Daily Archives: 12/07/2021

19th century power plant earns three times more from mining than selling electricity

Interesting results were summed up by a small hydroelectric power plant in Mechaniqueville, New York. It turned out to be three times more profitable to mine bitcoins using the generated energy than to sell it. The Mechaniqueville hydroelectric power plant is one of the oldest in the United States, built in 1897. Then it was mothballed, and in 1986 its activity resumed. According to the CEO of Albany Engineering Corp (AEC), which owns the station,…

The European Union will create an agency to combat money laundering through cryptocurrencies

The European Commission will form a new agency, the Anti-Money Laundering Authority (AMLA), to oversee the cryptocurrency industry in the European Union. The European Commission has proposed to create a new body, which will include the regulatory bodies of European countries. The AMLA is supposed to become the “central agency” in Europe that will monitor whether cryptocurrency transactions comply with anti-money laundering (AML) regulations. The department will also coordinate the activities of state supervisory authorities,…