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A New Country for Bitcoin Mining Officially Opens Its Doors

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A New Country for Bitcoin Mining Officially Opens Its Doors

A new ECOS data center with a capacity of 60 MW has been launched in Armenia. Full state support for the Free Economic Zone provides unique benefits and affordable electricity for mining.

In 2018, the Armenian government entrusted ECOS to create and manage a Free Economic Zone to support the development of high technologies and the blockchain industry in the country.

Today, the company maintains more than 250,000 users that use cloudmining and hosting services worldwide, and you can become a part of the ECOS mining ecosystem! An end-to-end infrastructure was built on the territory of the data center, including a service center, warehouses and regular supplies of spare parts, armed guards and staff of servicemen located on the territory 24/7.

ECOS data center receives an additional 60 MW of clean, affordable and stable electricity from high-voltage networks, which makes it possible to claim almost 100% up-time electricity.

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The new plot can accommodate more than 20,000 mining devices on an area of ​​2.2ha, with the potential to expand to an additional 200MW.

Moreover, the optimal temperature of this region allows to eliminate problems with overheating without additional expenses – the average annual temperature in Hrazdan is 4.8°C.

Also, we have to mention ECOS end-to-end service: The company takes full care and responsibility for the purchase of mining equipment from Bitmain, on behalf of our clients or simply helps to move from other data-centers to ECOS, the company’s employees test, install and maintain equipment 24/7 and you can watch and control your assets directly from the mobile app.

This is a really good opportunity to earn passive income with ECOS hosting and manage it with two clicks on your smartphone. Your earnings on mining are not so easy? Let’s check out all the benefits here.

“We have come a long way from legalizing mining in Armenia to launching our own energy infrastructure that is ready for scaling. We want to offer our partners simplicity in everything: from launching your mining business on our data-center to daily monitoring of the result in the application without leaving your home” — said Ilya Goldberg, managing partner of ECOS. — “Our bundled product is made to serve both institutional and retail clients from any part of the world.”

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Armenia patronizes the blockchain/mining sector and has allowed the creation of FEZ with unique conditions such as 0% income tax and 0% VAT, 0% import and export duties, 0% property and real estate taxes for the next 25 years, which allows our partners to receive maximum revenue on capital.

At present days due to the lack of stable and affordable electricity in the world and the constantly changing legal requirements, ECOS services are extremely relevant, the company said.

Crypto winter is coming to an end and now is the best time to start mining. Historically, it is most profitable to invest in cryptocurrencies during such periods. If you have not yet started earning on bitcoin mining, then start now with ECOS hosting!

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Report Shows Crypto Assets Record Steady Growth As Inflation Lowers

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Report Shows Crypto Assets Record Steady Growth As Inflation Lowers

The United States’ newest release on its inflation rate for July has created a celebration reason for many, especially the crypto sector. According to the Department of Labor publication, the July customer price index (CPI) report dipped to 8.5%. This was against its last year’s value of 9.1%.

With the report’s release, many people have expressed their recommendations for the Biden Administration and their shock. Some confessed that they have expected to see a spike in inflation due to some of the prevailing factors at the moment. They mentioned that the ongoing Ukraine-Russia war and price increase in goods were expected to play a role.

US President Joe Biden has reacted to the great news of the CPI report. Commenting from the White House, he maintained that the news shows that the economy ran with zero percent inflation for July.

President Biden further mentioned that their approach to controlling inflation yields positive results. Hence, he encouraged Congress to pass the inflation Reduction Act. This will help to build an economy that would reward hard work.

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In the past six months, the US reported a negative GDP value for the two quarters of the year. Inflation also rose within the period, as indicated by the high-priced economy.

The report pointed out the monthly energy cost reduction that hit 4.6%. The value contradicts that of 2021, which gave a climbing curve to be at 32.9%. On the part of food expenses, there is a continuous uptrend.

The report recorded an 11% increase for July and a 10.9% rise on a year-over-year basis. Pundits reported that this value stands as the highest surge since May 1979.

Cryptocurrency market trends downwards | Source: Crypto Total Market Cap on TradingView.com

Gasoline prices dipped by 7.7% monthly to give drivers a little aid. However, it remained higher than the value for 2021 by 44%.

Crypto Market Followed An Uptrend

In a new development, the crypto market is making positive progress in price and value. However, the crypto space has been in shamble due to the impact of the crypto winter and other combining factors.

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In addition, the geopolitical climate and macro influences had been quite unfavorable. As a result, bitcoin and most major crypto assets experienced drastic price drops over the first half of 2022.

While expecting the CPI July report, many cryptocurrencies dropped on August 9. On its part, BTC plummeted by 4% to trade at $23,100. This sudden downward move was after it hit the $24,000 level as of Monday. For Ethereum, the drop went below 5%.

But the market prices are making a bounce with most assets moving uptrend. For example, while Bitcoin has climbed above $24,200, Ethereum is increasing slightly beneath $1,900 at the time of writing.

Featured image from Phemex, Chart from TradingView.com

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Leading European Tire Retreader Vaculug To Accept Crypto Payments

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Leading European Tire Retreader Vaculug To Accept Crypto Payments

Vaculug, a British company that brands itself as Europe’s largest independent tire retreader, will now accept cryptocurrencies for its products and services. Its management says the business must move with the times and offer customers more options than pounds and pence.

Vaculug to Take Major Coins, Offer Contracts in Cryptocurrency

U.K.-based tire retreading firm Vaculug has announced it will accept two leading cryptocurrencies, bitcoin (BTC) and ethereum (ETH) as a means of payment for tires and related services. The company claims it’s the first in the industry to do that.

In a press release, Vaculug also revealed it intends to sign fixed price contracts in ‘crypto per kilometer’ and ‘crypto per vehicle’ formats, if customers would like to fix or link them to the prices of the two supported cryptocurrencies.

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Blockchain is not the future but the now, says Vaculug’s IT manager Jason Humphries. “We believe that all companies will have to accept cryptocurrencies in the near future and we are proud to be the first retreader to do so,” he commented.

Humphries thinks the company, which he describes as customer-centric, must move with the times and offer clients “more options than just pounds and pence.” He also insists that crypto payments will lower transaction costs for both sides while providing more value to the buyer.

“We are proud to have partnered with Vaculug to develop the modules required for their industry leading VMS management system to be able to receive secure payments through the blockchain,” said Sam Dunross, the CEO of Dunross and Chan Ltd. which will process the crypto transactions. He added that its platform has been developed with cybersecurity firms from Israel to ensure it’s secure.

Despite the latest crypto market downturn, the number of businesses introducing bitcoin payments has continued to grow. For example, Swiss luxury watchmaker TAG Heuer announced earlier this year that it accepts a dozen coins in the U.S. through an integration with Bitpay. And a survey conducted by financial services firm Deloitte and payment processor Paypal showed that 85% of merchants consider enabling this payment method a high priority.

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Bitcoin, BTC, Crypto, crypto payments, Cryptocurrencies, Cryptocurrency, Cryptocurrency Payments, ETH, ether, Ethereum, Europe, Payments, retreader, tire, tire retreader, tires, uk, Vaculug

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Do you expect increased adoption of crypto payments after this month’s relatively positive developments in the markets of major coins like bitcoin and ether? Tell us in the comments section.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits: Shutterstock, Pixabay, Wiki Commons, celio messias silva

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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EU Parliament’s Rapporteur On MiCA Crypto Law Stefan Berger Sells Pair Of Slides As NFT

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EU Parliament’s Rapporteur On MiCA Crypto Law Stefan Berger Sells Pair Of Slides As NFT

“Freedom in a wallet” is how Member of European Parliament Stefan Berger describes the non-fungible token (NFT) he is now selling on Opensea. The NFT represents a pair of ‘Bergoletten’ slides. Shoes symbolize the first step in every development, says Berger who invested efforts in making sure Europe’s upcoming crypto legislation gets the backing of his colleagues.

European Lawmaker Auctions NFT Slides on Opensea

Stefan Berger, the German member of the European Parliament (MEP) who was tasked to facilitate the progress of EU’s Markets in Crypto Assets (MiCA) regulatory package, has come up with a summer initiative to promote tokenization, something “as groundbreaking for the world as the introduction of the stock market was in the 17th century.”

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In late July, the member of the group of the conservative European People’s Party urged his followers on Twitter to join an auction on the NFT marketplace Opensea. “My NFT is out now,” Berger announced in a post about the sale which ends on Monday, Aug. 15. “For me, this NFT is a piece of digital freedom in a wallet,” he wrote in the tweet.

The Bergoletten NFT, which he claims to have designed, represents a photo of a pair of men’s slides, one of which is branded “#bergo” and the other one – “ropa.” The Bergolettes are the optimal summer gadget and were chosen as NFT-motif because every great development begins with a first step, the seller explains on his website, vows to spend the proceeds on swimming promotion, and elaborates:

What was tradable yesterday is tokenized on the blockchain today. Yesterday, you wore bathing shoes on your feet, today you carry them in your wallet – in the form of this NFT.

EU Mulls Treatment of NFTs Under MiCA Regulations

Stefan Berger’s NFT stunt came after a significant advance towards the adoption of the pan-European crypto regulations. In early July, the key participants in the Union’s complex legislative process – the Parliament, Council, and Commission – made a deal to implement MiCA across the 27-strong bloc.

Berger played a role for a decision to drop a controversial proposal to prohibit the provision of services for coins relying on the power-hungry proof-of-work (PoW) mining algorithm from the draft. The texts, which would have amounted to an effective ban on cryptocurrencies like bitcoin, the minting of which requires a lot of electrical energy, sparked negative reactions from the continent’s crypto space.

The agreement did not cover NFTs, “except if they fall under existing crypto-asset categories,” officials in Brussels stated at the time. European institutions now have to decide if separate regulations are needed for the tokens. This type of crypto assets, also referred to as ‘digital collectibles,’ have various applications, including to store digital records on a blockchain and prove authenticity and ownership of artwork, for example.

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According to a recent statement by Peter Kerstens, adviser to the European Commission on technological innovation and cybersecurity policy, EU legislators “take a very narrow view of what is an NFT.” Quoted by Coindesk a few days ago, he suggested that many NFTs will be treated just like other digital currencies.

Speaking during the Korea Blockchain Week, Kerstens elaborated that if a token is issued as a collection or as a series, even though the issuer may call it an NFT and each individual token in that series may be unique, European regulators will not consider it to be a non-fungible token. This means that the requirements for cryptocurrencies will apply for NFTs as well.

Tags in this story

Auction, Crypto, crypto assets, Crypto markets, Cryptocurrencies, Cryptocurrency, EU, Europe, european, European Parliament, European Union, initiative, lawmaker, Legislation, MEP, MiCA, nft, NFTs, Non-fungible tokens, Opensea, package, Promotion, Regulation, Regulations, sale, slides, Stefan Berger, tokenization, Tokens

What future do you expect for non-fungible tokens in the European Union? Share your thoughts on the subject in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits: Shutterstock, Pixabay, Wiki Commons, Vach cameraman; Stefan Berger

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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