Energy

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.

Elon Musk posted a tweet on the high energy consumption of Bitcoin (BTC), which caused a serious downtrend for most major cryptocurrencies including Ethereum (ETH), Binance Coin (BNB), XRP (XRP), Internet Computer (ICP), Polkadot (DOT) and Bitcoin Cash (BCH).

The Chinese crypto community seems to flourish, as judged by the number of billionaires that are the country’s natives. Indeed, half of the top 10 richest crypto owners originate from the Communist Republic.

Following the recent blackouts in major cities, Iran has started hunting for illegal businesses that are using the government's electricity to mine bitcoin (BTC) and other cryptocurrencies. What does this mean for the Blockchain and cryptocurrency industry?

A huge amount of profits are being generated for countries through this cryptocurrency mining. For this reason, governments are channelling their surplus resources to boost the mining business and the entire cryptoasset sector.

The United States mining pools are building their capacity to defeat China's hegemony in cryptocurrency mining.

Eastern European countries are topping the list in cryptoasset adoption speed. Particularly, Ukraine and Russia have topped others because they have unduly intensive cryptocurrency usage. This shows that a bigger ration of nationals has moved away from traditional monetary activity to cryptoassets.

The oil & gas firms leveraging blockchain are in a position to increase trade accuracy, improve scheduling and back-office efficiency, improve operational efficiency, increase access to trade info, and lessen the working capital cycle.