The latest report released by Perryman Group shows that the bitcoin mining industry generates more than $4.10 billion in total output value and 31,000 jobs for the US economy every year. The report states that Texas is the largest beneficiary of bitcoin mining activities, with an annual economic contribution of $1.70 billion and more than 12,200 jobs. Georgia and New York contribute $316.80 million and $225.90 million in annual output, respectively. It is reported that the United States currentl...
The bitcoin mining industry in Paraguay is reacting to the involvement of the National Electricity Authority (ANDE) in the closure of several illegal bitcoin mining farms. Bruno Vaccotti, head of public affairs at bitcoin mining company Penguin, has revealed the existence of "vulture contracts" that have slowed the growth of bitcoin mining operations in Paraguay. Vaccotti said Penguin pays $850,000 a month for electricity, almost 2 million ANDE claims it lost due to illegal mining activities.