Crypto News | New Crypto Mining Operations in U.S. & Russia

Crypto mining is still a hot topic in cryptocurrency circles, especially now that rumors have arisen that Bitmain may finally see some competition. Over the past couple of months, we’ve been reading a lot about unregistered crypto mining operations getting shut down in the U.S., one of them in the state of New York, while two got in trouble with the law in the state of Washington. In spite of all that, it seems like crypto miners in the Evergreen State may finally catch a break. Walla Walla, a small rural community in Washington, agreed to lease 10 acres of land to Ant Creek LLC, a Bitmain subsidiary. The state commissioners voted unanimously to approve the lease, although they were reluctant to allow Bitmain to use 30 extra acres. Although it will initially be only one of small-scale crypto mining operations, the officials believe that the unassuming project is only the first step – to test the waters and let the locals get accustomed to the idea and the benefits of having such a facility near their community.

Unlike in Washington, the officials in Krasnoyarsk Krai in Siberia pulled out all the stops when presented with ambitious plans for one of the biggest crypto mining farms in Russia. Run by the mining company BitBaza, the farm will take advantage of the region’s low energy costs, even if the initial investment in infrastructure is rather steep, at approx. $48 million. The unique thing about this mining farm, which will consume 120 MW, is that the heat generated by the ASICs will not be wasted. Instead, it will be used for heating residential areas after converting it to thermal power.

In other news, the second largest stock exchange in Germany is working on releasing its very own crypto trading app. The app will be called Bison. It is being developed by Sowa Labs, which is a subsidiary of Börse Stuttgart, the aforementioned stock exchange. Initially, the users will only be able to trade the 4 most popular cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Ripple. Bison will be the first cryptocurrency trading app backed by a traditional stock exchange.

Let’s hope they do better than Coinsecure, the Indian exchange which proved to be … not so secure, after all. Its wallets were hacked, and approximately 430 Bitcoin were misappropriated, amounting to $3.5 million+. All in all, it could have been worse (ask Coincheck), and they already seem to have an inkling on who could have done it.

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Author: Max Rothstein

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