Tag Archives: Iceland

Iceland: Figurehead in Bitcoin Miner Heist Jailed for More Than Four Years

An Icelandic man has received a four-and-a-half-year prison sentence for stealing Bitcoin mining equipment, local English-language news outlet Iceland Monitor reported Jan. 17. Sindri Þór Stefánsson, who in April 2018 boarded a flight to Stockholm from Reykjavik reportedly with a stolen passport, was subsequently arrested in Amsterdam and returned home. Stefánsson claimed he legally fled custody to Sweden.… Read More »

‘Big Bitcoin Heist’ Ringleader Jailed for Massive Crypto Mining Rig Theft

The “Big Bitcoin Heist” perpetrators have finally been brought to justice in Iceland. | Source: Shutterstock By CCN.com: Suspects in the “Big Bitcoin Heist” of 2018 have been sentenced to various prison terms based on their level of involvement in the much-publicised theft of more than three-quarters of a million dollars worth of crypto mining equipment. Crypto Mining… Read More »

Iceland: Draper Associates Leads $5 Million Funding Round for Blockchain-Based ID Platform

Iceland’s blockchain-based identity verification platform Authenteq has raised $5 million in a funding round led by Draper Associates and Capital300, the American tech website VentureBeat reports on Jan. 14. Following the two-week funding round, the company revealed its intention to conduct the second closing of the Series A financing for additional investors in the coming weeks. The latest… Read More »

ConsenSys Backs Icelandic Startup Co-Founded by Ex-Chair of Country’s Central Bank

Ethereum (ETH) blockchain startup and incubator ConsenSys has participated in a $2 million seed funding round for Iceland-based blockchain startup Monerium, according to a press release from the firm, published Jan. 11. The startup counts the former chairman of Iceland’s central bank among its four founders. The funding round was reportedly led by Icelandic venture capital fund Crowberry… Read More »

Central Bank Veteran’s Blockchain ‘E-Money’ Startup Raises $2 Million

Ethereum development studio ConsenSys has participated in a $2 million seed funding round for Iceland-based blockchain startup Monerium, the firm announced Friday. The round was led by early-stage venture capital firm Crowberry Capital and included participation from private investment firm Hof Holdings, both also based in Iceland. Founded in 2016, Monerium is a fintech startup led by, among… Read More »

Coinbase Expands Trading Platform Across Six Additional European Markets

Advertisement Lithuania, Gibraltar, Iceland, Guernsey, Andorra and the Isle of Man now have Coinbase as an option. Coinbase has announced news it has launched its services across six additional European markets as part of an aggressive expansion. The market-leading crypto exchange is planning a more aggressive approach in 2019 by pushing the boundaries in exciting new global markets.… Read More »

Wasteful? Iceland Farmers Says Bitcoin Mining is ‘Too Good to Be True’

A relatively small cryptocurrency mining operation in Iceland has come up with a simple, yet effective solution cryptocurrency mining’s electricity issues. It uses excessive geothermal energy from farmers’ machines to power up the mining equipment in a win-win situation. Farmers to the Rescue A relatively small cryptocurrency mining operation run by Icelandic math teacher Krista Hennesdottir uses a clever… Read More »

Crypto Cooldown: Iceland’s Bitcoin Miners Turn to Blockchain Enterprise

Advertisement Iceland has long been a prominent hub of bitcoin mining due to 98% of its electricity coming from renewable geothermal energy and a cold climate favoring mining farms which must be kept cool can run massive air conditioning bills in warmer areas. The power usage effectiveness (PUE) of the country is as low as 1.03, almost twice… Read More »

Iceland’s Industry to Shift From Crypto Mining to ‘Pure Blockchain Business,’ Insiders Say

Iceland’s crypto industry is expected to move away from crypto mining and shift to “pure blockchain businesses.” This is according to forecasts made by a number of local industry insiders who talked to the news site Red Herring September 23. Halldór Jörgensson, chairman of Reykjavik-based Borealis Data Center, told Red Herring that demand from local crypto and blockchain… Read More »

Mining Firm Bitfury Debuts New ASIC Chip

Bitfury has announced the release of a new Application-Specific Integrated Circuit (ASIC) chip, as well as a new generation of its Bitcoin mining hardware. The Bitcoin mining firm plans to integrate its new offerings across many of its data centers around the globe. Bitfury’s New Catalog of Bitcoin Mining Hardware The company announced the launch in a blog… Read More »