Australia's first 5-megawatt green Bitcoin mining facility has received praise from the country's trade and investment minister and the mayor of the city of Whyalla. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Bitcoin mining in Australia is green
📍Australia's trade and investment minister has praised the country's first solar-powered Bitcoin mining facility. Australia has opened its first renewable-powered crypto mining facility in the city of Whyalla. This is a solar-powered Bitcoin mining facility with an operating capacity of 5 megawatts (MW).
Nick Champion, Austria's Minister of Trade and Investment, who attended the opening of this crypto mining center, said that cryptocurrency mining is the industry of the future. Meanwhile, the mayor of the city of Whyalla, Clare McLaughlin, said that new technologies are helping to create and strengthen a sustainable and healthy local economy in the city.
The company that developed this solar-powered crypto mining center has plans to expand its operations in the city, so it is building a second 10 MW mining center that will use the latest hydro-cooling technologies. This is in order to take advantage of the abundant natural resources in the area and make Bitcoin mining a much more efficient and environmentally friendly activity.
The metaverse will reach a value of $100.000 billion in China
📍JP Morgan analysts predict exponential growth for the Metaverse in China. Companies such as Tencent, Netease, Sony, Bilibili and Agora, among others, could explore the potential of the Metaverse and take its market to more than $100.000 billion dollars within the Asian powerhouse.
Despite China’s restrictions on cryptocurrencies and its strong regulatory scrutiny, companies in the country can still exploit the particular trends of the gaming industry and the metaverse to improve their competitiveness and grow their business models.
ECB works with external companies in the development of the digital euro
📍The European Central Bank includes Amazon and four other companies in its tests for the digital euro. Amazon and a group of four companies will work on developing user interfaces for the digital euro, the European Central Bank (ECB) announced in a statement. release, in which he explained that the objective of these interface prototypes is to test how well the technology behind a CBDC digital currency integrates with each of the prototypes developed by the selected companies.
In this test pilot, Amazon will be responsible for designing a prototype interface for e-commerce payments, while the other participating companies: CaixaBank, Worldline, EPI and Nexi will be responsible for designing, respectively, prototypes for online peer-to-peer payments, offline peer-to-peer payments, point-of-sale payments initiated by the payer and point-of-sale payments initiated by the payee.
The ECB announced that the five companies selected to participate in this prototyping phase for the digital euro are best suited to the needs and capabilities required by the bank for the design of its digital currency. The companies were selected from a group of 52 candidates, as a result of the call made by the ECB in April of this year.
SEC sets sights on Ethereum staking
📍Ethereum could fall under US securities laws over ether staking. According to The Wall Street Journal, SEC Chairman Gary Gensler has said that cryptocurrency staking on PoS networks and the intermediaries that provide this service to users and investors could trigger securities laws.
While Gensler did not directly mention Ethereum, the second-largest cryptocurrency by market cap changed its consensus protocol last week, becoming a PoS network. Under this consensus model, Ethereum could meet the Howey test and be determined to be a security in the country.
Ethereum will reduce global energy consumption
📍According to Vitalik Buterin, The Merge will reduce global energy consumption by 0,2%. Ethereum co-founder highlighted on Twitter one of the biggest benefits of Ethereum's The Merge.
While The Merge, the network's largest upgrade so far, won't reduce blockchain gas fees or increase scalability, it will help reduce the blockchain's energy consumption by up to 99,95%. Ethereum's consensus change, in turn, will help reduce global energy consumption by 0,2%, according to Buterin.
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