Cryptocurrency mining is the process of validating transactions on a blockchain network and adding them to a public ledger. Miners solve complex mathematical problems using computational power (Proof-of-Work) to verify transactions. The first miner to solve the problem adds a block of transactions to the blockchain and earns a reward in cryptocurrency. This process ensures security, prevents fraud like double-spending, and introduces new coins into circulation. However, mining is resource-intensive and has significant energy demands.
Source: Shiraverse - How Cryptocurrency Mining Works

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Harsh Stance on Cryptocurrency Mining in Chechnya
Adam Delimkhanov, a lawmaker in the Russian State Duma, has warned that cryptocurrency miners in the Chechen Republic will be equated with terrorists starting in January 2025. This measure follows the decision to ban cryptocurrency mining in several Russian regions due to its high energy consumption and adverse impact on electricity stability.
According to Russian news outlet Tsargrad TV, Delimkhanov stated that as of January 1, 2025, cryptocurrency mining will be officially outlawed in Chechnya, and anyone caught mining will face severe penalties.
"We will equate them to terrorists because their actions harm the entire society," Delimkhanov declared, quoting Chechen leader Ramzan Kadyrov.
Impact of Cryptocurrency Mining on Electricity Stability
Delimkhanov emphasized that cryptocurrency mining could lead to significant issues with electricity stability, jeopardizing the daily lives of residents. Mining activities demand a substantial amount of energy to power mining systems, potentially disrupting electricity flows.
He warned that if mining activities cause power outages in regions, villages, or cities, Russian authorities will respond swiftly and prosecute those responsible.
Ban Extends to Other Regions
As previously reported, Russian Deputy Energy Minister Evgeny Grabchak announced that Bitcoin and other cryptocurrency mining would be prohibited in several key regions due to energy shortages. The ban will target both individual miners and mining companies operating in regions such as Dagestan, Chechnya, Donetsk, and Luhansk People's Republics.
During peak demand, the ban will also extend to areas in Irkutsk Oblast, Buryatia, and Zabaykalsky Krai. The energy infrastructure in these regions is not expected to handle the high demands of mining activities until at least 2030.
New Law Signed by President Putin Strengthens Regulations
The mining ban is part of broader regulatory measures under the cryptocurrency circulation law signed by Russian President Vladimir Putin. The law gives lawmakers the authority to ban cryptocurrency mining in specific regions. Additionally, it prohibits advertising for companies providing crypto services and introduces further restrictions to limit the spread of cryptocurrency infrastructure.
Summary
The Russian government has taken a hardline stance against cryptocurrency miners, with activities in Chechnya to be treated as terrorism starting in 2025. These strict regulations aim to protect energy systems' stability and prevent disruptions to residents' daily lives. This move is part of a broader effort to tighten control over the cryptocurrency industry in Russia.

#GlobalCrypto , #CryptoRegulation , #CryptoNewss , #CryptoMining , #BTC

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The Largest Mining Pool Addresses Transaction Error
Foundry USA Pool, the largest Bitcoin mining pool by hash rate, recently returned a transaction fee of 8.18 BTC, worth approximately $777,000. The fee was mistakenly overpaid during a transaction included in block 875475, mined on December 19. The error caused the fee to be 91,127 times higher than necessary.
Refund of the Overpayment
After identifying the error, Foundry contacted the sender and returned the overpaid amount following verification. The mining pool emphasized that this incident did not affect payouts to its regular customers. Their payment system excludes the three highest and three lowest transaction fees daily.
In an official statement on Twitter, Foundry stated:
“We have received numerous messages from across the industry and want to thank everyone who reached out on the user’s behalf. Please note that this decision was made after thorough consideration, and we will continue to address such cases individually.”
Similar Incidents in Recent Months
This is not an isolated case. In November 2023, the Antpool mining pool returned a $3 million transaction fee mistakenly paid by a user. That incident involved 83 BTC, which were temporarily frozen until the sender’s identity was verified.
Foundry’s Dominance in the Industry
Foundry remains the largest mining pool, with a hash rate of 273.6 EH/s, significantly outpacing Antpool, which has a hash rate of 146.7 EH/s. According to Hashrate Index, Foundry controls about 38% of the market share, while Antpool accounts for around 18%.
Foundry’s Layoffs
The refund comes shortly after the announcement that Foundry laid off 60% of its workforce as part of a restructuring strategy. Of the original 250 employees, around 160 to 170 were laid off, including entire teams focused on ASIC hardware repairs. However, mining pool operations remained unaffected. There are speculations that Foundry is exploring the sale of its operational team managing Bitcoin mining sites.
Summary
Foundry USA Pool continues to lead the mining industry despite recent layoffs and unexpected incidents with overpaid transaction fees. This case highlights the importance of thorough verification in Bitcoin network transactions.

#Bitcoinmining , #CryptoMining , #BTC , #blockchain , #CryptoInnovation

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The Not Pixel mining phase has officially wrapped up, and now it's time to gear up for the highly anticipated airdrop! To secure your spot, there are two key requirements you must meet. This guide will walk you through the process, with the second requirement: completing the TON Captcha task. Let’s dive in!
Key Requirements for the Airdrop
Collect 100,000 PX Tokens: Active engagement in the Not Pixel ecosystem is essential. Ensure you’ve gathered at least 100,000 PX tokens to qualify.Complete the TON Captcha Task: This is the more technical step, and we’ll break it down for you below.
What is the TON Captcha Task?
The TON Captcha task is a straightforward process involving a cryptocurrency transaction and code verification. Here’s the gist:
Send 0.1 TON to a designated address.Receive 0.05 TON back within minutes.Use the encrypted code generated by this transaction for airdrop verification.

Step-by-Step Guide to Completing the TON Captcha Task
1. Preparation
Ensure your TON wallet has at least 0.1 TON.Use any wallet that supports TON transactions, such as Tonkeeper or similar platforms.
2. Initiating the Transaction
Open your Not Pixel application.Navigate to the TON Captcha task section.Send exactly 0.1 TON to the specified address.Wait for the automatic refund of 0.05 TON.
3. Receiving the Encrypted Code
Within 10 minutes, you will receive:A response transaction from captcha.ton containing your encrypted code.A refund of 0.05 TON.
4. Verifying the Code
Access your TON wallet and locate the response transaction.Decrypt the received code.Return to the Not Pixel app and enter the decrypted code in the designated section.Submit for verification.
Tips for a Smooth Process
Sender Verification: Only the wallet that sent the 0.1 TON can decrypt the code.Patience is Key: The response transaction might take up to 10 minutes.Avoid Duplicate Transactions: Send only one 0.1 TON transaction.Track Transactions: Monitor your wallet’s history closely to ensure all steps are completed correctly.

What’s Next?
Once you’ve successfully collected 100,000 PX tokens and completed the $TON Captcha task, you’re officially ready for the Not Pixel airdrop! Keep an eye on the project’s official channels for announcements about the distribution timeline and additional details.
Final Reminder
The crypto world evolves rapidly, and project details can change. Always verify the latest requirements and instructions through Not Pixel’s official communication channels. Staying informed is your best strategy for success.
Have you completed the TON Captcha task yet? Share your experience and tips in the comments—let’s help each other navigate this exciting opportunity!
#Cryptocurrency #Blockchain #TON #NotPixel #Airdrop #CryptoMining #Web3 #DeFi #CryptoNews #BlockchainTechnology

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