Crypto Mining

New York Senate Bill 6486 which would have banned miners from operating for 3 years was not approved by the state assembly today.

The purpose of the bill was to limit the environmental impact of Bitcoin.

However, professionals have looked into the environmental impact of mining, especially from fossil fuels.

The state assembly needs to approve any bill or suggest amendments before it can be signed into law by Governor Andrew Cuomo.

El Salvador’s President, Nayib Rukele, shared in his recent tweets that engineers in El Salvador have dug a geothermal well that will be used to mine Bitcoin following the instruction to local geothermal electricity company of LaGeo to create one.

The well will generate about 95 Mega Watts of cheap and clean renewable energy that can power a Bitcoin mining facility built around it. In his tweet, he said they are starting to design a full Bitcoin mining hub around it.

The Norton 360 antivirus shared in a recent announcement that it plans to enable its users to mine Ethereum safely by leveraging their graphics cards on their computers with a new feature called “Norton Crypto.”

Early users of this feature will be invited to test it out from June 3rd. Norton shared that the feature will not expose the computers to risks CEO Vincent Pilette acknowledged that crypto is becoming part of daily living.

Daymak, Canadian light electric vehicle manufacturer and Tesla competitor announced that it’s its yet-to-be-launched futuristic car, Spiritus, will be able to mine Bitcoin and Dogecoin while it’s parked.

The Tesla competitor is willing to Receive payments in different cryptocurrencies which includes Cardano. $350 million has been raised so far for the car from a crowdfunding program which started in May.

Bitcoin miners in Argentina are leveraging on cheap, subsidized energy which only takes up 2-3% of their salary.

This availability of cheap electricity made Australia a preferred option for Crypto miners and has also increased the rate of Bitcoin mining in the country.

Nicolás Bourbon, a crypto-miner in Argentina, shared that miners know that the cost of mining is very cheap so they take advantage of it to avoid the effects of inflation.

Author: Mcrypto

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