Riot, the Bitcoin blockchain mining company, has described its latest results report as ‘significant’, with 362 BTC mined in one month. 

The Riot blockchain mining operation released unaudited results for September last month, confirming the Bitcoin mined and underlining its commitment to the stability of the electric grid. 

CEO Jason Les said that in addition to the BTC mined, the company had received $11 million in power credits in September for reducing its energy use through strategic mining curtailment. 

## Riot blockchain mining explained 

[Riot](https://www.riotplatforms.com/) says it supports the Bitcoin blockchain with large-scale mining in the US. Its focus is on expansion and increasing the infrastructure capacity and hash rate. Its US operations will, Riot claims, benefit the future of BTC mining. 

Riot blockchain mining operates from central Texas, while its fabrication operations and electrical switchgear engineering are based in Colorado. It claims that its facility in Rockdale is the largest BTC mining and hosting base in the US, measuring 700 MW in developed capacity. 

The September update put its deployed hash rate at 10.9 EH/s, up from 10.7EH/s the previous month. 

## Riot blockchain mining update 

A statement issued from Colorado in October from the NASDAQ-listed Riot blockchain mining operation gave an update on its figures for September. 

While recording an increased deployed hash rate, the statement explained that the figure excluded more than 14,000 miners who had been offline in September due to damage caused to a building on its Texas facility by bad weather. 

It also highlighted the value of participation in the demand response programmes of the Electric Reliability Council of Texas ([ERCOT](https://www.ercot.com/)), which allowed it to sell back pre-purchased power and receive power credits. Strategically curtailing [specific mining operations ](/news/article/mining-company)allowed it to reduce power use below the pre-purchased level. 

CEO Les said September was ‘another significant month’ for the Rio blockchain mining operation. The company not only showed the value of BTC mining, but also contributed to ERCOT electrical grid stability, he added. 

Confirming that mining operations during the month produced 362 BTC, Les announced Riot received $11 million in power credits, thanks to long-term agreements with its utility provider, plus $2.5 million in Demand Response Credits from being part of the ERCOT ancillary services programme. 

Based on the September Bitcoin price, the CEO said, these credits totalled around 511 BTC. Its power use strategy also ensured capacity on the electrical grid was available when most needed so other customers were not left without during increased power demand periods. 

## Riot figures 

The update reveals that an average of 12.1 BTC was produced each day in September. The 362 Bitcoin mined in the month brought the total holding to 7,327. It was also noted that 340 BTC had been sold in September. This earned net proceeds of $9 million based on an average BTC value of $26,379. 

While noting a number of miners were offline due to damage to a building in Texas, the report confirmed there were 98,694 miners in September, up from 95,904 the previous month. 

## Heatwave in Texas 

A working example of the Riot power use strategy came during September. Extreme heat led to a spike in electricity prices and demand. 

As part of its strategy, Riot cut mining operations on the peak demand days, providing energy to ERCOT rather than securing BTC revenue. 

The company’s update heralded this as Riot contributing to power security by reducing its use of the overall grid capacity so other consumers did not have interruptions to their supplies. 

## Hash rate ramps up 

The CEO of the Riot blockchain mining operation said the company’s hash rate had begun to ‘ramp back up’ thanks to the installation of new dry coolers at its base in Rockdale. 

As further works are carried out, the hash rate capacity will continue to climb, Les said, predicting a 12.5 EH/s hash rate capacity will be reached this month. 

Following an agreement with MicroBT, including an order for next-generation BTC miners, Riot’s total hash rate capacity could top 20 EH/s by the middle of next year. 

## The Riot mission 

The Riot blockchain mining company states its mission is to 'positively impact' on all communities and sectors it interacts with. 

Community partnerships and a spirit of innovation are the best way to achieve successful outcomes and become ‘best in class’, it adds. 

Riot Blockchain Mining Update 

Many people are looking for the best crypto mining game to download and play, so let's look at some contenders. 

Revenue from contributing power to the blockchain industry led to the creation of companies such as Marathon Digital, Bitmain, Riot Blockchain, Canaan Creative, Argo Blockchain, Bitfury, Bitfarms, and TeraWulf Inc., among others. 

Revenue from Proof-of-Work (POW) cryptocurrencies such as Dogecoin (DOGE), Bitcoin ([BTC](/news/article/bitcoin-extractor)), and Ethereum (ETH) (before it moved to Proof-of-Stake in September 2022) made these companies millions of dollars. 

While many of these companies rely on application-specific integrated circuits (ASICs) to mine coins,[ crypto](/news/article/is-crypto-regulated-across-the-globe) mining games have provided a perfect opportunity for stakeholders in the decentralized finance economy without the much-needed infrastructure to learn and earn tokens from this recreational activity. 

Below is a look at what these games entail. 

## What is a crypto mining game? 

This is where gamers use the gaming systems built by their publishers to mine cryptocurrency. 

It is similar to most of the casual games found on smartphones powered by the iOS and Android operating systems from the Apple and Google Play Stores, respectively. The only difference is that they are built on a play-to-earn (P2E) model. 

This is a growing sector in gaming that has been forecast to reach approximately [$9 billion](https://finance.yahoo.com/news/play-earn-nft-games-market-150700399.html) by 2028, according to Absolute Reports. 

By contributing computing power through the game for the verification and validation of transactions, gamers earn virtual assets, which can be converted into mainstream digital assets. 

While many publishers have taken advantage of the increasing number of people dabbling in this new way of [earning crypto](/news/article/is-crypto-dead), here are the best games you can consider installing on your smartphone. 

## What is the best crypto mining game on the market? 

There are many games on the market, which will make it difficult to point out the best one. Despite this, CrazyMiner and Crypto Miner Tycoon are among the best in a market that is gradually becoming saturated. 

### CrazyMiner 

Published by Dropout Games, CrazyMiner is set at a time when the market has reached a bubble. As a gamer, your goal is to create the largest warehouse. 

Despite this being a game, you still need reliable energy in the form of computing power to be able to accomplish your dream. 

As a P2E game, it is housed in the Binance Smart Chain (BSC), and you earn the novel token of the CrazyMiner ecosystem called Power ([PWR](https://coinmarketcap.com/currencies/crazyminer/)) when you fight your enemies, with your primary weapon being your energy (computing power). 

Like every game, you need to have a strategy in mind before you can complete all the levels. The app, which [can be downloaded on the Google Play Store](https://play.google.com/store/apps/details?id=com.dropout.crazyminer&hl=en_US&pli=1), has more than 9,000 followers on X (formerly Twitter), and has additional channels on YouTube, Discord, Telegram, and Facebook. 

### Crypto Miner Tycoon 

Published by CreativeForge Games, this is a video game that was created to allow users to mine BTC, ETH (before becoming POS), and other cryptocurrencies. 

It is a game tailored to bring huge cash flows to gamers, as their earnings can be traded on cryptocurrency exchanges to grow their wealth. 

Like the others, it can be downloaded on the [Google Play Store](https://play.google.com/store/apps/details?id=com.mysterytag.cryptominer&hl=en&gl=US&pli=1) and also accessed on [Steam](https://store.steampowered.com/app/1859290/Crypto_Miner_Tycoon_Simulator/) and the [Apple Store](https://apps.apple.com/gb/app/crypto-miner-tycoon/id6450786835). 

Aside from these two, other [honourable mentions](https://www.esports.net/crypto/mining-games/) include, but are not limited to, FWAR, Space Heroes, KRYXIVIA, CryptoNauts, Crypto Coal Game, and Mining Tycoon.

What is the best crypto mining game out there? 

[Argo block chain](https://argoblockchain.com/), a global data centre headquartered in London, UK, has created a powerful platform for efficient cryptocurrency mining operations. 

The company tags itself as providing a platform that powers some of the world’s blockchain technologies.  

Unlike other companies, Argo uses renewable energy sources to help blockchain technology's growth and development. 

Despite competition from other crypto mining companies such as [Marathon Digital Holding](/news/article/marathon-digital-sustainable-mining), Riot Blockchain, Hut 8 Mining Corporation, Bitmain, Canaan Inc., Bitfarms Limited, and Genesis Mining, among others, the company is responsible for about 1% of the global mining network hash rate of the largest digital asset by market capitalization [Bitcoin ](/news/article/bitcoin-rally-sees-gain-this-week)(BTC).

It also provides around 5% of the global hash power for the mining of privacy cryptocurrency ZCash (ZEC).   

## Argo block chain saw a 3% spike in revenue during April 

Revenue from mining BTC was [£3.35 million](https://consent.yahoo.com/v2/collectConsent?sessionId=3_cc-session_5c3fdee5-f6b9-4c46-a594-0ed55ee1215e) during the year's fourth month. This was a 3% rise in revenues from March, which was roughly £3.28 million. 

The increment came from BTC trading in the range of £21,743.58 and £24,904.02 during April while exchanging hands in the range of £15,765.91 and £23,421.52 throughout March.  

Overall, 144 BTC were mined, which was broken down to 4.8 BTC daily. While this was 8% below that of March (5.2 BTC daily), the aforementioned data explains why revenue went up despite a relatively lower number of mined BTC.  

The bearish mood engulfing the market has reduced the number of cryptocurrencies held by mining firms. Argo has not been exempted from the extension of crypto winter into 2023. As of the close of April 2023, 83 BTCs were held by the company. 

## What’s the latest on the mining company?  

According to the company’s operational update, there would be an increment in its hash rate. As of 30 April, the hash rate (this helps discover the mining difficulty and security) of a blockchain network) was 2.5 exahashes per second (EH/s).  

About 2,870 BlockMiner machines from Epic Blockchain Technologies are expected to be installed in the third quarter of the year. 

This will add 0.3 exahashes per second to the hash rate capacity of the company, increasing the overall hash rate capacity to 2.8 EH/s (2.5 + 0.3). 

argo blockchain logo on blue iamge of skyscrapers in the metaverse

What is Argo Block Chain and How Does It Work? 

[Cryptohopper](https://www.cryptohopper.com/) is a versatile automated cryptocurrency trading bot that streamlines the management of all exchange accounts in one centralised location. 

This bot has various functions, including copying traders, market-making, exchange/market arbitrage, and the ability to simulate or backtest trading strategies. With Cryptohopper, investors can expect rapid automated investing and efficient portfolio management for more than 100 cryptocurrencies, including Bitcoin, [Ethereum](/news/article/ethereum-mining-operation), and Litecoin, on the world's leading crypto exchanges. 

## Features of Cryptohopper 

It offers a range of features for cryptocurrency traders: 

Portfolio Management: Connect and manage all your exchange accounts in one place using the free terminal. 

Trailing features: Automatically buy or sell based on price movements, with options for trailing stop-loss and take-profit orders. 

Trading Bots: Choose from pre-built strategies or create your own, and use AI to automate your trades. 

Pro Tools: Access advanced tools like dollar-cost averaging (DCA), market-making, and arbitrage, as well as free charting software. 

## Take your crypto investing a step ahead with Cryptohopper 

Trading Options: This bot offers a variety of trading options to its users, including long and short positions, limit and market orders, and stop loss orders, among others. This allows traders to customise their strategies to their risk tolerance and market outlook. 

Automated Trading: With this bot, users can automate [trading strategies ](/news/article/trading-212-guide)to allow them to take advantage of market opportunities 24/7. The platform offers a range of customizable bots tailored to different market conditions and user preferences. 

Copy Trading: For users who prefer to follow the trades of more experienced traders, Cryptohopper's copy trading feature allows them to do just that. Users can browse and select from various successful traders to copy and adjust their settings to match their risk and investment goals. 

Strategies: It also offers a range of pre-built strategies that users can utilise or customise to suit their needs. These include strategies based on technical indicators, market trends, and other factors. 

Pro Tools: It provides pro tools for advanced traders, including market-making, arbitrage, and dollar-cost averaging (DCA) tools. These tools can help traders to optimise their trades and minimise risks. 

Positions: [Cryptohopper](https://www.crunchbase.com/organization/cryptohopper) lets users view and manage their positions in real-time, including open orders, trades, and portfolios. Users can also track their performance and adjust their strategies as needed. 

Trading Features: Besides the above, it also offers a range of other features, such as backtesting tools, trailing stop-loss orders, and order execution notifications. These features help users stay on the market and make informed decisions. 

## How does Cryptohopper work? 

Cryptohopper functions by automatically executing trades on a linked trading account. 

To link an exchange account to your Cryptohopper account, you'll need to enter the API key, which can be found in the exchange account settings. Although the linking process may vary between exchanges, Cryptohopper offers comprehensive tutorials on linking accounts to various exchanges. 

Once your exchange account is connected to the Cryptohopper bot, it will perform trades based on the applied settings. The bot will conduct technical analysis based on market conditions and then buy or sell your cryptocurrencies according to the pre-set trading strategies. 

One of the advantages of using Cryptohopper is that it is supported on most major exchanges, making it a versatile tool for traders. Additionally, it is easy to set up and use, which is particularly beneficial for novice traders who may need more support with complex trading platforms. It also provides users with good tutorial resources, which can help simplify the platform's process. 

cryptohopper logo on blue image of crypto mining cart full of cryptourrencies

Cryptohopper: Automated crypto trading bot 

Helium (HNT) and Data Credits are the two units of exchange that power the Burn-and-Mint Equilibrium token model of The People's Network. 

The People's Network, powered by the Helium Blockchain, constitutes a fundamental change for decentralised wireless infrastructure. 

![Homepage image of HNT website](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_05_at_15_31_19_d23412dd42.png)

## What is The People’s Network? 

In a nutshell, The People's Network is the world's largest and quickest-growing Long Range Wide Area Network (LoRaWAN), with hundreds of organisations and thousands of developers already BUIDLing on the network. 

By simply deploying any device in your home or office, you can obtain low-power network coverage that can sustain billions of devices at a time. And it gets better – by connecting your device to a network Hotspot, upon device validation and wireless coverage provision, you also earn a new cryptocurrency called HNT. 

[This crypto mining setup ](/news/article/norway-bitcoin-mining)is without expensive GPU technology and makes for an interesting passive [income opportunity](/news/article/metamining-earning-passive-income-from-bitcoin). HNT mining is done via radio technology, and, currently, there are more than 990k network Hotspots, with over 143M HNT tokens in circulation. 

## Helium (HNT) market cap and price predictions 2030 

As is [advertised on the website](https://www.helium.com/token), there is no pre-mine of the cryptocurrency and its maximum supply is capped at 223M tokens. 

With more than 143M HNT in circulation currently, roughly 64% of the total token supply has been distributed to various eligible parties already. 

According to [Coingecko data](https://www.coingecko.com/en/coins/helium), HNT is priced at $1.77 at the time of writing. The crypto asset has a total market cap of more than $255M and a 24-hour trading volume of over $2.55M. HNT achieved an all-time high of $54.88 on 12 November, 2021, and an all-time low of $0.11 on 18 April, 2022. 

![coingecko price chart for HNT](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_05_at_15_31_27_1423dbbc15.png)

Source: [Coingecko ](https://www.coingecko.com/en/coins/helium)

From this chart and historical price data, it is clear that Helium is a particularly volatile cryptocurrency that experienced a massive price dip between late November 2021 and March 2023. 

Of course, this period has coincided with several macroeconomic and crypto industry-related issues. Since falling to a 17-month low of $1.23 on 23 March, 2023, Helium has recovered slightly. That said, what is the true ceiling for the cryptocurrency? 

While it is hard to predict how high HNT could fare in terms of its price, The People's Network is surely gaining traction by the day. Several prominent figures across numerous industries are taking advantage of the network, including Agulus, Airly, Nowi, Digital Matter, and LoneStar Tracking. 

“Our devices monitor water usage and help with leak detection. For us, Helium is essential because the cost of and the barriers to installing a gateway to every single deployment would make those deployments much more difficult.”  -Nowi co-founder Charles Fayal 

These organisations are BUIDLing a rich ecosystem of software and hardware solutions that utilise and support The People's Network. Applications include indoor/outdoor location tracking, the Internet of Things (IoT), smarter agriculture, smart gateways, air quality monitoring, staking provisions, and smart weather stations. 

It is evident that The People’s Network infrastructure is supporting REAL WORLD change, with HNT at the heart of the ecosystem. 

Keeping that in mind, the prospect of [cheap crypto mining](/news/article/marathon-digital-sustainable-mining) (in the form of HNT mining), the cryptocurrency's fixed token supply, historical data, and the potential growth of the crypto industry with time, among several other factors, the crypto asset could achieve a multi-billion dollar market cap in the near future. HNT is likely to hit double-digits again as well. 

[Popular crypto exchanges to buy](/news/article/bitrue-crypto-exchange-reviewed) the cryptocurrency include eToro, Crypto.com Exchange, Gate.io, Kucoin, and Bybit. Currently, Gate.io is the most popular exchange to trade Helium. 

As always, do your own research and follow the project closely to learn of the latest updates. To help you better understand the crypto asset's fundamentals, let us explore it in more detail. 

## Everything you MUST know about Helium (HNT) 

- The distribution of Helium changes over time. This ensures that HNT distribution is aligned with network needs. Let us explore the Year 1 Breakdown to understand the incentives model better: 

- Network data transfer: 30% of the Year 1 supply was awarded for hearing devices and receiving and passing on their data packets to the internet. 

- Hotspot infrastructure: 35% of the Year 1 supply was awarded for creating, witnessing, and participating in Proof-of-Coverage challenges. 

- Helium Systems Inc. and investors: The remaining 35% of the Year 1 supply was assigned to organisations, investors, and founders who will be in charge of blockchain governance. 

For BUIDLing and securing coverage, a large proportion of Helium is allocated to Hotspot owners in the early days. As the network grows in stature, Hotspot owners earn more for relaying device data on the network, while Helium Systems Inc. and investors earn less. 

After 20 years, HNT distributions will no longer undergo change. The below chart summarises the HNT token distribution system over 50 years. 

![helium investors chart](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_05_at_15_31_35_13b89202aa.png)

## Network Data Transfer Rewards 

Network Data Transfer Rewards are distributed at a 1:1 ratio to Helium spending and are restricted to 30% of all minted HNT (Year 1). As a bonus for providing early network coverage, the remainder is awarded to the Proof-of-Coverage Rewards Pool as a bonus. 

## Helium (HNT) supply 

With a maximum supply of 223 tokens, all Helium was mined from Genesis, commencing at a rate of 5M tokens each month and then halving after two years. On 1 August, 2021, the net issuance of HNT tokens was halved to 2.5M tokens/month. 

![line graph of HNT vs inflation rate](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_05_at_15_31_40_026c4182d8.png)

On 1 August, 2023, the net HNT issuance will again be halved to 1.25M tokens/month. 

## Net Helium (HNT) Emissions 

With the net HNT issuance halving every two years, there needs to be a mechanism to reward Hotspots if there is not enough Helium minted at the time of asking. Net Emissions uses (recycles) 'burned' HNT tokens to reward Hotspots (see the Burn-and-Mint Equilibrium token model we referred to earlier). 

Net Emissions are limited to 1% of current token issuance per epoch. This system oversees Data Credit network usage and adds that amount of tokens (taking into consideration the cap) onto the issuance supply. 

The system ensures deflationary pressure is not extinguished after the cap has been reached while allowing for rewards to exist in years to come. Once the limit is exceeded, the network value should logically increase, satisfying the Burn-and-Mint Equilibrium token model. 

The below chart explains how Net Emissions towards Hotspot rewards increase as HNT minting decreases over 50 years. 

![hnt minting supply chart](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_05_at_15_31_47_a3d9f5feff.png)

Considering these factors and features, it is clear to see that HNT is backed by sound fundamentals. Coupled with the promise of the network's underlying technology and all other points of discussion, Helium seems to be a good long-term investment option. For the last time, DYOR before making an investment decision! 

To round off your understanding of Helium and the token model of The People’s Network, let us explore the Data Credits system. 

## Data Credits 

These are used by devices to send data on The People's Network and for blockchain transaction fees (Helium Blockchain). They are created by burning HNT tokens, are tied to a single user, and are non-exchangeable. As such, Data Credits are the ONLY payment accepted to send data over the network. 

The data transfer takes place via Helium LongFi. The price of one Data Credit is fixed in US dollars (1 Data Credit = $0.00001). You can convert your HNT to Data Credits or purchase Data Credits from an HNT owner. 

As soon as Helium is converted to Data Credits, the converted tokens are burned and removed from the circulating supply. 

## Fun facts about Helium (HNT), The People’s Network 

Here are some fun facts about The People’s Network that you MUST know: 

- You can [stake HNT](/news/article/hnt-staking-and-maximizing-returns) to become a validator, secure the network, and earn more of the cryptocurrency! Learn everything [about staking here](https://www.helium.com/stake). 

- The network is built on open-source technology and governed by an open association. This makes for transparent development and governance. 

- With thousands of existing MCUs, chipsets, and sensors, development on the network is streamlined and easy. 

- There are more than 120 projects utilising the network's wireless technology at the moment. 

- The wireless technology is scalable and affordable, as running a single Helium sensor costs mere cents. 

hnt coin on green iamge of cryptocurrency coins

HNT: Why Helium is the New Crypto Mining Haven 

[Marathon Digital Holdings](https://marathondh.com/) (MDH) aims to ease economic freedom, financial inclusion, and greater transparency by improving the security and development of the world's first and largest public blockchain ledger, Bitcoin (BTC), a block at a time. 

The organisation believes in a more fair, inclusive, and open financial system—Bitcoin is crucial to making it happen. MDH is committed to supporting the Bitcoin ecosystem by building sustainable, agile, and large, [green Bitcoin mining ](/news/article/norway-bitcoin-mining)systems in North America. 

## Sustainable BTC mining powered by Marathon Digital 

MDH is in the process of building one of the largest green BTC mining systems in North America. The organisation aims to achieve its goal of [sustainable, green BTC mining](/news/article/sustainable-mining) by focusing on increasing computing power (or hashrate) rather than building and operating data centres. 

The business intends to stay lean and green while becoming more energy efficient. A key component of its strategy is to co-locate operations at feasible, sustainable energy sites. This ensures that its power source is sustainable and reduces the stress placed on traditional electrical grid infrastructure. 

In a nutshell, the company deploys more robust BTC miners to increase hashrate and hence, the possibility of earning more Bitcoin. By employing sustainable energy sources, leveraging its scale, and remaining agile, MDH can negotiate favourable contracts, swiftly adapt to altering circumstances, and ‘de-risk’. 

This enables the business to better cope with the impacts of potential declines in the price of Bitcoin. 

## Marathon Digital: the latest financial news 

The current value of the Marathon Digital Holding Inc. stock, MARA, is $5.33, with a market valuation of nearly $622.8M. It should be noted that one year ago, MARA was trading above $30 (30 March, 2022)! 

 ![marathon digital holdings stock graph screenshot](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Marathon_2023_03_30_at_09_15_01_f9736160b9.png)


According to the latest financial result filed by Marathon Digital (Q3 2022), the organisation recorded a net loss of $75.4M in Q3 2022. Therefore, the latest news governing Marathon Digital's prepayment of its whole-term loan should be music to the ears of investors. 

In early February 2023, the organisation gave Silvergate Bank the necessary 30-day notice, indicating its intent to repay and terminate the term loan facility. The prepayment was completed on 8 March, 2023, and the organisation's facilities with Silvergate Bank were ended (talk about timing!). 

This resulted in an enormous debt reduction of $50M and an increase in unrestricted BTC holdings by 3,132 tokens - the BTC held as collateral by a third-party custodian as part of the term loan deal was returned to Marathon Digital. 

To put this into perspective, this move alone has resulted in the company reducing its leverage by $50M, freeing up more than $70M in BTC at the time of writing, and reducing facility fees and annual cash interest costs by around $5M. Other interesting statistics include: 

- The company’s mining facilities produced 683 Bitcoin in February 2023. 

- MDH enhanced the BTC hash rate by 30% compared to January 2023 by energising nearly 19,000 miners. 

- Figures related to unrestricted cash and BTC holdings are subject to change following the latest term loan deal. But if we are talking about figures in February exclusively, the company has unrestricted cash holdings of $219.7M and unrestricted BTC holdings of 8,260 tokens. 

With a push for sustainable, [green mining measures](/news/article/new-york-crypto-mining) the need of the hour, leaders like Marathon Digital is making more than a splash. Follow the latest updates from MDH by signing up for email alerts. 



green image of marathon  digital holdings logo

Marathon Digital: Sustainable Bitcoin Mining

As the crypto market continues to develop, we are witnessing more and more ways to get involved in the cryptocurrency hype. An area gaining popularity is the Play to Earn (P2E) sector. One of the latest P2E games is Rollercoin, which describes itself as an 'online crypto mining simulation game'.

The idea is simple. Players are rewarded with a share of block rewards depending on their mining power – just as in real crypto mining. This may sound fraudulent, but by all accounts, the project is legitimate.

As with other P2E games, the idea is to build your character – the stronger the character, the more crypto it earns. Registration is free and straightforward, meaning you can be good to go in less than five minutes.

P2E has its critics, but no one can argue against its market penetration, especially in South East Asia, where games like Axie Infinity became the primary source of income for many through the pandemic.

## Block rewards

The Rollercoin gameplay is easy to understand, which is one of its biggest draws. As in the real world of Bitcoin mining, players are awarded block rewards based on their mining power. There are two main ways competitors can increase their mining power. These are:

•	Buying miners.

•	Playing games.

Games are an exciting and fun way to gain power, but any power extracted only lasts 24 hours. It is generally accepted that buying miners is a better strategy.

The Rollercoin game has been created to entice players and keep them entertained with cool graphics in a fun environment. The more power extracted, the more you can customise your character and in-game functions. The choice to [keep or reinvest your block rewards](https://www.esports.net/crypto/games/rollercoin) rests solely with you.

Although purely a Bitcoin mining simulator, Rollercoin is fun to play and introduces players to the often technical concept of Proof of Work mining, which is no bad thing. That said, we are currently witnessing a move towards more sustainable crypto blockchains and, therefore, interest in energy-intensive PoW projects may start to wane in the near future. At this point, it is difficult to say.

## Immersive experience

If you are new to the P2E concept, games like Rollercoin may sound too good to be true. Looking closely at the project, there is no reason to be pessimistic. Although minimal, players earn Satoshi's (SATs) while playing the game. Once earned, you can remove them to an external wallet or keep your earnings on the platform. For more information on the earning potential of P2E games, check out [our article](/news/article/play-to-earn).

For this Rollercoin review, I have kept things simple. However, anyone interested in how the game works only has to look at the [FAQ page](https://rollercoin.com/faq). As you will see, players also have the opportunity to mine Ethereum and Doge.

Rollercoin offers players a fun and immersive experience, one which mirrors the often quite stressful real world of crypto mining. Players must consider many issues, such as hash rates, predicted profit, and remembering to recharge their machines when needed. As I mentioned above, this is a great way to become familiar with the mining concept without getting your digital hands dirty.

Block rewards are processed every ten minutes, which gives a rewarding and enjoyable experience. Furthermore, Rollercoin players can invite their friends to join in the mining fun, creating a competitive edge to the platform. Players are also encouraged to participate in one of the many contests and promotions the platform supports to reward the most hard-working miners. This, of course, is a great way to keep players engaged and talking about the project.

Overall, despite its initial appearance, Rollercoin is a decent way to spend a couple of hours. The fact that you are rewarded for your endeavours is even better. Play to Earn is an interesting concept and one which may well take the world by storm in the next five to ten years. Rollercoin is a simple and hassle-free way to find out if this is something that works for you.


purple image of crypto mining server farm and hamster rollercoin logo in centre

Introducing Rollercoin: Crypto Mining Made Easy 

Police in Massachusetts have charged a civic employee for setting up a scheme for illegal crypto mining in a small crawl space under a local school. Police alleged that 39-year-old Nadeam Nahas unlawfully attached his bank of computers to the electrical system at Cohasset Middle High School, which is at least 10 miles out of Boston.

According to [court documents](https://www.bostonglobe.com/2023/02/24/metro/man-accused-running-crypto-mine-out-cohasset-school-appears-quincy-court-arrest-warrant-canceled/), the criminal [crypto-mining](/news/article/mining-company) scheme comprised 11 computers and a multifaceted cooling system that added $17,500 to the school’s electricity bills. Authorities believe Nahas ran his crawl space mine from April to December 2021, when he worked as HVAC coordinator and assistant facilities director beginning January 2021 before resigning in early 2022.

## Items used in crypto-mining operation

In a press statement to the [BBC](https://www.bbc.co.uk/news/world-us-canada-64767178), Cohasset Police boss William Quigley stated that investigations began in December 2021 after the facilities director of the town discovered electrical wires, ductwork, and several computers that looked misplaced during a routine inspection. During the initial investigation, Nahas and his boss, the town's facilities director, reported they had shut off the computers due to the high heat they generated.

However, a subsequent investigation involving the US Coast Guard and the Department of Homeland Security placed Nahas, initially denying any involvement, at the center of the operation of illegal crypto mining. Police found credit card receipts in Nahas's name that were used to buy Coleman 48qt coolers, extreme weather foil, insulated flex ducts, a water-based sealant tub, and insulation sleeves. All the items were located in the crawl space and used in the illegal crypto-mining operation.

## On high alert about cryptojacking

Crypto mining is a process used to validate cryptocurrency transactions and create new cryptocurrency coins. However, the process consumes [massive amounts of electricity](/news/article/crypto-mining-farms). As cryptocurrency becomes more popular and grows in value, crypto mining also becomes a magnet for crypto thieves. 

Last December, authorities in Thailand seized [3,500 illegal crypto-mining units](https://www.bangkokpost.com/thailand/general/2455120/thousands-of-illegal-cryptocurrency-mining-units-seized) from 41 commercial buildings and apartments in Bangkok connected directly to power lines. They unlawfully drained more than $14 million worth of electricity.

Big tech firms like Amazon, Microsoft, and Google have always been on high alert about[ cryptojacking,](https://www.kaspersky.com/resource-center/definitions/what-is-cryptojacking) a different kind of illegitimate crypto mining where hackers hijack a computer's resources without the owners' knowledge to mine cryptocurrencies. Privacy coin [Monero](/news/article/how-to-buy-monero) (XMR), which is famous with Dark Web users, is the most popular coin mined this way.

Illegal Crypto Mining Syndicate Busted

Ocean mining crypto may require you to purchase a mining hardware setup. It is important to factor in the volatility of Ocean Protocol (OCEAN), the number of competing OCEAN miners, the cost and power of the mining rig (note: crypto mining [consumes considerable energy](/news/article/norway-bitcoin-mining), and profitability metrics before investing.

There are many hardware rig options on the market today. We have made it easy to choose one best suited to Ocean mining crypto and your requirements.

![oceanmining.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/oceanmining_9736398af3.png)

## Ocean crypto options: mining hardware rigs

There are several Ocean mining crypto options, but before we explore them, let's revise some crypto mining basics.
The power of a crypto hardware rig is determined in the form of hashrate.

The greater the hashrate, the more guesses your hardware setup can make to solve cryptographic puzzles (and earn cryptocurrency as a reward). When there are a large number of competing miners, mining difficulty increases, and it is beneficial to have a system with greater computational power.

If you are considering investing in a long-term crypto-mining option, we recommend purchasing an ASIC miner. An ASIC rig comprises a motherboard, ASIC chip, and cooling system. Here is a list of the [best options](https://www.softwaretestinghelp.com/best-asic-miners/) for the same.

Avoid mining with a GPU setup, as they are more expensive than ASIC miners and generate less power. DO NOT mine with a CPU!
It should be noted that earning a return on investment (ROI) may take a few months. Mining setups produce significant noise and heat and [consume considerable electricity](/news/article/sustainable-mining) (as mentioned before).
You may also have to invest in repair work, as these setups run 24/7 and are prone to wear and tear.

We have great news for you if you do not want to invest in hardware. [The IQMining platform](https://iqmining.com/) makes it possible to mine OCEAN without purchasing hardware equipment. Simply sign up, purchase a cloud mining contract, and withdraw your profit to a compatible digital wallet (more on this later).

![ocean2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/ocean2_8cae447f68.png)

Source: [IQMining](https://iqmining.com/)

The above chart displays the list of available cryptocurrencies, price in USD, hashrating algorithm, block number, and network H/S. Please study each of these concepts and make an informed investment decision.

IQMining makes it possible to mine hundreds of altcoins from the comfort of your home. The shortest available contract spans a duration of one year. You can avail yourself of a lifetime contract as well!

## Everything you should know about OCEAN

The OCEAN utility token is an ERC-20 token that powers the Proof of Work (PoW) Ocean Protocol ecosystem - an ecosystem of next-gen tools to unlock data at a large scale. You can purchase the cryptocurrency at a number of [popular cryptocurrency exchanges](/news/article/coinmama-crypto-exchange), including Binance, Kraken, Uniswap, and Crypto.com.

The digital asset can be stored in any wallet with ERC-20 compatibility. We recommend hardware wallet options, as they are the safest. [Some wallets to choose from](/news/article/best-crypto-wallet-uk-top-picks) include Ledger, Trezor, and MetaMask. Once you have purchased/mined the digital token, you can earn additional rewards via staking.

The longer you stake OCEAN, the more staking and voting rewards you receive. If you stake OCEAN, you will receive veOCEAN tokens corresponding to the staking period.

For example, if you stake X OCEAN for one year, you will receive 0.25X veOCEAN. For a two-year staking period, you will receive 0.5X veOCEAN. For three and four-year staking durations, you will receive 0.75X and X veOCEAN, respectively. veOCEAN holders will receive rewards from Data Farming and community fees.

The price of the crypto asset at the time of writing is nearly $0.46, according to [CoinMarketCap data](https://coinmarketcap.com/currencies/ocean-protocol/). Do factor in the digital asset's price, the potential of the ecosystem in the long-term, and each of the listed metrics when making an Ocean mining crypto decision


Ocean Mining Crypto: All You Need to Know 

Pi Network has freed up to 25% of total Pi mining rewards, the latest activity on the blockchain protocol showed.

According to the newest [mainnet metrics](https://twitter.com/Edycabas/status/1623718952181563392?ref_src=twsrc%5Etfw), locked mining rewards currently stand at approximately 1.2 billion (1,218,602,971.0768094) from a total migrated mining rewards of about 1.6 billion (1,621,790,457.8859322).

As a result, the difference of 400 million Pi tokens (or 25% of total migrated mining rewards) are now available for Pi miners (collectively known as Pioneers) who use their mobile phones to contribute to the validation and verification of transactions involving the cryptocurrency. 

Many analysts have attributed the unlocking of tokens to the increasing number of transactions and rewards for Pi miners.  

The milestone by Pi Network comes a month after the project’s core team announced a [Hackathon](https://twitter.com/PiCoreTeam/status/1613899542633582598) to grow its ecosystem. In the crypto and blockchain industry, a Hackathon is an event that enables developers to build decentralized applications (DApps) and other products for a particular project.

The [midpoint check](https://twitter.com/PiNewsMedia/status/1623202439959834625?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1623202439959834625%7Ctwgr%5E8c538e446c96f345906549334804d6be26885f93%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.bsc.news%2Fpost%2Fpi-network-announce-midpoint-check-in-for-hackathon) for the Hackathon is slated for 12 February, with teams using Pi's Open Source license software in their final project standing a chance to receive 20 PI in rewards.

Mobile crypto mining is on the rise thanks to the use of smartphones and devices powered by Android and iOS systems. However, its future remains largely unknown due to a lack of a clear [global regulatory framework](/news/article/is-crypto-regulated-across-the-globe). 

## What is Pi Network?

Founded by Chengdiao Fan and Nicolas Kokkalis as a developer platform and social cryptocurrency, the network allows all smartphone users to mine the tokens without causing harm or destroying the lifespan of their mobile devices. 

PI appeared on cryptocurrency exchanges in December 2022 and reached an all-time high (ATH) price of [$330.65](https://coinmarketcap.com/currencies/pinetwork/historical-data/) on 30 December. With a substantial plunge in trading volume despite the soaring of Bitcoin [(BTC)](/coins/btc), altcoins, Metaverse stocks, AI, and big data tokens, PI has shed more than 80% of its ATH and was exchanging hands for $55.53 in the early hours of 10 February.

Pi is currently supported by several exchanges, such as BitMart, XT.COM, Huobi, Hotcoin Global, SuperEx, and CoinW.


Pi Network Unlocks More Mining Rewards 

Among the most popular Bitcoin mining pools available on the market today is MetaMining Club.

Based in Abuja, Nigeria, MetaMining Club is Africa's fastest growing blockchain mining operation and provides its clients with the opportunity to benefit from the mining of Bitcoin with minimal effort.

## Why mining?

The rise of Bitcoin has left many asking, "how do I get involved?". The recent volatility of crypto market trading means the search for Bitcoin passive income has never been greater.

For some time, one of the most popular methods for making money in crypto has been to get involved in mining. Crypto mining is the validation of transactions across a Proof of Work (PoW) network.

Computers battle to solve complex algorithmic math problems in a competition to process the next block of data on the chain – hence the term blockchain. For doing this, miners are [rewarded a portion of the fees](https://en.wikipedia.org/wiki/Cryptocurrency#Mining) charged to those sending crypto.

Mining Bitcoin has proven to be a very lucrative business, with large mining 'farms' set up worldwide. Some of these operations consist of thousands of mining rigs processing many transactions a day.

As you are probably all aware, mining [Bitcoin uses a massive amount of electricity](/news/article/crypto-mining), so much so that many Bitcoin mining farms look to locate their rigs in cold climates (negating the need for expensive air conditioning) with low electricity rates.

## Pool mining

Mining crypto has become increasingly difficult with recent rises in the cost of electricity and the hardware needed to compute ever-complex calculations. There is, however, a cheaper alternative to setting up your own mining operation. This is what is known as Bitcoin pool mining. With pool mining, no technical knowledge is needed. As the name suggests, you simply contribute to a pooled mining operation that conducts [all the hard work for you](https://river.com/learn/how-bitcoin-mining-pools-work).

[MetaMining Club](https://metaminingclub.com/) can manage the entire process for you – all you have to do is invest your money with them.

MetaMining Club has 10 'packages' to choose from, costing from under £2,500 up to £39,000. Each option promises varied levels of returns. For example, if you opt for the CityBoy package costing 7 million Naira (£12,618), you can expect payouts of somewhere between 480,000 and 880,000 (£865 - £1586). Calculations are a little vague, but the website shows that the expected monthly mining output is somewhere between 0.0029 and 0.0043 BTC. All machines used are S91 Antminers, which can process up to 15.2 Terra hashes per second.

## Risks

MetaMining Club offers the customer the chance to get involved with Bitcoin mining without getting their hands dirty. MetaMining Club hosts machines on their own mining farms and, in turn, connects these machines to major mining pools. This way, MMC can ensure that its returns are among the best in the business.

The high hash rate output is also one of the main reasons MetaMining lub can provide above-average rates of return.

Obviously, investing in crypto comes with risks. However, as miners are not actively trading, the volatility associated with crypto does not have any bearing in this situation. Furthermore, because MetaMining Club connects to mining farms abroad, they do not have to comply with restricting legislation in your resident country.

With any investment, it is important to conduct your own research and due diligence before you decide to part with your hard-earned cash. I advise the same in this situation


Metamining: Earning Passive Income from Bitcoin

[Baby Doge Coin](https://babydoge.com/), released in June 2021, is constructed on the Binance smart chain, with exceptionally fast 5-second block times and lower gas prices than Ethereum. Lets look at how it works and the mining process.

Binance Smart Chain (BSC) produces solidity-based smart contracts at a significantly faster and more efficient rate than other competing chains. BSC is one of the most extensively utilised blockchains for Decentralised Finance, with decentralised exchanges offering lightning-fast swaps and incredibly minimal fees.

The coin is hyper-deflationary with the static reflection that rewards holders, so additional coins add to your wallet with each transaction.

## Aim of Baby Doge

Baby Doge Coin was one of the first meme coins to launch with a live decentralised swap straight on its website.

It is also one of the first meme currencies to accept [credit card](https://cdn.shopify.com/s/files/1/0388/4833/1916/files/1228474_WhitePaperInfo_022822.pdf?v=1653089326) payments for crypto on its website. The Paw Wallet helps users to keep track of their rewards from reflections, wallet balance, currency worth, and other information.

The NFT marketplace is its most ambitious initiative. It will let users make and buy/auction their own NFTs and give a percentage to help preserve dogs. Finally, there is a product store where holders can proudly support their favourite meme in real life, with earnings benefiting the cause and assisting other dogs in need.

## Value of Baby Doge

### Transparency

Baby [Doge](/news/article/elon-musk-twitter-dogecoin) is decentralised and supported by its user community. They value open communication and feel trust, openness, and community are the three cornerstones of long-term success.

### Community

Baby Doge is one of the most rapidly developing and well-liked crypto communities, and they think they are only as powerful as they work together. [Community](/news/article/music-nfts-fans-community) is vital to them, and they seek to involve people from all around the world. We offer dedicated telegram channels for our foreign communities.

### Trust

Trust is essential in the crypto industry, which entails complete openness in the community, development activities, and security efforts. A third-party dessert finance firm has audited it, and the bulk of the LP tokens have been burnt and locked. There are no rug pulls here, only adorable baby doges.

### Longevity 

Baby Doge is committed to the long haul. To drive practical use cases, the decentralised community fosters and adopts long-term growth of the ecosystem and foundation.

### Baby Doge Coin ecosystem 

Baby Doge is decentralised and is controlled by its lively community. It encourages and supports varied viewpoints to establish the finest crypto community possible with the noble goal of saving dogs in distress.

Tokens of Initial Liquidity are burnt and locked. Existing holders receive a 5% fee for each transaction in their network. That implies you make more money by keeping it in your wallet. Furthermore, 5% of all transaction costs are for liquidity.

The coin has three simple functions: reflection, LP acquisition, and burn. Each transaction has a 10% fee, split two ways. 

•	A 5% charge applies to all existing holders. 

•	The 5% fee is divided 50/50, with the contract selling half of it into BNB. The other half is paired with the previously stated BNB and placed as a liquidity pair on Pancake Swap.

•	So far, 30%+ of the overall supply consumption means that every transaction burns 30%+ of the 5% redistributions.

## What is Baby Doge mining?

•	When [users](https://minebabydoge.com/) use this code x7dk-vmmj as their sponsor's referral ID, they will receive a 25% charge decrease (0.75% cost down from 1%) for Baby Doge mining

•	Users may choose between Windows and Mac [downloads here](https://unmineable.com/miner) and follow the instructions if they wish to participate in Baby Doge mining.

•	As Baby Doge mining grows more popular, more companies will begin accepting the coin and rewarding users for watching advertisements or performing little tasks online.

Find two sites that many users utilise to earn rewards below.

1) Clear Traffic 4U - Users receive one Baby Doge Coin for each eight-second advert they see. More information is available in the [members'](https://cleartraffic4u.com/r/bdr) area.

2) Orbital Traffic - For every eight-second advertisement viewed, users receive one Baby Doge Coin. More information is available in the members' area.


baby doge logo with pile of green crypto coins and shibe inu puppy in foreground

Baby Doge Mining Revealed

IT and blockchain solutions firm Core Scientific has shut down 37,000 crypto mining rigs it had hosted for Celsius, a cryptocurrency lender. The two companies came to this mutual agreement because Celsius had [gone bankrupt](/news/article/celsius-bankruptcy-protection), and it could no longer afford the massive mining rig farm.

Core Scientific first brought up this complaint in October when it [claimed](https://cases.stretto.com/public/x191/11749/PLEADINGS/1174910202280000000005.pdf) that Celsius had not been keeping up with its due bill payments. The IT firm still managed to hold on to its initial hosting contract for a further two-month period, but eventually filed a motion to cancel the contract between the two companies on 28 December.

According to the information brought up in the court, holding on to the contract was neglecting Core Scientific of about $2 million per month in potential revenue. 

Furthermore, Core Scientific claimed to have covered around $7 million in bills left unpaid by Celsius, but it couldn't "shoulder the burden of Celsius’ unpaid costs” anymore. The rising energy costs due to the ongoing Russia-Ukraine crisis also played a role in Core Scientific’s decision.

Finally, the mining rigs, all 37,000 of them, were shut down on 3 January, 2023, with no plans of restarting them any time soon.

## But why hasn’t Celsius been able to pay its bills?

A few months ago, Celsius filed for bankruptcy; hence, it couldn't afford to pay for the 37,000 mining rigs. The main reason behind the firm's bankruptcy was the downfall of the crypto market itself, as it was tightly correlated with Celsius' business model.

When your main course of business relies on lending cryptocurrency to others on highly lenient loan terms, you’re bound to get hit hard if the value of those cryptocurrencies plummets. That’s exactly what happened to Celsius. With the [crypto market crash](/news/article/crypto-crash) in 2022, along with the entire [Terra Luna debacle](/news/article/terra-luna-collapse), it would’ve taken a miracle for Celsius to have survived.

## A bad year for miners!

2022 served as a horrendous year for the crypto industry, especially for miners. Along with the market crash of major cryptocurrencies, the Russia-Ukraine crisis has also led to increased power costs. Both of these reasons combined have led many crypto miners to lose significant value in their share price.


red image of core scientific ceo and closed sign

Core Scientific Shuts Celsius Mining Rigs 

The Central Bank of Kazakhstan has recommended rolling out its in-house CBDC in 2023. The expansion will be done in phases with the goal of introducing it into commercial operations by the end of 2025.

Kazakhstan, the world’s third-biggest [Bitcoin mining](/news/article/how-to-mine-bitcoin-cash) hub, is now all set to launch its Central Bank Digital Currency, or CBDC, which is a digital tenge. The central bank revealed plans for the launch after the second testing phase was completed.

## Central Bank reveals initial studies on the CBDC

Changpeng “CZ” Zhao, CEO of [Binance](/news/article/guide-to-binance-uk), also revealed that Kazakhstan's CBDC will be integrated with BNB Chain, [the blockchain](/news/article/what-is-blockchain) built by the crypto exchange. Kazakhstan's primary motive for conducting studies and launching its CBDC is to improve financial inclusion in the country, promote competition, encourage innovation in the payment industry, and increase the nation's overall global competitiveness.

The initial studies conducted by Kazakhstan's central bank focused mainly on programmability and offline payment methods. It was then recommended that market participants and infrastructure players be included in different scenarios and clarified language be used by the country's regulators. The latest [research paper](https://nationalbank.kz/file/download/85770) on the matter reveals that the CBDC is recommended to roll out in phases due to the potential for infrastructure preparation, technological improvements, the development of an operating model, and a regulatory framework.

As Russian citizens continue to pour into neighbouring countries due to the war, Kazakhstan has announced its plans to legalise mechanisms for converting crypto into cash.

During the international forum Digital Bridge 2022, Kassym-Jomart Tokayev, President, stated that the country is ready to go further with the crypto-to-cash mechanism and even give it full legal recognition, given that the financial instrument continues to show its relevancy and security.

In addition, the neighbouring country, Georgia, also has plans to introduce new crypto regulations to become a global crypto hub.


yellow image of kazakhstan with central bank of kazakhstan logo in foreground

Central Bank of Kazakhstan CBDC Rollout

Microsoft customers now require pre-approved written permission to mine crypto like Bitcoin.
The computing giant introduced the changes earlier this month, revising its Universal License Terms for online services like Windows and Azure.

## New customer terms

A note on the company website states in the Updated Acceptable Use Policy that Microsoft suggests "seeking written pre-approval" ahead of using the company's online services for mining crypto, "regardless of the term of the subscription".

The company continued by saying that "testing and research for security detections may be considered" when giving permission to [mine cryptocurrency](/news/article/mining-farm).

## First notice of Microsoft crypto mining ban

[The Register noticed the Microsoft crypto update first](https://www.theregister.com/2022/12/15/microsoft_online_services_cryptomining_ban/#:~:text=Updated%20Microsoft%20has%20quietly%20banned,into%20effect%20on%20December%201.) and Microsoft explained that it made the change because "cryptocurrency mining can cause disruption and/or even impairment to Online services". The company added that crypto mining is often connected to abuse attacks and cyber fraud like "unauthorised access" to its customer resources. It concluded that the change is to protect customers and "mitigate" risks of disruption and service impairment to the Microsoft cloud.

Last year, Microsoft warned customers about a mining malware that can spread via e-mails and steal credentials easily to fetch security controls of the system.

Some reports claim that as a result of supply-chain constraints, their cloud computing systems have experienced significant capacity shortages in recent years. It is rumoured that the number of Azure data centres will continue to be restricted until the beginning of 2023.

## Joining the team

The Microsoft crypto mining ban means the company joins a large number of other cloud service giants, such as Google, which also forbid users from mining cryptocurrencies without first receiving written consent. Cloud mining is prohibited on some platforms, such as Oracle, while Digital Ocean also demands formal approval.

## Final word

Cloud mining is an alternate strategy for investing in cryptocurrencies that enables users to mine crypto assets without using mining hardware or equipment. Because customers don't have to pay for the equipment and associated fees, cloud mining is one of the most lucrative ways to mine cryptocurrency, according to the blockchain research organisation Blockchain Council.

Keeping all that in mind, it is always advisable to check for safer ways to start the mining journey with lots of research.



red image of microsoft logo. Crpyto coins in foreground

Microsoft Crypto Mining Ban on Cloud Services

New York State has made a landmark regulatory move under Governor Kathy Hochul. It has become the first American state to ban the [mining](/news/article/mining-company) of specific crypto tokens. These include cryptocurrencies that require extensive energy to be mined.

The Governor has taken the step to confront the [environmental problems](/news/article/environmental-cryptocurrency-concerns) caused by energy consumption.

## New York crypto mining ban 

On Tuesday, Gov. Hochul [signed the legislation](https://www.nysenate.gov/legislation/bills/2021/A7389) to enforce a temporary prohibition on energy-intensive crypto mining. Essentially, the cryptocurrencies included in this category are the ones that run on the Proof of Work (PoW) mechanism. 

The suspension of such activities is imposed for two years in NY. In this period, regulators will neither provide new permits nor renew any existing licenses. The ban is imposed under [Assembly Bill A7389C](https://www.nysenate.gov/legislation/bills/2021/A7389). 

The rationale behind this legislation is the high infrastructure and environmental costs of cryptocurrency mining. The bill also directed the NY State [Department of Environmental Conservation](https://www.dec.ny.gov/) to assess the impact of PoW on the environment. 

The department will prepare a report in a year to assess its impact across the state. It will then provide recommendations to improve future policies.

## What will be the repercussions of the ban?

Various American states recently introduced policies to support the digital asset industry. After [China's crackdown](/news/article/web-wechat-china-ban-nft) on virtual asset service providers, they saw it as an opportunity to attract them to the US. However, this bill has done quite the opposite and may affect the mining operations in the country. 

The timing of this ban is also critical in terms of the market condition. The crypto market is currently going through a rough winter. First, the [Terra Luna collapse](/news/article/terra-luna-collapse) and then the decline of the [FTX exchange](/news/article/ftx-vs-binance-liquidate-funds) have left the investors in shock.

Overall, there is extreme fear among traders who doubt the future of cryptocurrencies. In this scenario, a temporary ban on mining will further aggravate the situation for these digital assets.


New York Crypto Mining Banned

[BitMiner](https://bitminer.io/) is claimed to be a Bitcoin mining pool that provides its services for free. It claims to have mined more than 3,109 Bitcoins since its initial launch, which is quite an impressive feat in [Bitcoin mining](/news/article/free-bitcoin-mining). The platform claims itself as the "ultimate mining pool". In addition to the free version, it offers four different premium memberships.

The platform is listed under [“not recommended websites” by newsonlineincome.com](https://newsonlineincome.com/what-is-bitminer-is-bitminer-a-scam-noi/). This free [Bitcoin mining pool](/news/article/norway-bitcoin-mining) is the sister site of StartMiner, which itself is considered as a Ponzi scheme.

## Popularity

The affiliated websites that advertise the platform cause the site's popularity. 

Affiliate websites like [startminer.com](https://www.startminer.com/) and btcprominer.life run by the same business, BitMiner Cloud Eu LTD, bring in about 12.5% of visitor traffic. The majority of the other traffic comes from shady YouTube channels or false reviews with affiliate links that can be found on Google.

## Red flags

BitMiner generates a plethora of warning signs. The company's inability to pay its financial obligations and the fact that the site was created by the same scammer who developed StartMiner are obvious red flags. 

Enter "BitMiner reviews" into any search engine to find more alarming warning signs. You'll find many forum posts and articles alleging that investors haven't been able to withdraw their money.

## Conclusion

As per my research, BitMiner is probably considered a [scam](/news/article/bitcoin-doubler-scam). The website refuses to process withdrawal requests while the company behind the website is in financial distress. According to research, when the platform was first launched, it served as a legitimate [mining](/news/article/best-crypto-miner) pool operation. Several complaints were reported within a few months, mainly about the lack of withdrawals.

Withdrawal requests were initially dispersed when the site was first developed due to a steady stream of new depositors. However, as the stream of new depositors slowed, so did withdrawal request acceptance. So, it can be said, Bitminer is likely to be a ponzi scheme.




BitMiner: A Ponzi Scheme?

Etheremine, Ethereum’s largest mining service provider by computing power, switched off its servers on September 15th, 2022, after Ethereum transitioned from a proof of work to a proof of stake consensus mechanism.

The mining service has been in operation for seven years and mined 3,271,518 blocks and 9,836,656 Ether, announced on its Twitter page and [official website](https://ethermine.org/announcement). Its users would no longer be able to connect their miners to the Ethereum pool.

## The Merge

Ethereum’s transition to [proof of stake (PoS)](/news/article/pos-vs-pow), dubbed the [Merge](/news/article/ethereum-the-merge), was a highly anticipated event that had been in the works for a while. The Merge replaced miners with validators. The network now relies on validators to validate transactions and security.
Before the Merge, Ether mining had developed into a multi-billion industry. More than a million people across the globe with mining equipment worth over $10 billion had at a particular time mined Ether.

The process involved miners competing to solve complex mathematical problems to earn the block rewards. Only the first miner to solve the computational problems got the rewards. 

The need for expensive mining hardware and more computational power grew as the process became more competitive. It is this need that led to the existence of mining pools like Etheremine. 

The service aggregates computing power from a group of miners to increase the probability of winning Ether. The reward would then be distributed among miners based on their contribution. The pools charged some fees for their services.

## Staking Service

In anticipation of the Merge, in August 2022, Etheremine launched a staking pool for its users. The new service offered via BitFly enabled users to stake their Ether and earn interest on their deposits. 

Unlike other platforms, Ethermine allows users to invest as little as 0.1ETH and earn yields for lending. However, in terms of the service fees, the lower a user’s holding, the higher the fees.

The platform allows those who wish to participate in ETH staking and earn but don’t have the required 32ETH. 

Before its [Ethermine Staking](https://staking.ethermine.org/) service, the platform debuted [Ethpool](https://ethpool.org/), a solo staking platform that requires users to have at least 32ETH. At the time of writing, the platform has 469 validators and guarantees 5.5% APR.

It is worth noting that those who participate in ETH staking will not be able to withdraw their earnings until the Shanghai Upgrade, another major upgrade to the Ether network. However, a precise date for the Shanghai upgrade is yet to be determined.

Also, the Merge, though a highly anticipated event, was not a welcomed network upgrade for all ETH holders. A few coin holders wished to continue using the network as a proof of work mechanism. Ethermine has no plans to support the planned PoW forks.

Although the Ethereum network has stopped mining, users can continue to use the platform’s other affiliated servers to mine Ergo (ERGO), Ethereum Classic (ETC), Beam (BEAM, and Ravencoin (RVN).



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