Georgia is installing electricity meters in Mestia to combat illegal crypto mining straining the power grid. Vice PM Mamuka Mdinaradze stated illegal operations cost $9.5M annually and caused 13x higher consumption, leading to outages. Free electricity up to a limit remains for residents.
Rio de Janeiro police discovered a crypto mining operation with 30 computers powered by stolen electricity, potentially used by the Comando Vermelho faction for money laundering or movement. This setup highlights a model where criminal organizations convert illicitly obtained resources into digital assets.
Soluna Holdings saw a 58% year-over-year revenue increase to $9.4 million in Q1, driven by data center operations. However, net losses widened to $17.9 million, while crypto mining revenue declined amid industry pressures.
Shuttle Pharmaceutical Holdings (SHPH) has agreed to acquire United Dogecoin Inc. in an $11 million PIPE-financed merger, creating a publicly traded Dogecoin miner. The combined company plans to deploy 3,000 ElphaPex mining rigs within 60 days, targeting 43,200 GH/s hash rate—approximately 1.5% of global Dogecoin mining capacity. United Dogecoin CEO Ryan Trasolini will serve as co-CEO.
Uzbekistan has established Besqala Mining Valley, a special crypto mining zone across Karakalpakstan, under a presidential decree effective April 20. The framework allows registered mining companies to sell mined digital assets on foreign platforms while requiring proceeds to remain in Uzbekistan's banking system. The zone offers tax exemptions through January 2035 and permits mixed power sources including renewable, hydrogen and grid electricity, expanding on a 2023 rule requiring only solar power.
