Bitdeer Technologies Group has signed a lease agreement with the Monroe County Port Authority to secure an additional 570 megawatts (MW) of power capacity. This expansion brings Bitdeer’s total global capacity to 2.5 gigawatts (GW). Bitdeer Expands Power Capacity With New Partnership in Ohio Bitdeer, a Nasdaq-listed company, has leased land at the Hannibal Industrial […]
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Blockchain Basics Act Introduced in Ohio, South Carolina, and Mississippi
The Blockchain Basics Act, a series of regulations aimed at safeguarding people’s cryptocurrency rights at a state level, has been introduced in three more U.S. states: Ohio, South Carolina, and Mississippi. With this move, similar cryptocurrency regulation has been introduced in seven states and passed in Missouri. Blockchain Basics Act Regulation Reaches Ohio, South Carolina […]
Bitcoin News
Mawson Infrastructure Group Expands to New Bitcoin Mining Site in Ohio, Plans to Boost Hashpower by 1 EH/s
Mawson Infrastructure Group announced on Monday that the company has secured a new mining site in Corning, Ohio. The bitcoin mining firm, on May 1, 2023, unveiled its plans to set up its miners at the new location by Q3 of this year, with an aim to raise the operation’s hashpower by 1 exahash per second (EH/s).
Bitcoin Miner Mawson Acquires 24 MW in Ohio With Room for Expansion
On May 1, 2023, Mawson Infrastructure Group revealed it has signed an agreement for a new site in Ohio. This development comes on the heels of the company’s prior ventures in Pennsylvania and the decision to pull out of Australia.
The new mining site, located in Ohio, is expected to offer a starting capacity of 24 MW. Mawson, however, anticipates expanding its operations to harness an additional 26 MW of power, effectively bringing the total capacity of the site to 50 MW.
The mining company disclosed it already operates 240 MW of capacity in the surrounding area. “We are very excited to have finalized this new site acquisition. The addition of this site to our portfolio of assets in the region is a great achievement by the team reinforcing our revised strategy of focus in the PA/OH region,” Mawson’s CEO, James Manning commented.
Despite the expansion news, Mawson’s publicly-listed shares (Nasdaq: MIGI) have experienced a 5% drop in the last 24 hours and a 1.97% decline over the last month. Nonetheless, the statistics of the past six months reveal an upward trend in MIGI shares by 11.26%, and year-to-date, the shares have increased more than 107%.
Mawson’s initial plan for the Corning facility is to house 12 mobile data center (MDC) units and 7,056 miners. Both hosted and self-hosted machines will be deployed at the new mining location. Just prior to the Ohio announcement, in April, Mawson sold its Greenfield Texas sites for .5 million.
What do you think the future holds for Mawson Infrastructure Group’s expansion plans in the PA/OH region? Share your thoughts about this subject in the comments section below.
Authorities To Imprison A Man From Ohio For Defrauding $30 Million In A Cryptocurrency Scam
An Ohio man will be getting 20 years in prison for carrying out a cryptocurrency scam. Michael Ackerman has pleaded guilty to the crime and might be spending a long time in prison. According to the US Justice Department, the man pleaded guilty to the multi-million dollar cryptocurrency scam last week.
A Cryptocurrency Scam Worth Of Millions
Michael Ackerman planned and executed a cryptocurrency scam in 2017. This scheme promised to pay investors 15% on their investments every month. Even though the benefits were too dubious and impossible, many investors rushed in to utilize the opportunity.
The scam was called the “Q3 Trading Club,” a fund that used investor’s money to make the supposed profits to be shared as returns.
On September 8, 2021, a US attorney, Audrey Strauss from the New York Southern District, announced that Ackerman had pleaded guilty to the charges. According to Strauss, the man agreed to have caused the victims to lose above million in cryptocurrency assets.
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In the announcement, the attorney stressed that Arkerman agreed to have used his fake crypto scheme to steal millions from investors with the promise of 15% monthly returns.
In addition, Strauss also disclosed that Michael Ackerman used fake documents to deceive the investors. His balances showed more than 5 million in the fund. But the reality was just a little above million from the DoJ’s discoveries.
The attorney also revealed that Ackerman stole investors’ money amounting to million just to continue his lavish lifestyle. The man spent a lot of money on vehicles, real estate, personal security, traveling, and jewelry.
Michael Ackerman Agrees To Pay
The announcement also stated that Michael Ackerman has pleaded guilty to wire fraud. He agreed to pay back million and forfeit at least million in real estate, jewelry, cash which he acquired fraudulently. As for now, the sentencing will take place on January 5th, 2022.
The first charges came from the SEC in 2020. The crime was the violation of securities laws by Michael Ackerman.
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The reports then showed that he used a private group that he created on Facebook to target physicians. The group was called “Physicians Dad’s Group,” and the SEC discovered his fraudulent intent.
Michael Ackerman has never worked as an institutional broker in the New York Stock Exchange. Instead, he was operating as one of three scammers, including James, a Wells Fargo financial advisor, and another member, a surgeon called Quan Tran. In 2020 April, the victims of the incident sued Fargo for not investigating its employee.
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Ohio Treasurer Suspends Predecessors Bitcoin Tax Payment Service
A website launched last year by the U.S. state of Ohio allowing businesses to pay a range of taxes with bitcoin has been taken offline.
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US State of Ohio Suspends Service for Paying Taxes With Bitcoin
n Citing a possible regulatory issue with the program that allows Ohioans to pay taxes with crypto, state Treasurer Robert Sprague has suspended the servicen
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So Far, Only Two Businesses in Ohio Have Used Bitcoin to Pay Taxes
n nn nn According to a recent statement made by Ohios state treasurer, so far, only two businesses have filed their taxes in crypto using the states crypto tax payment scheme.Speaking at a forum organized by the Ohio State Associated Press on February 19, 2019,Robert Sprague fielded questions about the departments experiences with the newly launched bitcoin payment option for taxes, which was set up by his predecessor Josh Mandel in December 2018. Sprague, who ass
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Overstock Announces it Will Pay Some Ohio State Taxes Using Bitcoin
The post Overstock Announces it Will Pay Some Ohio State Taxes Using Bitcoin appeared first on DCEBrief.
US Retail Giant Overstock to Use Bitcoin to Pay Its Taxes in Ohio
n U.S. online retail giant Overstock.com takes advantage of new Ohio initiative, plans to pay taxes in Bitcoinn
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