Cryptocurrency

Iran had a massive crackdown on Bitcoin mining, seizing 45,000 machines, after the country was hit by blackouts

- January 19, 2021 < 1 MIN READ

Iranian police confiscated more 45,000 bitcoin mining machines, chewing up around 95 megawatts per hour (MWh) of electricity, because the miners were using cheaper, subsidised power illegally, according to local media agency Tasnim News. To put that in perspective, that’s around half the capacity of South Australia’s Tesla “big battery” plant (aka Hornsdale). Iranian authorities… Read more »

Cryptocurrency

Yes, a guy has nearly lost $340 million worth of Bitcoin after forgetting his password, but he’s a small part of a $200 billion problem

- January 15, 2021 2 MIN READ

If you’re feeling a bit sad about your fortunes at the moment, spare a thought for San Francisco-based computer programmer Stefan Thomas, who, around a decade ago, made this video and took 7,002 Bitcoins as payment for the job. The New York Times has the sad tale of German-born Thomas – a former CTO at blockchain… Read more »