Global #Crypto mining

In response to severe electricity shortages, authorities in Dagestan, a republic in Russia, are ramping up efforts to shut down illegal underground crypto mining farms. Local officials blame these operations for significant power theft and frequent outages that have affected residents.

Russia is intensifying its crypto mining ambitions with a major new project in the Komi Republic. The northeastern region of the country has announced plans to build 15 new crypto mining data centers, signaling a robust commitment to expanding its digital asset infrastructure.

On August 22, Bitcoin transaction fees experienced an unprecedented surge, skyrocketing by an astonishing 937.7% from $0.74 to $7.679.

Bitcoin miners are showcasing renewed confidence in the cryptocurrency market despite recent challenges. Marathon Digital, a leading Bitcoin mining firm, has significantly increased its Bitcoin reserves, and the network's hashrate has soared to an all-time high.

In a surprising policy shift, the Russian government is reportedly set to reverse its stance on banning cryptocurrency exchanges. Lawmaker Anton Gorelkin, Deputy Chairman of the State Duma’s Committee on Information Policy, has revealed that Russia will no longer attempt to halt the “circulation” of cryptocurrencies within the country.

Portugal's reputation as a crypto-friendly nation is well-deserved. With a light touch on regulations and tax benefits, the country is attracting a growing number of crypto businesses and investors.