Corbin Keegan, a U.S. national who self-proclaimed himself as the first citizen of Bitcoin City, has temporarily left El Salvador after waiting over two years for the state to build the settlement. President Nayib Bukele first announced this infrastructure proposal for Bitcoin City in November 2021. He also explained that the settlement would be constructed […]
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Report: Bitcoin Mining Project Initiates Construction of Hydro-Powered Facility in Nigeria
A Nigerian startup named Trojan Mining is constructing a hydro-powered facility dedicated to bitcoin (BTC) mining in the African country, according to a recent report. Over the weekend, Trojan unveiled the creation of its mining container, locally produced and designed for a 500-kilowatt (KW) bitcoin mining site.
Startup Embarks on Hydro-Powered Bitcoin Mining Facility Project in Nigeria
A recent Forbes report by Abubakar Nur Khalil highlights that an African startup, Trojan Mining, is actively engaged in setting up a 500 KW bitcoin (BTC) mining facility. This past weekend, the team showcased their locally-built mining container, designed to accommodate 150 application-specific integrated circuit (ASIC) bitcoin mining units.
“Trojan Mining’s plan is to become the leading bitcoin mining farm in Nigeria,” stated the company’s CEO, Yassar Siyanbola.
The momentum for bitcoin mining in Africa is building, especially in remote areas where power availability is scarce. Despite ambiguous regulatory frameworks, African crypto miners are leveraging this technology to facilitate affordable and consistent electricity in rural zones.
Last year, Gridless, a Kenya-based bitcoin (BTC) mining firm, secured million in funding from Jack Dorsey’s Block and Stillmark. Siyanbola acknowledged receiving guidance from Rhodium Enterprises’ Marshall Long and Gridless.
Siyanbola and Trojan started with less than a dozen Innosilicon miners and a single Antminer S9 unit with a combined hashrate of 296 terahash per second (TH/s) dedicated toward the Bitcoin network.
The report notes that Trojan has another site planned that aims to be a 1-megawatt (MW) facility with help from partners. The startup’s website further discloses that Trojan also offers mining rig repair and bitcoin mining setup services.
Trojan’s website outlines the team’s strategy revolves around establishing a mini-hydro plant within five years or sooner. This will render the farm entirely carbon-neutral and independent of the country’s power grid, Trojan details.
What do you think about Trojan crafting a hydro-powered bitcoin mine in Nigeria? Share your thoughts and opinions about this subject in the comments section below.
State-backed Crypto Mining Farm under Construction in Russia’s Buryatia
A new crypto mining facility is being built in the Russian Republic of Buryatia with support from a government-affiliated company. Construction of the infrastructure for the large-scale project is already underway, carried out by a subsidiary of Russia’s largest mining operator, Bitriver.
Bitriver Building Large Data Center for Cryptocurrency Mining in Buryatia, Siberia
A 100-megawatt data processing center dedicated to the minting of digital coins will open this year in Buryatia, a Russian republic in south-central Siberia, the Russian Far East and the Arctic Development Corporation (KRDV) announced.
The price tag of the project is about 900 million rubles (over .3 million), the business news portal RBC reported, quoting a press release. The launch of the facility, which will host 30,000 mining machines, is scheduled for the first half of 2023.
Bitriver-B, a subsidiary of Russia’s mining giant Bitriver, has already started the construction of buildings, other infrastructure, and the supply of the necessary power equipment. The new enterprise will create about 100 jobs, the company said.
The bitcoin mining farm is situated in the village of Mukhorshibir, in the “Buryatia” Priority Development Area, a territory of the republic where a special legal regime has been established in order to facilitate entrepreneurial activities.
KRDV is a management company reporting to the Russian Ministry for the Development of the Far East and the Arctic and the President’s Plenipotentiary Representative in the Far Eastern Federal District. Its main task is to help investment projects in Russia’s Far East and the Arctic.
“Bitriver-B, which creates one of the most important enterprises for the digital development of Buryatia, has been provided with a wide range of government support tools. These are zero taxes on land and property, insurance premiums reduced to 7.6%, and a reduced income tax rate,” revealed Dmitry Khameruev, director of KRDV Buryatia. The bitcoin farm will also pay for the electricity it will use at almost half the regular tariff, the executive added.
The announcement of the major mining project comes after a report revealed last week that the total power capacity of Russia’s industrial mining farms exceeded 500 megawatts at the end of 2022. That’s despite the crypto market downturn last year and the negative effect of sanctions targeting the country’s mining potential as part of penalties imposed over the invasion of Ukraine.
Do you think Russia will support the building of more crypto mining farms in the future? Tell us in the comments section below.
ViaBTC Capital | The “Building Block” of Blockchain Progress: Infrastructure Construction
In the crypto world, distinguished institutional investors are always making forward-looking investments that foreshadow the next boom in the industry, which is why their investment targets have remained at the center of the spotlight. ViaBTC Capital, a crypto institutional investor founded just last year, boasts equally perceptive insights. StepN, a Move2Earn application it invested in last year, has become a successful example of gamified Web3 projects. Apart from applications, ViaBTC Capital has also been focusing on infrastructures. Since the beginning of 2022, we have prioritized investments in crypto categories that include new public chain infrastructures, Ethereum 2.0, new storage, and development tools.
The significance of investing in infrastructures
As Web3 applications such as DeFi, GameFi, SocialFi, and NFT flourish, blockchain ecosystems have also grown more diversified. New applications continue to drive up the market cap of the crypto world. Meanwhile, Web3 applications have kept on breaking the record set by Web2. For instance, projects including Compound, Uniswap, Synthetix, dYdX, Axie, and STEPN cover such categories as finance, trading, derivatives, games, reality, etc. Developers of decentralized applications (DApps) are going beyond blockchain infrastructures. They are obsessed with the development and innovation of DApps that yield high returns within the short term. This has led to problems such as high costs and difficult cross-platform operations, as well as terrible user experiences. As a result, institutional investors and users have adopted a wait-and-see attitude and are reluctant to embrace the blockchain space.
Always committed to ViaBTC Group’s vision of “being the infrastructure of the blockchain world”, ViaBTC Capital believes that only the constant progress of blockchain infrastructure could enable the advancement of blockchain in the long run. At the moment, underlying blockchain technologies and frameworks face many challenges, such as expensive gas fees, poor interoperability, difficult verification of data & index, and complicated development process.
The infrastructure portfolio of ViaBTC Capital
Among over 20 projects invested by ViaBTC Capital, 70% of them are infrastructure projects (tools included).
ViaBTC Capital focuses on infrastructures related to Ethereum, including Arbitrum (one of the most trending Layer 2 scaling solutions), Flashbots (an MEV infrastructure), Aurora (a NEAR-based EVM-compatible protocol), etc. These infrastructures provide more solutions for the scaling of the Ethereum ecosystem. Arbitrum, a Layer 2 infrastructure of Ethereum, has facilitated the extensive growth of the entire Ethereum network, enabling exponential improvement in terms of the speed and lower cost of transactions. Flashbots strives to build an efficient, democratized MEV market, which plays a critical role for Ethereum and even the whole crypto ecosystem. Aurora, a NEAR-based smart contract compatible with EVM, facilitates Ethereum’s scaling efforts and allows users to benefit from lower transaction costs.
Other infrastructures like DeFiYield (an innovative tool for managing digital assets) and BlockVision (a startup focusing on Web 3.0 data infrastructure) have also attracted much attention. DeFiYield features professional security protection, a huge Audits Database, and REKT Database. The project allows users to manage their digital assets and data on multiple chains/protocols in one stop with ensured asset security. DeFiYield is likely to become an essential infrastructure tool for all crypto users. BlockVision offers a series of APIs to make building and running blockchain queries more concise, straightforward, and accessible. It also features a development suite and visual statistics designed for developers, which makes development significantly easier. BlockVision now supports multiple chains, covering Ethereum, Arbitrum, BNB Chain, Optimism, Polygon, Fantom, and Avalanche.
ViaBTC Capital’s continued focus on infrastructure investments in 2022
- New public chains: The multi-chain universe has gradually arrived, and there will be vast growth prospects and huge market demands for new public chains. Meanwhile, Ethereum and EVM-compatible chains are also making fast strides. New public chains such as Solana, Avalanche, and Terra are all rising stars in the industry. ViaBTC Capital will continue to keep track of the progress of the new public chains, as well as their innovations in terms of the underlying architecture, consensus mechanism, and user demands.
- Ethereum 2.0: ViaBTC Capital believes that Ethereum may reshape the global financial system and become a platform for all decentralized applications in the future. As Ethereum upgrades to PoS, the Beacon Chain, Sharding, and Docking will all play vital roles. At the same time, infrastructures, facilities, and tools that focus on ETH 2.0 may stand out, and plenty of outstanding developers and projects will emerge, serving the whole ETH 2.0 ecosystem.
- New storage: Storage, an essential part of infrastructures, meets the demand for data storage of infrastructures and ecosystem projects. Driven by the boom of NFTs, GameFi, and new public chains, the market demand for decentralized storage solutions will see exponential growth. As such, the market urgently needs more established, efficient decentralized storage solutions that come with low costs and fast responses.
- Development tools: Development tools involve multiple dimensions, covering node deployment, validation, smart contracts, APIs, data index & access, etc. According to Electric Capital Developer Report (2021), the number of monthly active developers in 2021 exceeded 18,000, setting a record high. Along with the advancement of the multi-chain universe, the deployment of more DApps, and the introduction of more complex applications and contracts, the market will become more demanding for developers. We can therefore predict that developer-friendly development services will have great market prospects.
Though ViaBTC Capital’s portfolios cover multiple categories, the projects it invested in share certain common characteristics: they are ecosystem-friendly & visionary, with infrastructure potentials and advanced technologies. ViaBTC Capital will keep track of blockchain infrastructures in the long run and is heavily invested in the sector in terms of manpower and technology. It has provided innovative ideas for the improvement and revolution of blockchain infrastructures while offering constant assistance to first-class developer teams and quality projects. Such assistance is not limited to funding. Instead, ViaBTC Capital focuses on all-inclusive post-investment services, covering resource support, institutional resources, consultation about technology and business model, etc. In the meantime, it provides in-depth incubation services in terms of marketing, helping tech teams overcome their marketing shortage.
ViaBTC Capital respects developers who are committed to their ideals and provides them with substantial help. It is moving towards building the next generation of cutting-edge crypto infrastructures. ViaBTC Capital aims to create the building blocks for blockchain advance, and its investment in infrastructures might be how ViaBTC Capital paves the way for the blockchain industry.
* The above cannot be relied on as investment advice.
Turkish Construction Conglomerate Isiklar Group to Create Blockchain-Based Loyalty Platform, Token Sale Goes Live Soon
The adoption of blockchain technology and decentralized applications by mainstream industry segments doesn’t need any more introductions, as there are many glowing examples of Fortune 500 companies as well as startups in their respective spaces implementing such solutions to further optimize their processes. As the use cases for cryptocurrency technologies continue to grow, a more than 50-year-old Turkish company has now ventured into the space by creating a universal customer loyalty program over blockchain to benefit its long list of long term partners as well as newcomers interested in doing business with them. The company Isiklar Holding A.S. is a well-known name in Turkey’s construction industry as a supplier of materials and the customer loyalty platform they are building is called ISIKC.
Isiklar Holding is a multimillion-dollar public listed company in Turkey and with the ISIKC platform, they intend to offer their partners a much more uniform and transparent loyalty solution offering them benefits in the from of discounts based on the volume of business generated rather than depending on the duration of their association with the company. By doing so, Isiklar Holding will send a clear message to the partners that the company is committed to dealing with them in a fair and transparent manner.
Isiklar Coin
The ISIKC blockchain-based loyalty platform is built by a team of highly experienced professionals who are not only proficient in technology but also understand the highly competitive construction materials market. Like any other blockchain-based application, the ISKIC platform is fueled by its namesake Isiklar Coin that operates under the symbol ISKIC. The partners and dealers conducting transactions with the Isiklar Group will be earning these coins every time they order goods and services from them and based on their ISIKC coin holding pattern they get rewarded in the form of discounts on purchased materials.
As a part of the initiative to kickstart the ISIKC loyalty program, Isiklar Group is organizing token sales. With the initial presale phase going live on Monday, January 13, 2020, those who would like to become part of the initiative can purchase ISIKC at a low price of .2 per token. The sale is limited to 10% of the total coins.
Apart from its business, Isiklar Group also has a very active corporate social responsibility arm which is involved in philanthropic and community development activities. Continuing its tradition, the company has also pledged to donate 1% of total proceeds from the ISIKC private placement token sales to support Turgut Isik Education and Health Foundation which will use these funds to provide scholarships to students and aid the needy with healthcare support.
Overview of the Loyalty Program
The ISIKC Loyalty Program is a simple straightforward process where the benefits offered to dealers and partners in the form of discounts are directly related to the number of ISIKC tokens they hold and their contributions towards the annual turnover of Isiklar Group of Companies. The loyalty program is expected to apply across all the companies and subsidiaries that come under the umbrella of Isiklar Group, making it one unified platform spanning multiple business verticals of the Turkish conglomerate.
More information about Isiklar Group is available at – http://isiklarenerjiyapiholding.com.tr/
Learn more about ISIKC and Token Sale at – https://platform.isikc.io/ The post appeared first on NewsBTC.
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Former Soviet Metal Construction Plant Is Now Mining Bitcoin
n Bitriver hosts mining machines in the former worlds largest aluminum smeltern
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1 Gigawatt Bitcoin Mine Under Construction in Texas Would Dwarf Bitmains
The 0 million bitcoin mine could become the world’s largest surpassing Bitmain’s, whose own mega mining operation is in the same Texas town.
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Report Chinese Publicly Listed Construction Company Turned Mining Firm Lost Over $23 Million
n Over 90 percent of the value of a Chinese publicly listed construction company turned to cryptocurrency mining, Huatie, has been lost before the company has been soldn
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Trading Platform Paxful Completes Construction for Second School in Rwanda
n nn nn Children in the Rwandan village of Kasebigege are being given a greater chance to pursue a sound education as construction on a new school, developed by bitcoin marketplace Paxful, has been completed.Located in the Bugesera District, the school is a primary institution designed for children between the ages of 6 and 15. It’s Paxful’s second Philanthropic endeavor in the village, and construction was finished roughly one year after the company bui
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BitRent Company Implements Blockchain Technology in Building and Construction Industry
BitRent says that they aim to take the real estate market to a new cryptoeconomic level. The company plans to […]
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