Tag: mining

New investment project “RUSSIAN mining sites”

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RUSSIAN mining sites

New investment project “RUSSIAN mining sites” Russia is the third-biggest miner, after U.S. and Kazakhstan. Russia, or the Russian Federation is a country spabnning Eastern Europe and Northern Asia. It is the largest country in the world, covering over 17,125,191 square kilometres (6,612,073 sq mi), and encompassing one-eighth of Earth’s inhabitable landmass. Russia extends across eleven time zones, and has the most borders of any country in the world, with sixteen sovereign nations. It has a population of 146.2 million; and is the most populous country in Europe, and the…

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Bitcoin Mining Consuming More Electricity Than 159 Countries

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Bitcoin Mining Consuming Electricity

Bitcoin Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa Bitcoin’s ongoing meteoric price rise has received the bulk of recent press attention with a lot of discussion around whether or not it’s a bubble waiting to burst. However, most the coverage has missed out one of the more interesting and unintended consequences of this price increase. That is the surge in global electricity consumption used to “mine” more Bitcoins. According to Digiconomist’s Bitcoin Energy Consumption Index, as of Monday November 20th, 2017 Bitcoin’s…

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Cryptocoin Mining

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crypto mining

What is mining? Mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions (and a “mining rig” is a colloquial metaphor for a single computer system that performs the necessary computations for “mining”). This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have…

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