Ukraine energy ministry website hit by ransomware attack

Reports claim a message was posted in English, demanding a ransom of 0.1 bitcoin, worth around £665.58 by today’s exchange rate

Iceland’s bitcoin mines ‘could pinch all the power’

  Iceland could use more electricity on bitcoin mining than on supplying the entire country’s homes in 2018. The Associated Press has reported Johann Snorri Sigurbergsson, Director of Business Development at energy firm HS Orka, said if all the mining firms wanting to get involved actually manage to do so, there won’t be enough energy […]

Chinese bitcoin miners eye Canada’s cheap power

Chinese bitcoin mining firms are considering moving to Canada in the face of potential crackdowns and rising energy costs. China has grown into one of the world’s biggest sources of cryptocurrency mining but there are signs it is increasing scrutiny of the sector’s players and may ask local authorities to regulate their power use. Mining […]

Bitcoin energy consumption ‘could exceed US by 2019’

  As Bitcoin soars in popularity, it uses increasingly large amounts of power – its consumption has soared by 30% in the last month alone. If usage continues to grow at this rate, the network could surpass the power consumption of the USA by mid-2019 and the whole world by early 2020. That’s the suggestion […]

Electricity used for Bitcoin mining ‘could power 6.4m UK homes’

The amount of electricity used by the Bitcoin mining industry is enough to power around 6.4 million homes in the UK. That’s according to new research, which suggests the sector currently accounts for 0.13% of global power usage every year – consuming 28.8TWh annually. Mining for Bitcoin works like a lottery – every 10 minutes […]