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Paul Krantz

Paul Krantz

Paul Krantz is a freelance journalist and writer based in Berlin. He has covered business topics for Insider and Deutsche Welle, and environment stories for Earth Island Journal and others.

Stories by Paul Krantz

  • Genesis Digital Assets is a Bitcoin mining firm. Image: GDA.

    Genesis Digital Assets Expands Bitcoin Mining Activity in ‘Pro-Innovation’ South Carolina

    Genesis Digital Assets (GDA), is expanding its U.S. operations, having announced the opening of three new Bitcoin mining data centers in South Carolina. One of GDA's new data centers is located near Anderson, and another two are found between the towns of Union and Lockhart. The three sites all began operations this year and have a combined total capacity of 33 megawatts (MW). Additionally, last year GDA broke ground on a 40-megawatt (mw) mining data center in Texas. One of the world's largest B...

    NewsBusiness
    3 min read
    Paul Krantz
  • The Texas State Capitol. Image: Shutterstock

    Lone Star State ‘Will Be Silicon Valley’ of Crypto: Texas Blockchain Council President

    Texas’s 88th legislative session has been an especially productive one for local Bitcoin miners. Advocates celebrated the blocking of one state bill, and the passage of several others, that will likely ensure the state remains attractive for miners. "The microchip was invented in 1958 but that technology was monetized in California,” Lee Bratcher, President of the Texas Blockchain Council, told Decrypt via email. Texas is not going to let that happen again. Texas will be the Silicon Valley of th...

    NewsBusiness
    3 min read
    Paul Krantz
  • Texas Bitcoin Mining. Image: Shutterstock

    Death of 'Anti-Mining' Bill Means Texas Miners Can Keep Raking in Energy Credits

    Large Bitcoin miners operating in Texas, such as Riot Platforms and Lancium, can breathe a sigh of relief after one bill, which would have eliminated energy credit incentives for the industry, is effectively dead. "We are thrilled that the Texas House saw fit to ensure that SB 1751 did not make it to the Governor's desk," Lee Bratcher, President of the Texas Blockchain Council, told Decrypt. Riot's head of public policy also took to Twitter on Tuesday to "report an excellent outcome for Bitcoin...

    NewsBusiness
    3 min read
    Paul Krantz
  • The European Union flag. Image: Shutterstock

    Crypto Leverage ‘Is Only a Problem’ When it Impacts Traditional Finance: EU Watchdog

    Crypto contagion risk is low today, but a European watchdog is keen to keep it that way. A new report from the European Systemic Risk Board (ESRB) found that the industry’s economic impact is minimal, but recommends policy options that would allow EU bodies to better monitor the crypto sector and mitigate any risks. Among other suggestions, such as actively monitoring contagion and education, the ESRB also highlighted the importance of monitoring leveraged trading in the crypto industry. “Levera...

    NewsBusiness
    2 min read
    Paul Krantz
  • CleanSpark is a Bitcoin mining firm based in the United States. Image: Shutterstock.

    CleanSpark Eyes Expansion Plans Ahead of Bitcoin Halving

    With Bitcoin prices still slumped since this time last year, CleanSpark took time during its latest earnings call to assure investors of the firm's financial health. According to statements provided by CleanSpark Inc., the U.S.-based Bitcoin mining company doubled the number of Bitcoin mined last quarter compared with Q2 of last year, but its revenue increased only 14%. CleanSpark's CFO Gary A. Vecchiarelli said that the stunted revenue growth was largely a result of low Bitcoin prices. "Our rev...

    NewsBusiness
    3 min read
    Paul Krantz
  • What's the best use for "excess" energy? Image: Shutterstock.

    Batteries or Bitcoin: Is Mining the Best Use for ‘Excess’ Green Energy?

    For Bitcoin miners the motive to power their operations with renewables is clear–it's economical. Per data from MacroMicro, it costs $26,979 to mine a Bitcoin on average. With the price of the leading cryptocurrency hovering around $28,500, cutting costs is key to fattening miners’ margins. Mining outfits that can tap cheaper energy powered by renewables, such as wind, hydro, or nuclear, are thus at a clear advantage over their competition. What’s more, beyond heftier profits, these miners also...