A Russian Operation Is Mining Bitcoin in the Arctic Circle for Cheap Electricity

A Russian company is leveraging the Siberian city of Norilsk located above the Arctic Circle in order to mine bitcoins. Bitcluster, the owner of the crypto mining operation, plans to expand the firm’s activities after launching the facility in late 2020. According to the company’s website, the datacenter is getting electricity rates as low as $0.03 per kilowatt-hour (kWh). Mining Precious Crypto Assets in the Arctic Circle This week the Russian mining operation Bitcluster was featured in a Bloomberg video-report that highlights the company’s Norilsk bitcoin mine. The city of…

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Mt Gox Creditors Asked to Approve a Settlement Proposal Drafted by Coinlab

On January 15, the public was made aware of a deal between the firm Coinlab Inc., the Mt Gox bankruptcy trustee, Nobuaki Kobayashi, alongside MGIFLP, a subsidiary of Fortress Investment Group. According to the proposal, Mt Gox creditors will be able to claim as much as 90% of the bitcoin held by Kobayashi and the Tokyo court. Despite the recent reports, creditors still have to approve the proposal made by the company. Coinlab Offers Mt Gox Creditors a Proposal Last week, Mt Gox creditors were told there was a new…

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Bahamas-Based Deltec Bank Holds a ‘Large’ Bitcoin Position

Bahamas-based Deltec Bank & Trust said during a recent video review that it’s holding a “large position” in bitcoin. The information was given by their chief investment officer, Hugo Rogers. Deltec Executive Discusses Bitcoin Position According to the video uploaded to the bank’s Youtube channel, Deltec’s large position in bitcoin (BTC) has brought “a lot of attention recently.” Rogers further explained the move: We bought bitcoin for our clients at about $9,300, so that worked very well through 2020. And we expect it to work well in 2021 as the…

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TNABC Miami’s Eighth Annual Conference Goes Virtual, Event Underscores Technology’s Important Role

On January 28-29, 2021, The North American Bitcoin Conference (TNABC) is preparing to kick off its eighth exhibition with another cryptocurrency and blockchain-focused event. The event organizers have lined up more speakers than ever, as this year’s TNABC is going to be 100% virtual due to the ongoing coronavirus pandemic. TNABC’s creators say that this year has truly shown us all “how resilient a global crypto economy can be.” The North American Bitcoin Conference is coming back full throttle this year, as organizers say the team has curated a line-up…

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French Programmer Sent Bitcoin Donations to Far-Right Activists Who Participated in the US Capitol Riots

A crypto forensic analysis reveals that a French donor sent over $500,000 worth of bitcoin (BTC) to far-right activists in the United States. The half-million dollars went to the groups that took part in the pro-Trump riots in the U.S. Capitol. Alt-Right Personalities and Websites Are Included on the List of Recipients According to Chainalysis, the unnamed donor sent 28.15 BTC (worth $522,000 at the transfer time) on Dec. 6, 2020, to 22 separate addresses in a single transaction. Per the report, many of those wallets belong to personalities tied…

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Venezuelan President Maduro Promises 2021 Will Be the Year to Boost Usage of Petro

The Venezuelan president, Nicolás Maduro, has claimed that 2021 will be the year of the state-backed petro (PTR) token. He also promised to boost a “100% national digital economy” agenda through a “complete digitalization process.” 77% of Trade Transactions in Venezuela Are Made via Digital Solutions in Bolivar During an annual speech at the National Assembly, Maduro talked about a “revival” for the petro, a cryptocurrency that some analysts have not seen any strong potentials in, at least in terms of adoption. However, the Venezuelan president believes his economy’s agenda…

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$100 Swaps: Ethereum Dex Volumes Saw $39 Billion Last Month Despite ‘Insane’ Trading Fees

During the last 12 months, Ethereum-based decentralized finance (defi) solutions and decentralized exchange (dex) platforms have been very popular. Dex applications, in particular, have seen massive demand and during the last 30 days, dex trade volumes have reached $39 billion in swaps. However, one of the biggest issues confronting dex users continues to be the enormous fees associated with interacting with platforms like Uniswap and other dex platforms. Ethereum’s Decentralized Exchange Platforms See Record 30 Day Trade Volumes Dex applications like Uniswap, 1inch, Sushiswap, 0x, Matcha, Kyber, and others have…

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