant and being held without bail. The government of PM Narendra Modi has earlier indicated that it proposes to prohibit most cryptos –…
Bitcoin escalated over $39,000 after Elon Musk said that Tesla Inc. may restart transactions with the digital currency when mining is carried out with more clean energy. Tesla’s CEO, Musk said that the e-car manufacturer will allow Bitcoin transactions again upon confirmation of reasonable (~50%) clean energy usage by miners with a positive future trend….
On Wednesday, Tesla Inc.’s CEO Elon Musk announced that the company won’t accept Bitcoin for the car purchase. In addition to jokes and memes galore, the value of Bitcoin plunged as much as 15% to just above $46,000 the moment the tweet was posted. This was done due to environmental concerns. As soon as the…