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- Bitcoin Practitioner Course By Henry Harvin Education - New Delhi |
- Here is how Indian techies are minting a fortune in bitcoins
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- Bitcoin might be a good investment but Bitcoin mining stocks aren't
Bitcoin Practitioner Course By Henry Harvin Education - New Delhi |
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Here is how Indian techies are minting a fortune in bitcoins
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Meanwhile, power stations have been deprived of natural gas due to intense consumption to heat private homes, leading plants to reportedly turn to lower quality, polluting fuel that has caused a thick layer of smog to blanket Tehran and other locations. Facing a cold spell that has caused a major rise in natural gas consumption, Iran is currently struggling to provide enough fuel to power plants to provide for more than 40, MWh of electricity demand.
Iran suffering from a massive power outage. Illegal Bitcoin mining likely to be blamed The Iranian police have confiscated some 45, bitcoin mining machines that were illegally using subsidised electricity. Power-heavy cryptocurrency mining and a shortage of natural gas have been blamed for outages and pollution amid the COVID crisis.
Mishra advises people not to mine until there are new regulations on cryptocurrency.
Bitcoin might be a good investment but Bitcoin mining stocks aren't
However, you can trade it. So he used an Indian jugaad skill a flexible approach to solve a problem and manufactured his machine in-house. But he faced the same problem of importing the equipment. Another crypto miner, Shantanu Sharma , said there is a growing black market of mining machinery in India.
The price of mining bitcoin in India varies from state to state. For example, the price of electricity is lower in New Delhi, but the cost of real estate there is skyrocketing. In other states, the price of land is low, but power cuts are a hurdle. In India , electricity is neither cheap nor expensive as, on average, it is between cents per kilowatt-hour.
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In Russia , it is 0. Dhir is using power generated by solar plants. The plants are installed in states like Madhya Pradesh and Himachal Pradesh, as both have a favorable climate and better infrastructure comparatively. He claimed that the solar-derived electricity is half the cost of officially-supplied power, at 0. Facing unfavorable conditions at home, some Indian miners have decided to set up abroad, with Armenia, in Central Asia, being one hotspot.
Dhir is seeking investment from Armenia, the United Arab Emirates and Tunisia, and claims the government in Yerevan has a better understanding of crypto mining than the one in New Delhi.