Mining

The Nigerian government said Monday it will revoke more mining licences of defaulting firms. Segun Tomori, the special assistant on media to the Minister of Solid Minerals Development, Dele Alake, disclosed this in a statement on Monday. According to the statement, Mr Alake disclosed this in his New Year goodwill message to Nigerians. “It will be recalled that we had revoked 1,633 mining licenses of those that defaulted in the payment of annual service fees last year. More revocation is in the offing for other…

Too Long; Didn't ReadNew year, brand new writing contest! Welcome to the Bitcoin Mining Writing Contest by GoMining and HackerNoon. This is your chance to share your Bitcoin Mining story in the month of January and win 1,000 USDT! You are encouraged to write a great piece on #bitcoin-mining, unravel its history, dissect its mechanics, and forecast its future! Too Long; Didn't ReadNew year, brand new writing contest! Welcome to the Bitcoin Mining Writing Contest by GoMining and HackerNoon. This is your chance to share…

A US bankruptcy judge has approved cryptocurrency lender Celsius Network's pivot to bitcoin mining, ruling that the company could deviate from a previously approved bankruptcy plan because creditors and customers were no worse off under the new restructuring.US bankruptcy judge Martin Glenn in Manhattan on Wednesday said the bankruptcy plan approved in November contained enough flexibility to allow Celsius to switch to a backup plan after it hit a road block with the US Securities and Exchange Commission. Elevate Your…

Too Long; Didn't ReadSmall modular nuclear reactors mining bitcoins for localities around the world could be the fastest path toward an energy transition. Bitcoin mining does not need the energy to be transmitted to any place, nor have it stored for later use, key challenges with scaling renewable energy technologies today. Small modular reactors are easier to build on an industrial scale, just like smartphones. Too Long; Didn't ReadSmall modular nuclear reactors mining bitcoins for localities around the world could be…

Arkon Energy, a data center infrastructure company, closed a $110 million private funding round to expand its operations, the company’s CEO Josh Payne shared exclusively with TechCrunch. The round was led by Bluesky Capital Management and included participation from Kestrel 0x1 and Nural Capital. The company launched in 2021 and began with a 5-megawatt site in Australia. It’s since grown to over 130 megawatts and has expanded into other countries and regions like the U.S. and Europe. “These sites appeal to both…

Akron Energy, a data center infrastructure company, closed a $110 million private funding round to expand its operations, the company’s CEO Josh Payne shared exclusively with TechCrunch. The round was led by Bluesky Capital Management and included participation from Kestrel 0x1, Nural Capital and Florence Capital. The company launched in 2021 and began with a 5-megawatt site in Australia. It’s since grown to over 130 megawatts and has expanded into other countries and regions like the U.S. and Europe. “These sites…

In a move that mirrors an Anglo American and Williams Advanced Engineering project from 2020, General Motors has partnered with Japan's Komatsu to develop a fuel-cell power module for the latter's 930E electric-drive mining truck.Komatsu currently has two 930E mining trucks in its fleet, each with a diesel engine running an electric drivetrain for up to 2,611 kW (3,500 hp) at 1,800 rpm and a 290-metric-ton (320 US ton) capacity or 2,013 kW (2700 hp) and 290 metric tons (320 US tons).Though manufacturers like Caterpillar…

The federal government, through the Ministry of Solid Minerals Development, is exploring collaboration with the World Bank to unlock financing and technical support for the development of the mining sector. Speaking during a courtesy visit to the minister, Dele Alake, on Monday, World Bank Country Director for Nigeria, Shubham Chaudhuri, expressed satisfaction with the renewed focus on the development of the nation’s mineral resources by the Tinubu administration. Mr Chaudhuri stated that with the preponderance…

A new study reveals the significant environmental impact of bitcoin mining on a global scale. The research shows how the energy mix of different countries defines their environmental footprint in bitcoin mining. It finds that bitcoin mining’s energy consumption is massive, with considerable carbon, water, and land footprints. The study highlights the varying impacts across countries, with China and the U.S. being the most affected. It underscores the hidden costs of new technologies and aims to inform decision-making…

GM and Komatsu said that as these mining vehicles usually operate at just one mine throughout their lifetime.General Motors and Komatsu said on Tuesday they will jointly develop a hydrogen fuel cell power module for the Japanese construction machinery maker's 930E electric drive mining truck."Mining trucks are among the largest, most capable vehicles used in any industry, and we believe hydrogen fuel cells are best suited to deliver zero emissions' propulsion to these…