Alarming Study Suggests Bitcoin Consumes an Astonishing Amount of Energy and It's Only Getting Worse

It takes a lot of electricity to mine bitcoins, and as more miners try to cash in on the crypto craze, the amount of energy required to win new coins increases accordingly. New research suggests the entire bitcoin network could consume as much as 7.7 gigawatts of electricity by the end of this year—enough to power a…

Suspect In Bitcoin Mining Heist Who Broke Out of Icelandic Prison Realizes Icelandic Prison Ain’t So Bad

Everyone wants to go to Iceland to get that perfect selfie for their dating profile and briefly feel what it’s like to exist in an actual paradise. But last month, a man who is suspected in a heist of $2 million-worth of bitcoin mining gear only wanted to get out. After pulling off a daring prison break, however, he’s…

Chinese Police Confiscate 600 Bitcoin Mining Rigs in 'Largest Power Theft Case' in Years

Earlier this year, the Chinese government reportedly outlined plans to limit energy use by cryptocurrency miners and encourage their “orderly” exit from the industry. In the wake of intensified crackdown efforts, some of China’s largest miners opened operations abroad, but it seems at least one mining group tried to…

$2 Million Allegedly Stolen From Cryptocurrency Vlogger in the Middle of His Livestream [UPDATED]

Ian Balina, a popular cryptocurrency evangelist, was in the midst of a standard livestream on his YouTube channel on Sunday night when a viewer asked, “Ian, did you know that somebody transferred all your tokens from your account?” With $2 million worth of cryptocurrency gone from his wallet, Balina claims he was…

SEC Charges Founders of Cryptocurrency ICO Promoted by Floyd Mayweather Jr. and DJ Khaled with Fraud

Sohrab “Sam” Sharma and Robert Farkas were the operators of an initial coin offering that—according to a Securities and Exchange Commission complaint filed today in the District Court of Southern New York—fleeced investors out of more than $32 million though a business called Centra Tech. Inc. What led to Farkas’s…