Hydro(HYDRO)

Conifex, a B.C.-based cryptocurrency mining company, challenged B.C. Hydro's 18-month moratorium on mining.

The project aims to help Paraguay monetize its excess energy without the need for expensive transmission lines and additional infrastructure.

The drought that the country experienced in the first half of 2023 resulted in higher electricity demand and lower power generation capabilities from hydropower plants.

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The mine might cease operations during the winter when the hydroelectric station does not produce enough energy.

Kyrgyz President Sadyr Japarov promised to distribute money from crypto mining at the hydropower plant to “ordinary people.”

The company will be able to add up to 150 megawatts of energy capacity through the two agreements.

Bitcoin mining is becoming more sustainable thanks to things like hydro-cooling farms and associated petroleum gas — undermining environmental criticism.

In the coming years, the tone of the cryptocurrency market will be set by environmental projects, which will be increasingly used for mining around the world. New technologies and developments will be implemented in different parts of the world. And maybe even in outer space - such ideas and proposals already exist and are being discussed within the professional community. Interesting discussions took place at the Bitcoin Miami conference in the USA at the end of May. Bitcoin mining was one of the key topics in the latest report by Messari, a leader in cryptocurrency market research and analysis. The authors believe that the green agenda will increasingly dominate in this field, and it will be the driving force of the industry in the years to come.On the one hand, environmental friendliness will grow into an actual trend, and crypto enthusiasts will adhere to ESG (Environmental, Social, Governance) Investing approach - environmental, social, governance aspects of investing. On the other hand, this trend will be supported by economic considerations, and the high cost of energy. As for this point, Messari analytics highlights a very indicative example for Bitcoin mining cost: in 2021, the mining of 1 bitcoin cost American miners in Texas about $5-10 thousand, and the coin itself was trading at around $50-60 thousand; its value went down in 2022, and the best price was estimated at $20 thousand with $15-20 thousand of mining cost. Serhiy Tron, Owner of White Rock Management, speaking at the Bitcoin 2023 conference As the coins value decreased, miners actively went looking for ways to reduce their energy costs. First of all, by making mining more environmentally friendly. The interest in hydroelectric power and electricity generation by flaring gas, byproduct of oil production, has grown tremendously. The latter technology not only provides cheaper energy for cryptocurrency mining, but also significantly reduces carbon dioxide emissions into the atmosphere. Reduction of the negative impact of mining on the environment. "Being environmentally friendly is not just a fashion trend, but an economically profitable direction for mining. In some regions, the share of renewable energy in this field amounts to 40%, and even exceeds 70% in other regions. I think that interest will keep on growing, and global oil and gas corporations will cooperate more actively with the cryptocurrency industry. For example, our company has various projects in the U.S. underway: gas flaring in Texas and hydropower near Niagara Falls in the state of New York," said the founder of one of the world's largest mining companies, White Rock Management, Serhiy Tron. White Rock Management, along with 250 other companies, has joined the Crypto Climate Accord for environmentally friendly and safe cryptocurrency mining. With operating offices in Canada, Sweden, Kazakhstan and the United States, the company implements a number of green projects and has plans to develop data centers in Switzerland and the U.S.Tron believes that coal, oil and gas constituents will gradually be outed from the energy consumed by miners. A similar opinion has been voiced by Coin Metrics co-founder Nick Carter, who has high hopes about the use of energy from flare gas in bitcoin mining; he believes this type of fuel can completely cover the needs of all miners worldwide inside the next 10 years. Crypto analysts' predictions regarding the development of alternative sources are backed by energy experts.A new report from a global energy think tank Ember emphasizes that the global energy system will very shortly enter a “new era of reduction of fossil fuel production”. Gas and coal generation volumes are expected to decrease, with alternative sources in extensive use.Ember's findings note that at the end of 2022, the expansion of wind and solar power accounted for 80% of the growth in electricity demand, and when combined with hydropower and bioenergy, 92% of the growth. By the end of 2023, low-carbon sources are expected to provide 100% of the growth in energy demand. Analysts provide an interesting example: the solar power plants launched worldwide last year would be powerful enough to supply an entire country like South Africa for a year, and wind power plants would provide almost the entire 12-month supply for the United Kingdom. "The price/quality principle will be always at work. Miners will do everything to reduce their costs, and increase their income from cryptocurrency mining, while preventing methane emissions and being environmentally conscious along the way. This, in my opinion, is worth the support of local authorities in different regions. For example, by tax incentives or other means," says financial analyst Vladyslav Kravets. Particular interest in "green" mining is growing in the U.S. Local Marathon Digital Holdings launched the King Mountain data center in Texas, with a capacity of 280 MW, carbon-neutral by 70%. In addition, this spring the company announced a joint project with Zero Two, designed to construct two new 200 MW and 50 MW zero-carbon sites in the UAE (Abu Dhabi). Also, BIT Mining Limited reported building a 57.2 MW facility in the same state, running by 85% on clean energy. This does not come as a surprise, since the Americans have been growing generally more interested in cryptocurrency as of late. The bigger it is, the greater the interest of local miners in more environmentally friendly and cheaper crypto mining. The analytics service Ahrefs recently estimated that the word "Bitcoin" has been looked up 1.9 million times in Google search in the U.S. over the past 12 months. It topped the search ranking, coming before the scandalous former president Donald Trump, news, Elvis Presley, Disney and Spider-Man. "For years, Texas was considered the home of the American shale gas and oil revolution, but it has now become the go-to place for cryptocurrency miners. Miners have realized that energy from flare gas can be used profitably to mine crypto. Our company is using it already. Also, this way we significantly reduce CO2 emissions. Around 400 million tons of carbon dioxide make their way to the atmosphere annually, but the crypto community can reduce this figure significantly," assures Serhiy Tron. There is no doubt that the miners’ interest in green energy will grow as the interest in cryptocurrencies as such multiplies. This process is gradually spreading around the world, although not always in transparent ways.For example, in May, during the bankruptcy of BlockFi and Celsius, it was revealed that Druk Holding & Investments (DHI), a state-owned investment bank in the Asian Kingdom of Bhutan, was secretly (without public knowledge) mining bitcoin. This country employs hydropower, with natural availability of high-altitude mountains with fresh air that allow cooling down the equipment. Mining is carbon-neutral and, as DHI assures, self-sustaining.The interest in cryptocurrencies is increased in the Seychelles, and local Finance Minister Naadir Hassan stated in April that his government is working out the requirements for the registration and licensing of specialized companies. Also, state authorities in Europe's Liechtenstein have recently declared they’re going to allow their citizens to use bitcoin to pay for public services. Although the head of the government, Daniel Risch, did not specify when such a possibility was to come in effect, but was adamant that it eventually would. Regardless of what goes on in the crypto market and no matter what skeptics say about this industry, the interest for it does not decrease. Even after significant price swings of several coins and frightening statements about the crypto-winter. Steady focus of the investors and hi-tech companies is backed not only by the projects that’s been already greenlit, but with new developments, ideas and discussions that do not stop. At the end of May, for instance, active debates on the future development of the market and its prospects took place in the United States, at the Bitcoin Miami conference. “Rather interesting and large-scale event, which was helpful not for professional players alone, but for the curious newcomers as well. Highly-esteemed and acknowledged experts were represented at the event: Christopher Grilhault des Fontaines from Dfns, Joseph Ziolkowski from Relm Insurance, Domenic Carosa from Banxa and many others. Not only current problems were discussed, but some new developments, including those in the space industry, were spoken of openly, too. Quite gripping and productive. Once again, we were able to make sure that Bitcoin remains a powerful asset, and amid the challenging situation in the global economy and growing rates of inflation everywhere, attention and trust to Bitcoin is on the steady rise”, summed up Serhiy Tron. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

USDT stablecoin issuer Tether has announced its foray into Bitcoin mining and plans to set up Bitcoin mining operations in Uruguay using renewable energy. The announcement comes on the heels of the stablecoin issuer stating that it would begin to purchase Bitcoin at regular intervals using its profits. Tether’s Foray Into Mining The company announced that it would soon begin mining operations in the country and has entered into a partnership with a local licensed company. However, Tether has not shared the name or any other details regarding the local entity. The news about the company’s entry into the mining space comes soon after it announced that it would invest around 15% of its profits into purchasing Bitcoin in an effort to strengthen its reserves, similar to strategies adopted by Tesla and MicroStrategy. The announcement also indicates that Tether is bullish about the prospects of the world’s largest cryptocurrency. CTO of Tether Paolo Ardonio stated in the announcement, “By harnessing the power of Bitcoin and Uruguay’s renewable energy capabilities, Tether is leading the way in sustainable and responsible Bitcoin mining. Our unwavering commitment to renewable energy ensures that every Bitcoin we mine leaves a minimal ecological footprint while upholding the security and integrity of the Bitcoin network.” Tether also added that it is on the lookout for experts to help the company expand its footprint in the renewable energy space. Bitcoin mining is extremely energy intensive and relies on a distributed global network of computers to verify transactions and release new Bitcoin tokens into circulation. Is Uruguay The Ideal Location? Tether also shared its reasoning behind choosing Uruguay to set up its Bitcoin mining operations. In its announcement, Tether stated that the South American country had emerged as a major global leader in renewable energy. In fact, the country has generated 94% of its electricity from renewable sources such as solar power and wind energy. Tether stated in its announcement, “Blessed with abundant natural resources, Uruguay offers ideal conditions for the production of renewable energy, facilitating the establishment of wind farms, solar parks, and hydropower projects, guaranteeing a consistent supply of clean and environmentally friendly energy.” Tether is also looking to hire people in various roles in its new Bitcoin mining and energy venture and plans to expand its Bitcoin mining operations to several other countries. Tether’s Controversial Past Tether is the entity that issues the USDT, which is the largest stablecoin in the crypto market, with a circulating supply of 83,184,323,408 USDT. It competes with other major stablecoins in the market, such as Binance’s BUSD and Circle’s USDC stablecoins. According to Tether, each of its USDT stablecoins is backed in a 1:1 ratio by US-denominated assets held in reserve. However, the company has gotten into trouble with regulators, with several questions raised about the integrity of the assets backing the stablecoin. Previously, Tether held all its reserve assets in the form of reserve paper, which is a less liquid form of corporate debt. However, the company has since replaced all the commercial paper held by it with US Treasuries. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bhutan's mountainous terrain, coupled with abundant hydroelectric power reserves, position it ideally for cryptocurrency mining as the country proposes a new $500 million fund targeted toward crypto mining. Bhutan appears to have an interest in investments related to Bitcoin and other digital currencies, perhaps as a hedge against inflation and economic uncertainties. Although Bhutan already has existing crypto mining activities on home soil -through its new crypto mining initiative- the Bhutan government plans on boosting them considerably by inviting foreign participation as well by providing several incentives such as tax exemptions; reduction in electricity rates; and simplified regulations designed specifically for the crypto mining. Ujjwal Deep Dahal, CEO of Druk Holding and Investments, the Bhutan government’s investment arm, said of Bhutan’s latest mining venture: “It’s important for us to look at assets that are low volume, high value, or digital assets for that matter, and try to position ourselves in a way that we can be competitive globally over time to build our economy.” Despite being situated ideally for crypto mining activities due to its environment and infrastructure there are concerns toward the environmental impact of such operations given that many people see it as a potential threat to the environment. However in Bhutan’s case the government has expressly stated it will guarantee that all cryptocurrency mining activities take place in an environmentally responsible manner that is consistent with its objective for sustainable development. While Bhutan is expending time, money, and resources on its crypto strategy, it is also hedging its bets in the traditional financial system by exploring opportunities to create a central bank digital currency (CBDC). Such initiatives highlight cryptocurrencies' growing attractiveness among developing countries as a vehicle for driving economic prosperity. However, it must be recognised that implementing conscientious mining practices alongside promoting sustainable development will be a determining factor for Bhutan’s mining project to succeed, while at the same time helping communities within Bhutan thrive. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The crypto kingdom of Bhutan uses Himalayan rivers to generate energy used to mine Bitcoin, local reports reveal.

Five people have been charged in relation to alleged market manipulation of an Ethereum-based token called “Hydro.”

This lawsuit was filed due to allegations of price manipulation schemes, which were proven to be substantial.

Hydrogen Technology Corp. and its former CEO will pay $2.8 million in fines and remedies for allegedly operating a price manipulation scheme.

Bitcoin has become big business in 2017 – and Sweden has taken its place at the forefront of the technological revolution. The entire country is something of a hotbed for cryptocurrency innovation at the moment, with data centres being set up for mining in the north and payment solution company Plingpay establishing itself as a 'bitcoin blockchain bridge' in Malmö in the south. “We’re seeing a lot of interest from foreign companies interested in setting up cryptocurrency operations in Sweden”, says Tomas Sokolnicki, Head of Data Centers by Sweden, a company which strives to attract foreign investors to bring their business to Sweden. So, why all the activity in this Scandinavian country? One reason is due to the natural conditions found in Sweden. As Bitcoin mining requires lots of processing power which, in turn generates heat, data centres tend to be located in cooler climes. Hydroelectric power generation also invokes less of a cost in Sweden, hence the eagerness for miners to set up in the country. "Blockchain is like any software program, it needs to run on computers somewhere," says Anne Graf, who runs a colocation centre in Boden, in the north of Sweden. "The Hydro66 data center has access to huge amounts of green electrical power at a great price, which makes it attractive for blockchain as it tends to require a lot of power." Another reason is the Swedish government's attitude towards cryptocurrencies. While many other western governments have been reluctant to embrace Bitcoin, or even hostile towards it, lawmakers in Sweden have actively embraced new technologies – there's even talk of the country's central bank introducing an 'e-krona' in the next few years. While this would be a complement to cash, the usage of which is declining in Sweden, it could use the same blockchain technology Bitcoin relies on.

Bitcoin has become big business in 2017 – and Sweden has taken its place at the forefront of the technological revolution. The entire country is something of a hotbed for cryptocurrency innovation at the moment, with data centres being set up for mining in the north and payment solution company Plingpay establishing itself as a 'bitcoin blockchain bridge' in Malmö in the south. “We’re seeing a lot of interest from foreign companies interested in setting up cryptocurrency operations in Sweden”, says Tomas Sokolnicki, Head of Data Centers by Sweden, a company which strives to attract foreign investors to bring their business to Sweden. So, why all the activity in this Scandinavian country? One reason is due to the natural conditions found in Sweden. As Bitcoin mining requires lots of processing power which, in turn generates heat, data centres tend to be located in cooler climes. Hydroelectric power generation also invokes less of a cost in Sweden, hence the eagerness for miners to set up in the country. "Blockchain is like any software program, it needs to run on computers somewhere," says Anne Graf, who runs a colocation centre in Boden, in the north of Sweden. "The Hydro66 data center has access to huge amounts of green electrical power at a great price, which makes it attractive for blockchain as it tends to require a lot of power." Another reason is the Swedish government's attitude towards cryptocurrencies. While many other western governments have been reluctant to embrace Bitcoin, or even hostile towards it, lawmakers in Sweden have actively embraced new technologies – there's even talk of the country's central bank introducing an 'e-krona' in the next few years. While this would be a complement to cash, the usage of which is declining in Sweden, it could use the same blockchain technology Bitcoin relies on.

When people first started mining for cryptocurrencies, they could do it all from their standard home computer. As time has progressed and the industry has moved on, however, this landscape has changed. While you can still use a fairly normal home computer for mining things like Bitcoin, the boom in the industry has led to mega-powerful mining farms being set up. These mining farms contain many ultra-powerful computers that mine for cryptocurrency and make individual home mining far harder in comparison. One big problem that these huge mining farms have, however, is the amount of electricity they use. How can hydro mining help? Hydro mining uses water to generate the power to run all the computers in a mining farm, along with water cooling powered systems for safety when in use. This type of mining is an environmentally and sustainable form of mining compared to using traditional fossil fuels to generate electricity. As an example, one Ethereum transaction burns 53KwH in terms of electricity used. When you think your average dishwasher uses 288KwH in a whole year, you can see why the cryptocurrency industry is looking for cleaner, greener ways to run all of its mining hardware. Hydro mining could be the future Not only does hydro mining hit the mark in terms of being a renewable energy source, but it also offers a great value solution to mining farms in terms of cost. Hydro mining actually uses less energy to do the same job as traditional fossil fuels, which means higher profits for the relevant investors. Another real bonus of this sort of mining is that it allows for companies to use water cooling systems to keep their hardware at the correct temperature. This leads to fewer burnouts from overheated equipment and less downtime as a result. By adopting hydro mining as a way to power their operations, mining farms and businesses will not only be helping the environment but also working in a smarter, more efficient way.

When people first started mining for cryptocurrencies, they could do it all from their standard home computer. As time has progressed and the industry has moved on, however, this landscape has changed. While you can still use a fairly normal home computer for mining things like Bitcoin, the boom in the industry has led to mega-powerful mining farms being set up. These mining farms contain many ultra-powerful computers that mine for cryptocurrency and make individual home mining far harder in comparison. One big problem that these huge mining farms have, however, is the amount of electricity they use. How can hydro mining help? Hydro mining uses water to generate the power to run all the computers in a mining farm, along with water cooling powered systems for safety when in use. This type of mining is an environmentally and sustainable form of mining compared to using traditional fossil fuels to generate electricity. As an example, one Ethereum transaction burns 53KwH in terms of electricity used. When you think your average dishwasher uses 288KwH in a whole year, you can see why the cryptocurrency industry is looking for cleaner, greener ways to run all of its mining hardware. Hydro mining could be the future Not only does hydro mining hit the mark in terms of being a renewable energy source, but it also offers a great value solution to mining farms in terms of cost. Hydro mining actually uses less energy to do the same job as traditional fossil fuels, which means higher profits for the relevant investors. Another real bonus of this sort of mining is that it allows for companies to use water cooling systems to keep their hardware at the correct temperature. This leads to fewer burnouts from overheated equipment and less downtime as a result. By adopting hydro mining as a way to power their operations, mining farms and businesses will not only be helping the environment but also working in a smarter, more efficient way.