Gold mining company decides to switch to bitcoin mining

After the announcement its share price rises by 1300%
04 December

Recent cryptocurrency hype has influenced a lot of companies all over the world. Now even regular mining companies are betting everything on blockchain and, sometimes, even succeeding.

Natural Resources Holding is an Tel Aviv-based mining company with main investments in land and mineral resources, such as gold and zinc. Their shares are publicly traded on Tel Aviv stock exchange and company is quite well-off. Now it seems, that the company has plans to broaden its scope by mining not only gold.

This announcement about supposed focus change galvanized the Israeli investors, making Natural Resource Holding one of the ten most traded by volume on Tel Aviv Stock Exchange. NRH share price has gone up by 1300%.

Right now NRH is negotiating to buy 75% of Canadian BACKBONE Hosting Solutions in exchange for 75% of their own shares. The Canadian company currently has four operational farms in Quebec, with two more to come online in 2018. BACKBONE claims to provide eco-friendly and cost-effective mining solutions for cryptocurrency mining by placing their hardware in northern regions, where cooling isn't a concern for better part of the year, and getting power from the local hydro-electrical power plant.

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.