Bitfury to set up largest mining centre in North America

Hut 8 Mining corp. and Bitfury will set up largest Bitcoin mining datacenters in North America
05 December

Hut 8 Mining Corp. announced on Monday that it has partnered with the Bitfury Group to acquire, install, maintain and operate North America’s largest bitcoin mining datacenters.

Hut 8 is a bitcoin mining company led by CEO Sean Clark that gives shareholders access to the price appreciation of bitcoin and the emerging blockchain economy.

We are excited to partner with Hut 8 to expand our activities in the strategic North America market. We believe there is a tremendous opportunity to establish North America as one of the most important crypto-currency mining hubs in the world.

 

Valery Vavilov

CEO, Bitfury

Under the partnership, Bitfury will provide to Hut 8 a bitcoin mining solution comprised of a proprietary mix of hardware, software, installation and operational services.

Hut 8 intends to scale rapidly during 2018 with installed capacity set to exceed 60 MW. Hut 8 also maintains the exclusive option to get additional datacenters from Bitfury in North America.

Now, Hut 8 is offering approximately 13,200,000 shares on a private placement basis through GMP Securities L.P. Investors have the option of purchasing shares in this private placement round with bitcoin.

Venezuelan miners must register with authorities

Registration for miners is the first step of big legal framework for cryptocurrencies in Venezuela
14 December

Due to hyperinflation and financial crysis, cryptocurrency and mining had become very popular in Venezuela. And as we all know, when cryptocurrency becomes popular in any country, governments always try to regulate, as they see it. Venezuela is not an exception. 

The Venezuelan government is working on the legal framework to tax and regulate cryptocurrency mining. As a first step, it is trying to create a detailed registry of the country's miners. Carlos Vargas, recently appointed as the first "superintendent of Venezuelan cryptocurrency" by President Nicolás Maduro, announced the plan at a press conference on Tuesday. This is reported by the Crypto Noticias. 

We want to know who they are, we want to know where they are, we want to know what equipment they are using. 
 

Carlos Vargas

Venezuelan Government

Additionally, Venezuelan police have continued arresting cryptocurrency miners.

On December 9, a police team raided a warehouse in the city of Barquisimeto, seizing 21 mining computers and arresting 31-year-old Daniel Andrés Di Bartolomeo Viloria. He was accused of money laundering, illicit enrichment, computer crimes, financing terrorism, exchange fraud, and damage to the national electric system.

Digital currency is not endorsed by any banking institution in the world nor has it been approved by any country. The currency is being marketed with legal appearance but in essence it operates in secret.
 

Venezuelan Police Statement

Proponents of the new registry say it will create a way for bitcoin miners to operate with legal protections.