Bitcoin miner Bitdeer signed a 16-year lease valued at up to $4.7 billion to provide 121 megawatts of IT capacity for AI workloads at its data center in Tydal, Norway, to a Volta Infra subsidiary.
A raid in Malaysia revealed how cryptocurrency mining is increasingly linked to electricity theft and organized crime across Southeast Asia, causing billions in losses for utilities and prompting governments to enhance enforcement and legislation.
Kazakhstan approved a new framework for large-scale crypto mining, linking electricity access to contributions to a state-backed digital asset reserve. Strategic miners must meet strict infrastructure requirements and transfer part of their mined crypto to Astana Hub.
The SEC charged Zan Shaikh and Bright Vision Distribution LLC (Mining Automatic) for allegedly defrauding over 380 investors of $22 million in a crypto mining scheme, diverting most funds for personal use and marketing. The FBI is also seeking additional victims, expanding the scope of the investigation.
The SEC has sued crypto mining firm Mining Automatic and founder Zan Shaikh for allegedly defrauding over 380 investors of $22 million. The company reportedly spent only 13% of funds on mining, using new investor money to pay purported returns, exhibiting hallmarks of a Ponzi scheme.
Malaysian authorities have seized over 75,000 crypto mining machines in more than 3,000 raids between 2022 and May 2026. The operations, involving police and the national utility, led to 629 arrests. While crypto trading is legal, mining using stolen electricity or tampered meters is not.
A bill in Congress, H.R. 9175, aims to defer taxes on crypto mining and staking rewards until sale, addressing a cash-flow issue that pushes businesses offshore. While it offers tax relief, it doesn't solve infrastructure challenges for Bitcoin miners.
Thailand's Department of Special Investigation (DSI) is widening its crackdown on illegal crypto mining operations, which it alleges are used as a laundering machine for Chinese-linked crime syndicates. The probe targets illicit funds exceeding 10 billion baht ($300 million) annually, stemming from call-center scams and online gambling.
Crypto industry groups are pushing Congress to pass a tax bill that would exempt mining and staking rewards from taxable income. House Democrats are skeptical, fearing it could unfairly favor crypto over traditional investments, and prospects for the bill's passage this year remain uncertain as midterms approach.
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.
