Bitcoin Mining Operation Linked To Month-Long Blackouts Uncovered In Thailand
Portfolio Pulse from Aniket Verma
Authorities in Thailand uncovered an illegal Bitcoin mining operation linked to power outages. The operation consumed electricity without full payment, causing blackouts. This highlights the challenges of power-intensive Bitcoin mining, especially after the recent halving reduced miners' revenue.
August 26, 2024 | 9:00 am
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An illegal Bitcoin mining operation in Thailand caused power outages, highlighting the challenges of power-intensive mining. This comes amid reduced miner revenue post-halving, potentially affecting Bitcoin's market dynamics.
The news highlights the challenges faced by Bitcoin miners, especially after the halving event which reduced their revenue. While this specific incident in Thailand may not directly impact Bitcoin's price, it underscores broader issues in the mining sector that could influence market dynamics.
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