Beginning in 2025, crypto mining will be banned in several locations throughout Russia as a way to preserve energy resources, according to Russian state media.
“The restrictions will be in force until March 15, 2031,” read the report from Tass, which said that the list of regions within the country where mining was banned would be adjusted as needed.
“The task of such restrictions is to maintain the balance of energy consumption, taking into account the demands of the industry."
Cryptocurrency mining is generally defined as the process by which digital assets are obtained, most famously initiated by Bitcoin. They are secured through a blockchain network.
The mining, however, is incredibly energy intensive, and can sometimes require special hardware.
Dedicated mining companies, with already highly efficient setups, consumed about 155,000kWh of electricity to mine a single Bitcoin, according to Crypto.com.
For perspective, the average energy consumed for one Bitcoin transaction is 851.77kWh, which is equivalent to about a month's worth of electric power consumption in the average US household.
Although data for Russia and crypto mining is not readily available, according to the International Energy Agency, mining for digital currencies takes up anywhere from 0.6 to 2.3 per cent in the US, with that number expected to grow in the years ahead.
While that number may seem small, it can be burdensome for energy providers, especially in areas vulnerable to energy crunches.
Yet with interest in cryptocurrencies showing no sign of waning, various technology and energy companies are looking to potentially plug the gap in energy demand.
Earlier in December, two UAE companies announced they would team up to build the country's biggest solar farm dedicated to crypto mining, as the country aims to promote sustainable solutions to the energy-intensive process.
During a presentation about artificial intelligence, data centres and energy consumption, Steven Chu, Barack Obama’s former energy secretary, briefly addressed the increasing burden placed on power grids from cryptocurrencies.
“Roughly speaking, half of the electricity of data centers is used to mine bitcoin type currencies,” he said, emphasising the need for increasingly smart power grids around the world. “Half of the electricity doing that is not a good thing."
Mr Chu also pointed to AI as potentially becoming burdensome for energy grids, although he pointed out that the technology could also prove to eventually be beneficial for energy companies and consumers. He also said that companies are finding ways to make the hardware for data centres to be more efficient in the long run.
"If you look at Nvidia's website, you can see they're bragging about how low in terms of energy per unit for operation, the H100 is, it's about a kilowatt of power for one chip, but they claim it's very low compared to what it does for one chip," he said.
Results
5pm: Handicap (PA) Dh80,000 1,400m; Winner: Faiza, Sandro Paiva (jockey), Ali Rashid Al Raihe (trainer).
5.30pm: Handicap (TB) Dh90,000 1,400m; Winner: Greeley, Connor Beasley, Helal Al Alawi.
6pm: Emirates Fillies Classic Prestige (PA) Dh100,000 1,600m; Winner: Marzaga, Jim Crowley, Ana Mendez.
6.30pm: Emirates Colts Classic Prestige (PA) Dh100,000 1,600m; Winner: Jawaal, Jim Crowley, Majed Al Jahouri.
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,600m; Winner: AF Ashras, Tadhg O’Shea, Ernst Oertel.
7.30pm: Handicap (PA) Dh80,000 2,200m; Winner: Somoud, Richard Mullen, Ahmed Al Mehairbi.
The Birkin bag is made by Hermès.
It is named after actress and singer Jane Birkin
Noone from Hermès will go on record to say how much a new Birkin costs, how long one would have to wait to get one, and how many bags are actually made each year.
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
57%20Seconds
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Profile of RentSher
Started: October 2015 in India, November 2016 in UAE
Founders: Harsh Dhand; Vaibhav and Purvashi Doshi
Based: Bangalore, India and Dubai, UAE
Sector: Online rental marketplace
Size: 40 employees
Investment: $2 million
Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
4) Try not to close the sale at night
5) Don't be rushed into a sale
6) Call 901 if you see any suspicious behaviour
The story in numbers
18
This is how many recognised sects Lebanon is home to, along with about four million citizens
450,000
More than this many Palestinian refugees are registered with UNRWA in Lebanon, with about 45 per cent of them living in the country’s 12 refugee camps
1.5 million
There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m
73
The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association
18,000
The number of marriages recorded between Lebanese women and foreigners between the years 1995 and 2008, according to a 2009 study backed by the UN Development Programme
77,400
The number of people believed to be affected by the current nationality law, according to the 2009 UN study
4,926
This is how many Lebanese-Palestinian households there were in Lebanon in 2016, according to a census by the Lebanese-Palestinian dialogue committee
RIVER%20SPIRIT
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Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
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Traits of Chinese zodiac animals
Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent
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Emiratisation was introduced in the UAE more than 10 years ago
It aims to boost the number of citizens in the workforce particularly in the private sector.
Growing the number of Emiratis in the workplace will help the UAE reduce dependence on overseas workers
The Cabinet in December last year, approved a national fund for Emirati jobseekers and guaranteed citizens working in the private sector a comparable pension
President Sheikh Khalifa has described Emiratisation as “a true measure for success”.
During the UAE’s 48th National Day, Sheikh Khalifa named education, entrepreneurship, Emiratisation and space travel among cornerstones of national development
More than 80 per cent of Emiratis work in the federal or local government as per 2017 statistics
The Emiratisation programme includes the creation of 20,000 new jobs for UAE citizens
UAE citizens will be given priority in managerial positions in the government sphere
The purpose is to raise the contribution of UAE nationals in the job market and create a diverse workforce of citizens
COMPANY%20PROFILE
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Springsteen: Deliver Me from Nowhere
Director: Scott Cooper
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Rating: 4/5
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EA Sports FC 25
Developer: EA Vancouver, EA Romania
Publisher: EA Sports
Consoles: Nintendo Switch, PlayStation 4&5, Xbox One and Xbox Series X/S
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