Consumption

On June 30, South Korean tech giant Samsung announced new semiconductor chips that can potentially be employed for mining cryptocurrencies. According to the announcement, the new 3-nanometer process technology will enable 45% optimization of power usage.

Since January 9th, 2009, when the Genesis Block went live, the global blockchain industry has been developing for 13 years so far.

Nexus Project has launched its decentralized, distributed blockchain system focused on contributing to economic development by increasing accessibility and encouraging consumption.

The government of Kazakhstan is discussing ways to build new power plants to generate additional energy. With this move, the country aims to support the cryptocurrency mining industry.

The growing popularity of mining cryptocurrencies is prompting people to join this burgeoning industry. On the other hand, such users can also easily fall victim to scammers.

The State Committee of Homeland Security of Kyrgyzstan discovered an illegal cryptocurrency mining facility in the home of an official from the energy sector.

On December 7, Icelandic utility Landsvirkjun decided to restrict energy supply to industrial companies such as aluminum plants and cryptocurrency miners. The reason for this move is a massive energy shortage.

The Russian Energy Ministry confirms that mining cryptocurrencies is not part of daily needs. Therefore, there is no way for miners to benefit from residential electricity rates.

The Kazakhstan government is concerned about the growing number of underground cryptocurrency miners after restrictions were imposed in early October.