Bitdeer Mining Insights

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Pakistan’s proposal to use surplus electricity for Bitcoin mining faces uncertainty after the IMF rejected a power subsidy plan. The IMF warned that subsidized rates for energy-intensive industries, like crypto mining, could destabilize the power market. Pakistan’s Power Secretary stated that major energy policies now require IMF approval, putting the country’s mining ambitions on hold.

The U.S. Senate passed President Trump’s “One Big Beautiful Bill Act” with a 50-50 vote, broken by Vice President JD Vance. Despite efforts from Wyoming Senator Cynthia Lummis to address double taxation for crypto miners and stakers, no crypto-related provisions were included. The bill drew criticism over healthcare cuts and lack of AI oversight.

CoreWeave has resumed acquisition talks with Bitcoin miner Core Scientific after raising a previously rejected offer. The Wall Street Journal reports a deal could be finalized in the coming weeks. Following the news, Core Scientific shares surged over 23%, with trading briefly halted. The company is now valued at approximately $3.6 billion.

Norway’s government is considering a temporary ban on crypto mining data centers to preserve energy and grid capacity. An investigation into miners’ energy use will begin this autumn. Officials may invoke the Planning and Building Act to enforce the ban, citing uncertainty over the long-term impact of crypto mining on national energy resources.

Despite new regulations enacted in late 2024, Russia reports that 70% of cryptocurrency miners remain unregistered with the Federal Tax Service. Ivan Chebeskov from the Finance Ministry said the goal of legal reforms was to bring the industry out of the shadows, but full compliance has yet to be achieved. Authorities plan to increase enforcement and penalties to encourage registration.