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The US Government is under backlash after allegedly targeting the crypto mining industry again. A recent report revealed the government’s plan to resurrect a tax proposal that could significantly affect the whole sector.
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On-chain data shows the Bitcoin miners have just witnessed their second highest revenue day in the entire history of the cryptocurrency.
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Bitcoin miner Argo Blockchain sold one of its sites to repay debt amid its declining BTC production last month.
Argo sells site to repay debt
In a Mar. 5 statement, the miner explained that it sold its Mirabel Facility in Quebec for $6.1 million.
The US Department of Energy (DOE) and Energy Information Administration (EIA) have scrapped their emergency survey of Bitcoin mining’s power usage following a lawsuit from industry groups, Reuters and other news outlets reported.
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Since the crypto mining ban in China in 2021, the US has become one of the largest mining hubs for Bitcoin miners. However, regulatory agencies have tightened their measures to increase their oversight over the industry.
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According to its latest financial report, Riot Platforms, one of the world’s largest Bitcoin mining and data center hosting firms, generated a record high in terms of revenue in 2023.
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On Thursday, February 22, Bitcoin miner Riot Platforms, along with industry groups Texas Blockchain Council (TBC) and the Chamber of Digital Commerce, initiated legal action against key agencies of the Biden-Harris Administration.
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According to a recent report by Fox journalist Eleanor Terret, House Majority Whip Tom Emmer has accused the Biden administration of abusing its power to “unfairly” target Bitcoin (BTC) miners within the cryptocurrency industry.
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Ethiopia has officially announced its foray into Bitcoin mining, aligning itself with a growing list of countries that have integrated cryptocurrency mining into their national economic strategies.
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Dennis Porter, the CEO of a non-profit, Satoshi Action Fund, has notified the crypto community that Bitcoin miners across the United States reportedly face pressure from the Energy Information Administration (EIA) after being sent letters requiring them to surrender sensitive data.
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Bitcoin’s mining landscape is poised for another challenge as mining difficulty is set to rise by nearly 8% today, Feb. 15.
Data from CoinWarz shows that this increase, which is expected to hit a new record high, will surpass 81 trillion at block height 830,592.
In a series of statements on X, Brian Morgenstern, Head of Public Policy at Riot Platforms Inc, the second-largest Bitcoin miner in the United States by market capitalization, has openly criticized the US Energy Information Administration’s (EIA) new mandate to collect data on energy usage by miners
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