In recent days, cryptocurrency prices are still slowly falling. However, the enthusiasm of cryptocurrency mining investors has not cooled.
Here are two news about Bitcoin Mining
One is
Bladetec, a British IT hardware supplier, has recently revealed plans to build a Bitcoin (BTC) farm in the South East of United Kingdom, The Sunday Telegraph reported March 17.
The project dubbed the Third Bladetec Bitcoin Mining Company Ltd (TBBMC) aims to raise £10 mln or roughly $13.9 mln from investors to build and operate the farm over the next two to three years. The developers then plan to sell off the mined coins as well as the mining equipment to provide investment returns, says the funding platform for the project, Envestry.
According to the project, the TBBMC facility will cover 3,500 square feet at three locations in London, Surrey, and Suffolk. Considering the high price of mining one bitcoin in the UK, which reportedly amounts to about $8,400, most of the raised funds would be spent on energy costs, as the company is planning to mine 1,280 bitcoins, writes The Telegraph.
Another one is
Cryptocurrency mining is perfectly legal in Europe and only subject to standard electricity rules, according to an EU commissioner.
In a statement released last week, Mariya Gabriel, European Commissioner for Digital Economy and Society, addressed concerns about the power-intensive nature of cryptocurrency mining, while clarifying the regulatory status of the industry.
Gabriel said:
"If the energy consumed for this activity is produced according to law, there is no legal basis to forbid or even limit it. ... As mining of cryptocurrency is not an illegal activity, the Commission did not put in place any means to track it, so far."
However, as an electricity-consuming economic activity, mining is subject to EU rules regarding "energy efficiency, the power sector and greenhouse gases emissions," she added.
Mining activity, she pointed out, is still currently concentrated in China, despite hints that regulators there may move to clamp down on the industry. "Nevertheless, it cannot be excluded that some part of the mining is done in the EU," Gabriel said.
As reported by the Washington Post recently, Iceland, which generates most of its own electricity through hydroelectric power stations, now has more prospective cryptocurrency mining projects than the island's energy supply could support. Iceland, however, is not a full EU member, but is part of the European Economic Area.
Anyway, we still need some time to continue to observe the potential of cryptocurrency mining.