0215 GMT January 18, 2021
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The Iranian Energy Ministry said police have acted on their tip-off to seize some 45,000 bitcoin mining machines that were illegally using subsidized electricity at a time the country faces increased demand for power.
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Iran has ordered a temporary suspension of activities in a major cryptocurrency mining factory located southeast of the country amid a significant increase in demand for electricity in the country that has resulted in blackouts in the capital Tehran and other major cities.
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The price of the cryptocurrency bitcoin soared past $40,000 for the first time on Thursday, rising $10,000 in just five days.
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Digital currency Bitcoin extended its record-smashing rally, beginning the year with a surge over $30,000 for the first time, with ever more traders and investors betting that it is on its way to becoming a mainstream payment method.
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Digital currency Bitcoin extended its record-smashing rally, beginning the year with a surge over $30,000 for the first time, with ever more traders and investors betting that it is on its way to becoming a mainstream payment method.
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Bitcoin, the world's best-known cryptocurrency, has jumped above $17,000 (£12,800) to hit a three-year high.
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Bitcoin crossed the $11,460 mark, its highest July peak in eight years. The cryptocurrency gained about 23 percent in July.
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Bitcoin rose above $10,000 for the first time since June 2.
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Bitcoin has just gone through a much-hyped adjustment that reduced the rate at which new coins are created.
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iMiner, a cryptocurrency company registered in Turkey, has been granted a license to mine digital coins and offer trading and custody services in Iran, Tabnak news website reported.
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By Chris Baraniuk*
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Bitcoin rose above the $9,927.4 threshold on Sunday. Bitcoin was trading at 9,927.4 by 19:52 (00:52 GMT), up 1.40 percent on the day. It was the largest one-day percentage gain since February 6.
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South Korea is considering legislation to bring cryptocurrencies into the mainstream and mulling whether to tax crypto assets.
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It’s been a bumpy year for bitcoin hodlers, but despite the rough ride, over the last 12 months, the price of the cryptocurrency has risen by more than 95 percent since this time last year.
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Coinplug, one of the earliest bitcoin exchange, wallet and payment startups in South Korea, has raised 7.5 billion won, or $6.4 million, from venture arms of major local financial institutions.
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