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).



Ethermine switches off servers after Ethereum Merge

What is Infinity Token? It is a new cryptocurrency that seeks to revolutionize the world of digital payments. It offers several advantages over traditional payment methods, including faster transaction times and lower fees. But perhaps the most impressive thing about it is its unique proof-of-stake algorithm.

This algorithm allows users to earn rewards for holding Infinity Mining Tokens (IMT), which helps to secure the network and keeps inflation under control. In this blog post, we will explore the features and discuss why it may be the future of digital payments!

## Infinity Token: the future of mining  

[The Infinity Mining Token](https://www.infinityminingtoken.io/) is an ERC-20 token based on the idea of distributing hash power and Bitcoin rewards among miners through a network of shared mining hardware. The option to trade IMT for IHASH or simply speculate on the price will be available to stakers.
Mining a block requires your computer to organize recently completed transactions into chronological order in a distributed public ledger. The computer then generates a 256-bit hash value from the block. The block has been mined and broadcast if the value starts with a sufficient number of zeros. The greater the processing power, the greater the likelihood of receiving rewards.

The miner's responsibility is to set up and operate their [mining hardware and software](/news/article/sustainable-mining). Mining cryptocurrencies like Bitcoin requires a setup that allows for minimal overhead while maximizing hash-rate production. With the launch of Infinity Mining Token on August 6, 2021 (previously titled Infinity Token), the team set out to achieve complete decentralization in the mining process.

IMT developers worked closely with the Fair Token Project (FTP) during its initial stages. Token holders were eligible to receive 5% of the ecosystem rewards from the IMT and IHASH tokens, thanks to FTP. The total number of Infinity Mining Token holders is slightly over 800, and its market cap is $2.5 million.

The group is moving away from hosting bitcoin miners at a shared facility. The Infinity Mining community has successfully crowdfunded the purchase of 40 Application-Specific Integrated Circuit (ASIC) mining rigs using revenue generated from trading.

The IMT crew has also located a vendor who sells S19 PRO 100 models at a 20% discount from the original price. The group is getting ready to switch to a new growth model based on a new treasury system and an increased number of miners as we look to expand into new areas.
A representative staking platform will be a part of the Infinity Mining protocol. By exchanging IMT for IHASH, IMT owners can participate in staking and earn Bitcoin passively. Users can opt to stake a larger share of the hash rate for a more extended period.
A user's staked Bitcoin in the vault will grow by a small amount daily. IMT will be stored safely in a cold storage vault while you convert it to IHASH. There will be a 72-hour grace period during which the user can either keep their stake in place or remove it. Any unspent IMT tokens will remain in the cold storage facility indefinitely.

Like other Defi protocols and exchanges, the IMT staking platform will charge its users a fee. If users decide to un-stake their tokens before the end of the specified staking period, they will lose a certain percentage of their tokens yield.

The IMT speculates the price of ASIC mining hardware, and Infinity Token community members will guide on matters such as selecting a secure cryptocurrency wallet.



Infinity Hashpower Token: the future of Crypto?

Norway Bitcoin mining has set a precedent for the global mining industry. Now, only green and renewable energy is being used for mining in the country. [Arcane Research](https://arcane.no/research/bitcoin-mining-around-the-world-norway) indicates that Norway's 'flourishing' crypto industry relies 100% on green power resources, leaving almost no carbon footprints.  

The data shows that the country's Bitcoin mining makes up nearly 1% of the global hash rate. Contrastively, its population is only 5 million, which makes up only 0.07% of the world's population. Moreover, it is less than a tenth of the hash rate Norway is currently producing. 

Overall, sustainable mining of bitcoin rises to 59.5%, making Crypto Fear and Greed Index drop from “extreme fear” to “fearful”. 

## Which renewable resources do Norwegian Bitcoin miners use?

The electricity Norway consumes comes from different resources; however, most of these resources are renewable. That's why the country is able to limit its carbon emissions that are [harmful to the climate](/news/article/blockchain-energy-fud). Mainly, Bitcoin miners in the country rely on hydropower as it is the country's most used source of electricity. 

Besides hydropower, wind power is the second-most reliable source of power for Bitcoin mining in Norway. Also, as the country is a member of the European electricity system, it uses a small amount of foreign-produced electricity using different technologies and resources.  

If you consider these electricity stats, Norway is using only renewable energy. This poses an excellent opportunity for Bitcoin miners around the world. The author and researcher Jaran Mellerud also believes that the country's mining industry can further expand as its northern part has an abundance of cheap hydropower. 

## Utilising Bitcoin miner’s excessive heat

Norway Bitcoin mining is not only limited to using renewable power resources, but the country is also working on repurposing energy. A German company, Bluebite, has started its operations on Norwegian land and is working on utilising the by-product heat emitted by Bitcoin miners. Currently, the company is exploring different options like vertical farming of strawberries, drying timber, growing seaweed operations, or even supplying the heat to citizens. 



Norway Bitcoin mining now uses 100% green energy

## Bitcoin escapes extreme fear on the index following a rise in sustainable mining

On July 19, the Crypto Fear and Greed Index dropped from "extreme fear" to "fearful," scoring 30 out of 100. It has since risen somewhat to an index score of 31. The indicator is primarily calculated using market volatility, volume and dominance, social media sentiment, surveys, and search trend data.

According to Santiment, BTC's average funding rate on exchanges has reached its highest levels in the last two months as the price of BTC rises above $23,600, with five Fintech professionals at Finder and 53 industry experts predicting that BTC will [bottom out](/news/article/bitcoin-dip-over) at $13,676 before rising to $100,000 by 2025 and $300,000 by 2030.

## Sustainable mining bitcoin power hits 59.5%

According to reports, increased costs have driven increased [sustainable mining](/articles/our-news/sustainable-future), as indicated by a substantial rise in efficiency over the last eight years. As oil and gas energy prices increase and the cost of renewable technology decreases, it makes not only financial but environmental sense to engage in sustainable mining.  
Mining equipment demand has risen as prices rise, driving device innovation for cheaper alternatives. Efficient devices are more cost-effective and lucrative, pushing less profitable alternatives out of the market.

As per the Bitcoin Mining Councils BMC's Q2 review of the Bitcoin network, issued on Tuesday, the global Bitcoin mining industry's usage of sustainable mining energy is up 6% from Q2 2021 and 2% from Q1 2022,  [reaching 59.5%](https://www.investing.com/news/cryptocurrency-news/sustainable-bitcoin-mining-power-mix-hits-595-btc-mining-council-2849155) in the latest quarter, making it one of the most sustainable sectors globally. The council saw a rise in miners' energy mix correlated with an efficiency improvement. It was also discovered that Bitcoin mining accounted for just 0.09 % of the projected 34.8 billion metric tonnes of carbon emissions produced globally and required only 0.15 % of the global energy supply.

United States legislators are particularly interested in the condition of the country's Bitcoin mining energy use after they issued a letter to the Environmental Protection Agency and the Energy Department, requesting that mining businesses report on their emissions and energy use.


Sustainable mining of Bitcoin rises to 59.5%

Paraguay crypto bill that regulates cryptocurrency mining and trading within the country, has finally been approved by the country’s Senate.

The deputy chamber [approved the bill](http://www.diputados.gov.py/index.php/noticias/aprueban-con-modificaciones-proyecto-que-regula-la-industria-y-comercializacion-de-criptoactivos) but added some changes regarding electricity consumption in Paraguay. President Mario Abdo Benítez is now obliged to decide whether he will support, sanction or apply a veto to the bill.

Counting 7 million electricity users, Paraguay mostly depends on hydroelectric generation as the country also serves as a significant energy exporter. 

However, the electricity expenditure rose by over 100% in the last 12 years, while its generation is falling. The state power operator, Administración Nacional de Electricidad (ANDE), wants to urge a new consumption plan within the next few years. 

On the other hand, Paraguay’s central bank worries that the fact that cryptos are still not regulated as payment in the country could lead to halts in electricity consumption associated with crypto mining.

According to the bill, Paraguay’s Ministry of Industry and Commerce will be the governmental body that will regulate cryptocurrency-related services.

## Paraguay crypto bill tax excludes paying VAT

The bill, therefore, urges [crypto mining companies](/news/article/mining-company) to come up with a power consumption plan and present it to the national power body, which will be authorized to cut the electricity if the companies do not act according to these plans. Also, the bill defines that the payment for the power services is made in advance.

Furthermore, crypto miners won’t have to pay their VAT but are obliged to pay income taxes.
However, some lawmakers have shown their disapproval about the law's approval in its current form, with some calling for a presidential veto.

However, the bill was not approved easily. Senator Esperanza Martínez mentioned that the Guasu Front Bank did not comply with the project, adding that cryptocurrency is not an industry per se as it doesn’t process either raw material adding value, or employing people.

"Both versions are detrimental to the country," she said. 

Senator Enrique Bacchetta commented that he had voted for rejection at the time because this initiative did not produce jobs.




Senate approves Paraguay crypto mining bill

Crypto mining farms have attracted criticism as cryptocurrency mining has grown in popularity worldwide, with countries like China, Iceland, and Georgia leading the way. The major concern is energy consumption.

## What are Crypto Mining and [Crypto Mining Farms](/news/article/mining-farm)?

The practice of digitally adding transaction records to the blockchain, a publicly distributed database that holds the history of every transaction, is known as mining. Crypto mining farms bring together the equipment needed to conduct the process on a large scale.

Mining is a data-keeping activity that requires a lot of processing power. To ensure the payment network is trustworthy and secure, each crypto miner contributes to a decentralised peer-to-peer network. This energy-intensive process is a significant source of greenhouse gas emissions, especially from crypto mining farms.

Most people consider crypto mining to be nothing more than a method of manufacturing new currency. In fact, crypto mining entails validating crypto transactions and adding them to a distributed ledger on a blockchain network. Most crucially, crypto mining prevents digital currency from being spent twice on a decentralised network.

When a member spends cryptocurrency, the digital ledger must be updated by debiting one account and crediting the other, just like with physical currencies.

## How Does Crypto Mining Work?

Miners usually compete to prove their computational work in exchange for a block reward in cryptocurrency mining. A block with related cryptographic hash functions containing transaction data becomes available to the blockchain's P2P network after a sequence of transactions for a specific coin.

Competing pools of nodes employ high-performance computation to solve a challenging mathematical problem and validate the block's integrity. After successfully demonstrating the block's validity, the mining party cements the blockchain addition and earns the mining reward for allocating the pool.

The more problems solved, the greater the rewards, which is why crypto mining farms exist.

## How Can We Reshape Crypto Mining Farms with Renewable Energy?

[Renewable energy generation](https://sifted.eu/articles/renewable-energy-crypto-mining/) frequently produces surpluses that are wasted rather than utilised.

When solar panels or wind turbines generate more power than customers desire and the grids are overwhelmed, renewable energy is lost in large quantities. Today, wasting extra renewable energy is usually cheaper than storing it in standard Li-ion batteries. This is a typical attitude around the world, and it is neither cost-effective nor economically sustainable.

We must concentrate on energy production and consumption to slow the rise of carbon emissions and temperatures. The overall generation from renewable resources grows by 2.9% per year. As a result, renewable energy will account for 29% of global electricity output by 2040, up from 22% in 2012. While this forecast shows significant progress in higher renewable energy adoption, intermittency and excessive generation are expected to develop in lockstep. As a result, grids, investors, and consumers will face operational and financial issues.

As the modern energy map gets repainted with wind turbines and solar panels, we must look beyond existing financial structures to incentivise the shift. Cryptocurrency mining may be the solution.

Embracing innovative ideas, such as mining cryptocurrencies with excess renewable energy, offers enormous potential to close financial and technical gaps. It can transform waste into value while also lowering financial risks. In addition, the profits from this type of cryptocurrency mining could encourage a broader spectrum of additional investments in renewable assets.

Cryptocurrency mining can be considered an attempt to shift energy consumption into profit. Today, Bitcoin mining is primarily powered by electricity generated from non-renewable resources, which is less expensive than electricity generated from renewable sources.

The novel approach suggested here involves mining cryptocurrencies with sustainable energy and converting them into valuable coins to reduce emissions and costs.

Once renewable energy has been generated (by wind, solar, or other renewable ways), there are several possibilities for routing it, including:

1) Grid sale at the wholesale market price
2) If the grid is overloaded, the surplus is kept for later release when grid demand is strong and electricity prices are at their highest
3) Excess electricity could be used for cryptocurrency mining when demand for storage is low because batteries are completely charged or cost-ineffective vs. demand.

While the first two options are already in place and successfully monetise renewable energy assets, the suggested third option adds a new revenue stream to the mix.

The advantages of mining cryptocurrencies using excess green energy will turn waste into wealth and help cryptocurrencies become greener. In addition, using this strategy, there will be no carbon emissions for each block added to the chain.

## Conclusion

Renewable energy generation adoption continues to increase rapidly, but curtailment, transmission, consumption, and efficiency management remain chronic issues.

While this proposal does not detail the plan's interconnected components, it sheds light on the value that new technologies like blockchain can provide.

Perhaps the remedy to one technology's flaws might be found in another's strengths.


Crypto Mining Farms and Renewable Energy

Mining is one of a few ways to get cryptocurrencies. However, the demand and complexity of the process are why not many people engage in it. This article is going to explain what a [Hashfish Miner](http://hashmining.org/) is.

Crypto mining requires miners to have specific technical skills, hardware, and software. Mining rigs also need constant monitoring to ensure they are working efficiently.

The demand and complexity of crypto mining led to the rise of online systems that allow individuals to mine crypto without the need for technical expertise or a mining rig. Online systems like Hashfish Miner enable users to mine crypto with a single click of a button.

## What is Hashfish Miner?

Hashfish Miner is crypto mining software designed to ease the crypto mining process. The software enables anyone to mine cryptocurrencies. Users don't need any mining hardware or expertise to use the platform. It is a creation of Hashfish, a [blockchain technology](/news/category/blockchain-news) company founded in 2018.

### Some of the major features include;

•	Automatic mining: users simply need to download hashfish and start mining crypto
•	Instant withdrawals: users can withdraw their crypto mining earnings at any time
•	Dynamic algorithms: users can switch algorithms to profitable ones for higher yields
•	Access anytime: Hashfish Miner is accessible to users at any time of the day or night

The major selling points are its no-commission services and claims that members can earn $1.46 per day from their 1080Ti Graphic card. On its site is another claim about running over 300,000 PCs worldwide. 

## Is Hashfish Miner Legit?

Hashfish Miner appears, at first glance, to be legitimate. Any newbie can easily fall for what the platform is offering. However, a closer look into the platform reveals a different picture. Many who have reviewed or used it claim it is not legit.

A few things that can easily make anyone question the legitimacy of Hashfish Miner include;

## Guaranteed returns

Hashfish Miner promises members earnings of $1.46 per day. However, it does not explain how the daily returns are possible. Anyone who has been in the crypto space for even a little while knows there are no guaranteed returns, even when it comes to crypto mining.

## Hard to verify claims

Hashfish Miner is backed by information that can't be proved. Most of its claims, including that it runs more than 300,000 PCs worldwide, can't be verified.

## Negative reviews

While a few sites have positive words about Hashfish Miner, most have nothing but negative reviews. Many who have already used the platform claim its services are not legit. There is also very little information available about the crypto mining software, even on the web.

## Final Word

Hashfish Miner might appear like the real deal to many people looking to benefit from crypto mining without needing expensive mining hardware or expertise, but be careful.

The mining software has all the signs of a scam. Its guaranteed daily returns, negative reviews, and lack of transparency are just a few things that can make anyone think twice before using it.

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