Cambodia will not Issue Its Own Cryptocurrency

A firm called Entapay issued a press release on March 2 announcing Cambodia is considering issuing its own national cryptocurrency
06 March 2018   750

Government of Cambodia shot down rumors that it would be issuing its own national cryptocurrency, despite international media coverage and a high-profile government official’s plan to attend an event organized by the company responsible for the claims.

A firm called Entapay issued a press release on March 2 announcing the Asean Blockchain Summit would be held at the Sokha Hotel in Phnom Penh tomorrow. The press release says that “following Venezuela's lead, other countries have been trying to issue a legal digital tender, including Cambodia”, and announces deputy prime minister Men Sam An as the event’s keynote speaker.

News of the summit quickly spread to multiple bitcoin-related news websites and was picked up by the UK-based newspaper The Telegraph, which said that Cambodia was “expected to follow Venezuela with plans for a national cryptocurrency.”

But representatives from the National Bank of Cambodia (NBC) and Securities and Exchange Commission of Cambodia (SECC) denied those claims today, saying that the government was not involved in the summit or with Entapay, and that there were no plans to develop a national cryptocurrency.

NBC's stance on cryptocurrency remains the same: we consider this to be a risky instrument and do not encourage the public to get involved, or do so at their own risk.

Chea Serey
General director, Central Bank

Sok Dara, deputy director general of the SECC, also said that his agency had never approved the project.

 

Giant Mining Solar Powered Farm to Created in California

Plouton Mining will allocate solar panels on 49 acres and it's planned they should generate about 10-13 megawatts per day, working for an average of 12 hours
26 June 2019   56

Plouton Mining, a subsidiary of Plouton Group Holding, intends to open the largest Bitcoin farm in North America for mining, whose operations will be provided by solar energy. To this end, the firm chose a territory in the western part of the Mojave Desert, California.

Plouton Mining will place solar panels on 49 acres: they should generate about 10-13 megawatts per day, working for an average of 12 hours. The company stressed that Western Mojave receives sunlight for 70% of the year.

The company will also sign the necessary contracts with local electricity suppliers in order to operate the farm in the absence of solar radiation.

Meanwhile, the bitcoin hashrate has again updated the historical maximum at 66.666 EX / s.