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The seized equipment is kept in a special warehouse, but according to some estimates there are around 30,000 more in operation in the country. Some time ago , the region became a major cryptocurrency mining location, thanks to low electricity costs and virtually no taxes, which attracted many miners, but caused ongoing problems with the power grid.
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According to Finance Minister Hekuran Murati, the estimated monthly consumption of mining equipment is as much as the power used by 500 homes, worth between €60,000 and €120,000.
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In a first, Indian police have seized crypto mining equipment due to its involvement in an MLM scheme. Meanwhile, an online petition filed by one of the victims against the operators of the alleged scam a month ago reveals additional details of the MLM scheme.
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Currently, the Bitcoin news show that Antminer S9 are very popular and available at very low prices ranging from $100 to $300. That being said, some estimates show that at the highest price, the hundreds of Bitcoin machines which were seized are worth about $94,500. It is also worth noting that cryptocurrency mining is legal in Venezuela but
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As the price of bitcoin was near $50k since the beginning of September, so Increase in the demand for mining equipment started from the same time period. Also reports confirmed that demand for Bitcoin mining Rigs almost surged by triple, because the increasing price of bitcoin gave hope to the people that they can make profit through mining.
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Mining rigs like these maintain the Bitcoin network. Image: Shutterstock. Police in Kosovo reported the seizure of more than 300 Bitcoin mining devices since the raids against miners began last week. On January 6, police said it confiscated 67 mining devices “suspected to be used for the production of cryptocurrencies”...
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The utility has seized over 212,000 pieces of mining equipment in the last year, claiming losses of 180 trillion rials ($4 million). Bitcoin mining is legal in Iran because the government expects Bitcoin and cryptocurrency mining to grow into a significant economic sector in the country, with revenue forecasts of $1 billion in May.
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Iran Seizes 3,000 Crypto Mining Devices in a Week. Authorities in Iran have confiscated 3,000 units of mining hardware in just one week as part of a push to curb illegal crypto mining amid power
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In a counter affidavit filed before Justices M. Sathyanarayanan and N. Seshasayee, who were seized of a batch of cases related to the issue, the DGFT said BSM comprised a suite of seven minerals
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Getty Images. Pristina: Kosovo police on Saturday seized hundreds of cryptocurrency mining machines and arrested one person in the tense ethnic-Serb majority north as the country suffered an energy crisis. Cryptocurrencies like Bitcoin are created through solving complex equations -- an endeavour that consumes enormous amounts of energy.
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The equipment seized by the authorities consumes the same amount of electricity as 500 houses. Kosovo announced a blanket ban on cryptocurrency mining last week due to a crippling energy crisis that the partially recognized country faced this winter.
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Mining rigs like these maintain the Bitcoin network. Image: Shutterstock. Police in Kosovo reported the seizure of more than 300 Bitcoin mining devices since the raids against miners began last week. On January 6, police said it confiscated 67 mining devices “suspected to be used for the production of cryptocurrencies”...
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