GEM mining
Bitcoin miners say NY ban will be ineffective and ‘isolate’ the state
Two Bitcoin miners have told Cointelegraph that if the bill banning Proof-of-Work mining for two years in New York becomes law, it would end up triggering an exodus of mining companies from the state and do little to address the intended goals of the moratorium. GEM Mining CEO John Warren told Cointelegraph on June 8 that he and other miners now view New York as an unfriendly place where they likely would not want to open up shop. “Miners won’t consider going there after the ban became part of the discussion.” Environmental sustainability has been at the heart of the New York state government’s argument against Proof-of-Work (PoW) mining. The controversial mining ban bill would prohibit any new mining operations in the state for the next two years. It would also refuse the renewal of ...
US Bitcoin miners expanding operations despite price volatility
Crypto mining operations based in the United States are committed to increasing their hash power with more hardware despite Bitcoin’s (BTC) three-month downturn. The Marathon Digital Holdings and GEM Mining companies in the U.S. told Cointelegraph this week that they each expect the size of their respective operations to grow through 2022 by at least doubling the number of machines at their facilities. Marathon Digital’s VP of corporate communications Charlie Schumacher told Cointelegraph in an interview that it is moving forward with plans to deploy 199,000 new machines by 2023 to secure what is “arguably the future of the global monetary system.” GEM Mining CEO John Warren said via email that it “plans to have 32,000 miners online by the end of 2022.” For Marathon, that would b...
