Canadian mining company Bitfarms (BITF) reported annual and quarterly revenue growth of more than 428% and 33%, respectively. On March 28, BITF reported to the US Securities and Exchange Commission (SEC) on its results for the fourth quarter of 2022 and for the whole of 2022, announcing plans to expand capacity and increase project funding. Revenue for the quarter increased 33% to $60 million. Revenue for the year increased 426% to $169.5 million. Operating income

Representatives of the central banks of Singapore and Cambodia said that the popularity of cryptocurrencies among young people is pushing regulators to encourage state-owned digital currencies. At an event titled “China Conference: Southeast Asia,” representatives from the two countries’ central banks said they were interested in issuing central bank digital currencies (CBDCs). This was reported by the South China Morning Post. Central banks are motivated by the growing popularity of cryptocurrencies among young people. Representatives

The British regulator and the Massachusetts Institute of Technology (MIT) are conducting a 12-month joint study on the feasibility of launching a British state digital currency. On March 25, the Bank of England posted a statement of cooperation with the Massachusetts Institute of Technology on the development and issuance of the UK’s state digital currency. MIT’s Digital Currency Research Unit (DCI) has agreed on a twelve-month research project that aims to uncover the pros and

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Exxon Mobil Corporation is expanding a pilot program to use surplus natural gas from North Dakota oil wells to power cryptocurrency mining operations. The pilot program of oil giant Exxon Mobil to mine cryptocurrency through the use of natural gas accompanying oil production was launched in January last year. Oil fields in the US are one of the main sources of methane emissions, a by-product of oil production. Crusoe Energy Systems power plants solve this

The South Korean government will oblige cryptocurrency exchanges to disclose information about the sender and recipient of transactions in the amount of $820 or more, in accordance with the recommendations of the FATF. The Crypto Travel Rule issued by the International Financial Action Task Force (FATF) requires Virtual Asset Service Providers (VASPs) to disclose information about parties involved in transactions greater than $1,000. At the request of the South Korean government, all cryptocurrency exchanges in

The New York State Environmental Protection Agency approved a bill to ban the mining of Proof-of-Work (PoW) cryptocurrencies, including bitcoin, for two years. The bill was drafted under the auspices of the state’s Climate Leadership and Community Protection Act, which requires New York’s greenhouse gas emissions to be reduced by 85% by 2050. If the bill is passed by the New York State Assembly, the State Senate and signed by Governor Kathleen Hochul, then mining

Chinese Internet giants are changing the behavior of NFT customers in order to protect the industry from government interference. Alibaba and Tencent have officially updated their terms of service, The South China Morning Post reported. Alibaba-owned platform Jingtan has announced that it will report users using bots or other software to bulk buy collectibles. The platform will also alert the police to any users found to be arranging an exchange outside of the platform. In

The Bank for International Settlements (BIS) reported on the successful completion of an experiment on the joint work of the central banks of four countries. The BIS Innovation Center has completed a pilot project of the Central Bank Digital Currency Experimental Platform (CBDC) for international settlements. The central banks of Singapore, Australia, Malaysia and South Africa participated in the project. The platform, called Project Dunbar, aims to facilitate direct cross-border transactions between financial institutions using

Crypto Council for Innovation (CCI) CEO Sheila Warren believes that the technologies accompanying the digital yuan could undermine the hegemony of the US dollar. Sheila Warren, formerly head of blockchain and distributed ledger technology at the WEF, said the digital yuan will not be able to significantly impact retail payments in the US. However, she noted that the technologies accompanying China’s state digital currency could have a negative impact on the global dominance of the