Bitdeer Mining Insights

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Ukrainian cyber police have arrested a 35-year-old man from Poltava, accusing him of hacking an international hosting provider and using its servers for illegal cryptocurrency mining. According to a June 4 statement, the suspect had been targeting server vulnerabilities since 2018, eventually breaching over 5,000 customer accounts. He allegedly installed unauthorized virtual machines and crypto miners, engaging in cryptojacking without the victims’ knowledge.

Pakistan has designated 2,000 megawatts of surplus electricity for Bitcoin mining and AI infrastructure as part of its national digital transformation plan. Spearheaded by the Pakistan Crypto Council and backed by the Ministry of Finance, the move is expected to attract foreign investment and create high-tech jobs. In the second phase, the initiative will integrate renewable energy sources to support sustainable mining growth.

Michigan legislators filed four crypto-related bills on May 21 addressing digital assets in state retiree funds, the use of CBDCs, and Bitcoin mining at defunct oil and gas sites. One bill would allow the state treasurer to invest in cryptocurrencies like Bitcoin and Ether through exchange-traded products, while another prohibits state support for a federal CBDC or imposing licensing on crypto holders. The proposals signal growing legislative engagement with digital assets at the state level.

Canadian Bitcoin mining company POW.RE Holdings Limited plans to acquire Swiss bitcoin liquidity protocol Block Green AG in a deal combining equity, bitcoin, and cash. The merger aims to integrate POW.RE’s hydro-powered mining operations in Canada and Paraguay with Block Green’s financial tools for miners, such as revenue streaming and hedging. POW.RE will acquire 100% of Block Green’s shares, and commit hashpower to its marketplace. The acquisition strengthens POW.RE’s regulatory and market position, with both firms continuing operations in Montreal and Switzerland.

Three undocumented Chinese nationals were deported from Paraguay after being caught attempting to steal crypto mining machines from Teratech SA’s facility near the Itaipu Dam. The incident, which occurred in Coronel Bogado, also led to the arrest of a fourth individual. Prosecutors suspect the group may have ties to the facility as former contractors. Authorities believe the deported individuals entered Paraguay illegally via Brazil or Bolivia.