Global #Crypto mining

Crypto miners are being forced to restructure their data centers in order to fulfill the demands of the artificial intelligence (AI) industry due to the spike in GPU demand.

Bitdeer, a cryptocurrency mining firm headed by Jihan Wu, is securing fresh funding from Tether, the entity behind the prominent stablecoin USDT. Tether has committed to investing up to $150 million in Bitdeer through a private placement deal.

The Abu Dhabi Agriculture and Food Safety Authority, the leading authority on agriculture in Abu Dhabi, United Arab Emirates (UAE), issued a directive to farmers, prohibiting the practice of cryptocurrency mining on farms.

According to a report from BitRiver, Russia's largest crypto mining entity, the Russian crypto mining sector is anticipated to see growth ranging between 20% and 40% in 2024. This information was shared by industry insiders and reported by Overclockers.

On May 13, President Joe Biden issued a directive preventing MineOne, predominantly owned by Chinese nationals, from acquiring real estate near the Francis E. Warren Air Force Base for crypto mining purposes, citing national security concerns.

Hut 8, one of the United States' leading crypto mining firms, announced a significant decrease in its proprietary production for April, as per a company statement released on May 6.