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US sanctions ‘world’s largest diamond mining firm’

The United States has imposed another layer of sanctions on Moscow, this time targeting state-owned enterprises, including one of the world’s largest mining companies and Russia’s top shipbuilding firm.  The Treasury and State Departments unveiled the new penalties on Thursday, saying they would hit Russia’s Alrosa mining company and the …

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Jack Dorsey reveals bitcoin mining plan

Block founder and CEO Jack Dorsey said on Thursday that his fintech firm is building an open bitcoin mining system, as it looks to expand beyond its payment business and into new technologies like blockchain. “We’re officially building an open bitcoin mining system,” he tweeted. In a tweet thread, Block’s …

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Country turns to nuclear as crypto mining causes electricity shortage

Authorities in Kazakhstan are considering building a nuclear power plant following the rapid growth of cryptocurrency mining, which has seen the Central Asian country suffer from serious electricity shortages. Speaking on Tuesday, Minister of Energy Magzum Myrzagaliev revealed that the government is currently considering two locations for a thermal power …

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El Salvador is set to use wide range of renewable energy for crypto-currency mining, country’s Hydroelectric Commission says

“The possibilities are endless here, it’s just about willpower and that we have the means and the ability to start these projects,” Daniel Alvarez, president of the state-run Lempa River Hydroelectric Executive Commission (CEL) revealed on Friday, stating that El Salvador has resources to generate electricity for the mining process …

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The yield of Arctic mining small

The profitability of the projects of oil and gas in the Russian Arctic under present prices for hydrocarbons are not as high as necessary. This was stated by Russian energy Minister Alexander Novak during the Russian Youth day energy week. “The margins on projects in the Arctic to date is …

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