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MineBest: The rising interest of Mining in North and South America

Team Bitcoin Daily

Published

3 years ago

on

It must be apparent to everyone already that some countries are more welcoming than others when it comes to cryptocurrency regulations. Regulations are a function of the nation’s government, but there is an asymmetrical distribution of interest in cryptocurrencies from one country’s population to another. There are various reasons for this disparity in engagement. Depending on how literate the population is, the geopolitical circumstances in the region, the monetary situation of the area, friendliness of the government on blockchain/crypto regulations, and a few other factors, we can see a clear correlation on the population’s interest in cryptos. 

However, when it comes to the interest in mining cryptocurrencies, factors that are contributing to a country’s interest are fewer. It generally comes down to 2 axioms: how cheap is electricity and how friendly the nation’s government is. Looking at these primary questions closely shows why there is a rising interest in crypto mining in the western hemisphere. Let us take a closer look at it.

Rising interest in cryptocurrency mining in South America

Bitcoin’s use case for protection against inflation was glaring in two of the largest South American nations, Venezuela and Argentina, both being in the top 5 countries with high inflation rates. Bitcoin along with other cryptocurrencies became popular in these countries as people scrambled to protect any value of their assets as they could when hyperinflation hit. 

People living in Venezuela were troubled because of the depleted currency and situation of high inflation. But in Venezuela, the energy is free, which means only luck and capital is required, and it can be a paradise for crypto miners. 

While many countries have seen growth in crypto mining this year, ultra-low utility rates and the resurgence of capital controls are helping increase gains for miners in the South American nation. Few experts think that it’s yet another instance of Argentines’ sustained capability to bend the nation’s heretical policies to their benefit. Highly subsidized power prices have also led to a mining boom in Argentina.

El Salvador became the first country to give Bitcoin legal tender status on June 9. Another Latin American country, Paraguay, has shown interest in adopting Bitcoins into its monetary ecosystem.

Rising interest in cryptocurrency mining in North America

While China remains a clear leader in Bitcoin mining hashrate share, this chart by Cambridge Centre for Alternative Finance shows that the USA is second. Some US companies believe that they can get some of the mining shares from China and the shift is accelerating. 

There is evidence for this belief. Foundry, a subsidiary of Digital Currency Group (DCG), a crypto conglomerate, recently announced it would spend $100 million on mining initiatives. Foundry has quickly risen to be a top 10 mining pool.

Canada with its naturally cold climate, favorable regulatory framework, and relatively cheap electricity is good for cryptocurrency mining. Hydroelectric plants in Quebec have been especially attractive sources of energy for miners, although the industry is not exclusive to that region. 

Few Chinese miners have begun shifting operations to the US and Canada to escape their home nation’s regulations and uncertainty. The influx of mining activities to these counties brings good news for employment. There are reports out already about mining companies creating jobs in rural America.

Another reason for the rising crypto mining activities in North America is the recent accelerated push towards renewable mining. Elon Musk added fuel to the Bitcoin energy debate, sparking a bearish trend in Bitcoin which it is yet to recover from. However, there is clear evidence that the miners have responded quickly to work towards the 50% renewable mining goal presented by Musk. 

North America may account for 10% to 15% of the global hashrate currently, but if the trend continues, we can see it push towards 25% of the market share. However, this shift in hashrate will only be possible by world-class infrastructure providers. MineBest, a global company founded in 2017 specializing in cryptographic computing activities, provides professional hosting services for both Bitcoin and Altcoins. 

Additionally, South America is  an emerging market for crypto entities, over the years the communities have shown great progress in adopting crypto and mining opportunities. Taking advantage of this mega trend, MineBest is exploring opportunities to expand their presence in the LATAM region and help achieve their vision of building data center facilities in various capacities for providing professional hosting services of mining equipment in South America.

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Press Release

Memecoin Madness: Eddie Seal Team Insults Investors and Returns Money from Presale

Crypto Chain Wire

Published

1 day ago

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May 17, 2024

By

Two weeks ago, the Eddie Seal memecoin project ($EDSE) began raising funds for development through a presale event. On Wednesday, a controversial post appeared on the project’s Twitter, where the team labeled the presale investors as ‘morons’.

“You morons. You invest in a presale of a new memecoin and then cry when someone runs off with the money. Get a grip and be careful because 99% of presales are scams. We have returned all the payments to the wallets from which they were sent. Eddie will proceed without a presale!” reads the tweet from Eddie Seal profile.

This incident is quite unusual, given market norms. Memecoins are not financial instruments, hence funds raised through presales are not regulated in any way. It is unprecedented for a project team to refund all investments made by individuals.

The refund might have been an attempt by the Eddie Seal team to build credibility within the crypto community, especially as Eddie Seal has announced six marketing rounds aimed at reaching a $1 billion marketcap. The campaign will culminate in an Eddie Seal cartoon, in the style of Rick and Morty or Family Guy. The six marketing rounds include sponsoring a Formula 1 team, a Harry Styles (or another top tier star) concert at Wembley with tickets for $1EDSE, a ‘spending money competition’ with 10,000 credit cards linked to one account, and a $3 million donation to MrBeast for spending in one of his videos.

It was also announced that the team plans to distribute part of the $EDSE tokens to the community gathered around the project in the form of an AirDrop. Sign-ups are expected to start soon.

The price of the $EDSE token in the coming days will reveal how the market has reacted. The token contract address for price tracking is available at eddieseal.org or listed here: 2Zvo6bnwJtyXhsPgbcfajTrEtB7NwrJhK8mMmtEXvHHc

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Press Release

WEMADE and WEMIX Win “Best Web3 Gaming” at MENA Games Industry Awards 2024

Crypto Chain Wire

Published

1 week ago

on

May 8, 2024

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WEMADE and WEMIX were honored with the prestigious “BEST WEB3 GAMING ” award at the MENA Games Industry Awards 2024. The awards celebrate the best of the region’s thriving gaming sector, and as the sole web3-focused award, the “BEST WEB3 GAMING” category spotlights companies championing the integration of web3 technologies into gaming.

“We are honored to receive this prestigious award. It validates Wemade’s commitment to fostering growth and collaboration within the global web3 gaming landscape,” Wemade said in a statement. “This award motivates us to continue empowering developers and driving innovation in game design & development.

Wemade would like to congratulate all of the finalists and winners at this year’s MENA Games Industry Awards. Their dedication and passion for innovation are shaping the future of gaming.

About Wemade

Wemade is at the forefront of the next wave of Web3 game developers that are innovating with blockchain technology. Based on the WEMIX3.0 mainnet, the WEMIX PLAY blockchain game platform is the world’s biggest with millions of users and a wide range of game genres from card, puzzle, simulation and strategy games; to first-person shooters, battle royale, MOBA, MMORPG, SNG, sports games and more. Visit www.wemix.com/communication for more information. 

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Press Release

Metarise: Unveiling the Future of Metaverse Interaction on M20Chain

Crypto Chain Wire

Published

2 weeks ago

on

May 3, 2024

By

Metarise is forging new paths in the metaverse landscape, building an immersive digital universe that blends high-quality, low-poly graphics with the robust capabilities of the M20 Chain blockchain, all powered by Unreal Engine. This innovative platform merges reality with virtual spaces to create an interactive environment where users can live, work, and play.

Vibrant Digital Ecosystems: Cityland and Funland 

At the heart of Metarise lies Cityland, the bustling urban core that serves as the central hub for commerce, art, and social interaction. With its vibrant streets lined with shops, showrooms, galleries, and more, Cityland is where creativity meets community. Not far from the urban excitement is Funland, a sanctuary of joy and entertainment, offering a retreat where users can engage in games, sports, and various leisure activities. Both these areas are anchored by the iconic Metarise Tower, a towering structure that stands as a testament to the possibilities of virtual architecture and the central node from which all activity in Metarise radiates.

The Role of Riser Token in Metarise 

The pulse of this digital universe is the Riser Token ($RIS), a metaverse utility token that facilitates not only commerce but also enables a variety of interactions and transactions within the Metarise ecosystem. From purchasing virtual land to trading goods and accessing exclusive services, the Riser Token is essential for navigating and leveraging the full potential of Metarise.

Empowering Users and Businesses 

Metarise is more than just a virtual space; it is a versatile platform designed to accommodate the diverse needs of individuals and businesses alike. Users can escape the monotony of traditional digital interactions and immerse themselves in a vibrant 3D environment that offers an enriched form of social connectivity. For businesses, Metarise provides a range of tools and spaces for virtual offices, allowing companies to maintain operations, host conferences, and interact with clients without geographical constraints.

Innovative Real Estate and Investment Opportunities 

One of the standout features of Metarise is its approach to virtual real estate. Through its Initial Land Offering (ILO), users have the opportunity to invest in virtual land, represented as unique NFTs on the M20 blockchain. This allows for the development of personalized real estate projects, from digital offices and private properties to commercial spaces, which can be further monetized through rentals or providing specialized services.

MetaRise is excited to announce the opening of our Initial Land Offering (ILO), a unique opportunity for early adopters to participate in the early stages of our expansive metaverse. This early phase of development offers potential for growth as the platform evolves, though it’s important to remember that all investments carry inherent risks and returns are not guaranteed. As you consider joining us in shaping the future of MetaRise, we encourage you to make informed decisions.

A Hub for Brands and Creators 

Metarise serves as a dynamic marketing tool for brands looking to enhance their identity and user engagement through immersive experiences. It’s a platform where brands can interact with their audience in meaningful ways, leveraging the unique capabilities of virtual reality, augmented reality, and AI to deliver memorable brand experiences.

Conclusion: The Future of Digital Connectivity 

Metarise envisions a world where digital and physical realities converge to create a seamless universe of endless possibilities. It’s not just about creating a space for users to interact; it’s about redefining the essence of community and connectivity. As Metarise continues to expand and evolve, it invites users from all corners of the globe to explore its myriad offerings, engage with its vibrant community, and contribute to the ever-growing expanse of this digital frontier.

Discover Metarise and step into a world where your digital life transcends boundaries, offering new ways to interact, explore, and impact the world around you. Join us on this journey to redefine the future of the metaverse.

Stay connected with us:

Metarise: https://metaarise.com/

Twitter: https://twitter.com/metariseworld

Instagram: https://www.instagram.com/metariseworld

M20 Chain Website: http://www.m20chain.com

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