The hard life of the crypto miner

After the recent crackdown on cryptocurrency miners by the Chinese government, one could have imagined long lines of miners fleeing to the borders with computers on their backs. But the hard life of the miner has found new hope in the possibility of certifying his energy-intensive work with the label of carbon neutrality. In Sichuan, a region rich in low-cost energy generated by an advanced hydroelectric system, the aim is to welcome these bit workers again willingly, if only for the induced market and wealth they can generate. Similarly, in the American territories awaiting the implementation of Joe Biden’s promises on taxation and regulation of the crypto sector, there are glimmers of greater availability. The Texas Senate met to discuss the Virtual Currency Bill. That is on a law that establishes a legal framework around investments in bitcoin and cryptocurrencies. In an article for the National Law Review, Daryl Roberston and Patrick Boot write: “The Virtual Currency Bill provides a clear and concise framework for establishing how control over virtual currency occurs and makes it clear that control can be established regardless of whether the possibility to exercise it is shared with another person, a key element for banks and other non-bank financial institutions to effectively provide custody services for virtual currencies. “Furthermore:” The surgical approach adopted by the drafters of the bill provides the right balance to allow the industry to continue to mature, while leaving ample and adequate room for further regulatory changes in the future. “And then there is Philip Huges, a young Welsh farmer who has set up a mining business using manure of his cows to produce electricity. To help him in this task, some real ones have been set up and its own anaerobic digestion machinery, i.e. devices that process waste and feed the platform, which specializes in the extraction of Ethereum. Collaborates with him Josh Riddett who manages Easy Crypto Hunter, a company that sells and hosts mining facilities based in Manchester. The two have plans to produce small-scale renewable electricity generators to be installed for those who buy them. This has already been done on 42 sites.