Mining

In the past 7 days, the entire digital currency market managed to dip from $1.662 trillion to $1.603T, indicating a sharp fall of about 4.06%. The 7d prices of all the top 5 out of 50 tokens in the world are trading in the red. Nevertheless, the largest coin by market cap managed to surge by about 8% in one week.

The cryptocurrency industry in Ukraine seems to be heading south after the National Bank of Ukraine (NBU) came out to warn the citizens about the risks associated with this nascent digital asset.

China seems to have started a real war against the cryptocurrency community. Shortly after banning crypto mining and trading, the government forces one of the country’s biggest social media platforms to ban fintech bloggers.

Environmental lobbyists have for a long time been advocating for nature conservation. Their advocacy efforts now reached one of the most controversial industries, the crypto mining industry, which many criticize for consuming too much energy.

The legality of cryptocurrencies varies from territory to territory. The UK especially leans towards crypto mining and trading as well as blockchain development but will get under the skin of illegal miners.

The condition of cryptocurrency miners in Iran is continuing to worsen as the government imposes a ban on the mining activity citing high energy consumption of the operation that have been causing power outages in the country. The poor Iranians who have been depending on crypto-mining will suffer more due to the government decision to prohibit mining during hot summer months.

The Inner Mongolia government has launched a platform that will be used by the general public to report any activity or operation related to cryptocurrency mining within the Mongolic autonomous region of the People's Republic of China.

Elon Musk's recent tweet that Tesla would stop accepting bitcoin for the purchase of their electric cars is a bit contrary to the truth about bitcoin mining today and in the near future.

Bitcoin is regarded as the leading cryptocurrency and is seen by many as the most profitable. Many companies have begun accumulating bitcoin, with Tesla recently purchasing vast amounts of bitcoins.