Canadian Hive Blockchain expands their operation to Sweden

Hive is placing a $110M Bitcoin mining farms in Northern Swede
12 January 2018   321

Hive Blockchain company was created in 2013 by Harry Pokrandt and Olivier Roussy Newton. The company's focus is, obviously, cryptocucrrency mining operations and blockchain development in collaboration with Genesis Mining and Fiore Group. Their current mining farms are located in Iceland. And now Candians plan to expand their mining operations to Sweden.

The reasons for choosing Sweden are pretty obvious to anyone who looks close enough. Cheap Swedish electricity is essential to make a higher profit and cold climate is a good bonus too, if you consider the cooling costs. But one of the main reasons lies in Swedish political climate. Rather liberal regulations allow for mining corp to expand their operations to be ten times bigger than current bitcoin mines located in Iceland. The favorable political situation is also a lot more interesting to investors and clients, who wouldn't have expressed the same interest if the farms were placed in China, for example.

Pokrandt also notes that now the timing is essential for mining. Right now the company is on the rise in stock exchange market, and have to ride the wave of their success, or be swiped under. So the Bitcoin ASICs will be delivered as soon as the construction of the data center is finished, and will be up and running shortly after that.

South Korea to Toughen Mining Chip Import Rules

Mining chips will have to meet legal requirement for importation, such as safety and sanitation certifications
19 April 2018   105

In South Korea, foreign-made crypto mining chips import rules can be complicated in the near future.

As reported by CoinDesk with reference to the statement of the Korean Customs Service (KCS) the government agency added mining chips to the list of goods that must meet certain criteria established by the current legislation for importation into the country, including certificates of security.

New requirements were introduced after the customs service discovered an increase in the number of mining chips imported into the country. So, in November and December last year, according to KCS, 454 mining chips were imported to the country for a total of 1.3 billion won ($ 1.2 million).

Since the mining devices consume a significant amount of electricity and produce a lot of heat, their operation is associated with an increased risk of fires.

To neutralize these risks, the service will monitor the safety of imported devices in accordance with the requirements established by the National Radio Agency.