#asic
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Australia Tightens the Screws on the Crypto Industry
The Australian Securities and Investments Commission (ASIC) is set to significantly tighten regulations on the cryptocurrency market. Under a newly proposed framework, most companies working with digital assets will be required to obtain a financial services license. Australia Intensifies Crackdown on Fraudulent Websites
Since the start of 2023, the Australian financial regulator (ASIC) has closed over 7,300 fraudulent investment websites and schemes, including 615 cryptocurrency projects. Fake investments continue to be a major issue, with Australians losing over $1.3 billion to such scams in the past year. 
Bankrupt BlockFi is trying to sell $160 million worth of loans
Loans were issued against mining equipment. The creditor has about 68,000 of them, as of today.
The company started selling last year. Unfortunately, some loans have already been declared default. The average price of BlockFi's credit ASIC miner is $2,350 and ASIC's current market value is $1,400.
The total companies' debt to the industry in similar loans is estimated at $4 billion. Apart from BlockFi, loans were also issued to NYDIG, Celsius Network, Foundry, Babel Finance, and Galaxy Digital. 
Australia will penalize for unscrupulous advertising of crypto-exchanges
ASIC (Australian Securities and Investments Commission) stated that financiers who promote cryptocurrency projects can provoke people for reckless investment of assets. The country establishes liability for this. Influential people from the world of finance were warned about it by ASIC. Australian Regulator Wins Case Against Kraken
The Australian Securities and Investments Commission (ASIC) won a legal battle against Bit Trade Pty, the local operator of the Kraken exchange. The court found that the company violated regulations by offering margin trading services to Australian clients without the necessary registration since 2021. GPU Mining in 2024: Comparing GPUs with CPUs and ASICs in Mining
Miners provide computational power to Proof-of-Work blockchain networks to process transactions, create new coins, and ensure network security. The efficiency and results depend greatly on which devices they use. The most common types of crypto mining based on the used hardware are GPU mining, CPU mining, and ASIC mining. Bitmain shields customers from a 20% decline in the market
Bitmain, the manufacturer of ASIC miners, has rolled out a new protection scheme against market volatility for those buying the S19j XP model.
If there's a downturn of more than 20% in the subsequent three months post-purchase, company ensures compensation at $1.89/T.
Impressively, this offer is available even to current S19j XP owners.
The compensation will be directly credited to the user's account and is usable for any Bitmain product acquisitions. A small miner earned 6.25 BTC for mined block
A bitcoin miner with only 10 terahashes hardware capacity was able to get a new block by himself. The probability of such a jackpot with a similar hash rate is less than 0.00001%!
The miner's reward is 6.25 bitcoins per block, which is about $131,000 and many times than the old Asic costs.
However, if you feel an uncontrollable urge to run to AliExpress for energy-consuming equipment, remember that this example is a real miracle. 
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