Cryptocurrency mining definition

Cryptocurrency mining means the process of confirming transactions to be added on a blockchain by solving complex computations using high performance computers known as Rigs.
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Cryptocurrency mining means the operation of specialized computer equipment for the primary purpose of mining one or more blockchain based cryptocurrencies such as Bitcoin. This activity typically involves the solving of algorithms as part of the development and maintenance of a blockchain which is a type of distributed ledger maintained on a peer-to-peer network. Typical physical characteristics of cryptocurrency mining include specialized computer hardware; High Density Load (HDL) electricity use; a high Energy Use Intensity (EUI) where the operating square footage as determined by the Utility is above 250kWh/fr''2/year and with a high load factor in addition to the use of equipment to cool the hardware and operating space. For the purposes of the associated regulations, cryptocurrency mining does not include the exchange of cryptocurrency or any other type of virtual currency nor does it encompass the use, creation, or maintenance of all types of peer-to-peer distributed ledgers.”
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Cryptocurrency mining means the process whereby
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Examples of Cryptocurrency mining in a sentence

  • In addition to the foregoing, the Loan Parties agree to (a) provide Agent with (a) API (Application Programming Interface) and/or read access to the Loan Parties’ Bitcoin or other Cryptocurrency mining pool account or similar arrangement that shows the status and hash rate of the applicable mining equipment, and (b) account access to Borrower’s Bitcoin or other Cryptocurrency exchange or brokerage account, which provides transaction details including Bitcoin or Cryptocurrency revenue and trades.

  • Any Cryptocurrency remaining on Customer’s Cryptocurrency mining equipment 30 days after Customer defaults on payment becomes the property of Bolt automatically.

  • Notwithstanding the foregoing, Cryptocurrency mining is strictly prohibited.

  • Any Cryptocurrency remaining on Customer’s Cryptocurrency mining equipment 30 days after Customer defaults on payment becomes the property of NGD automatically.

  • The overall capacity of FTFT Ohio Cryptocurrency mining farm project is 300MW, with an estimated total investment of USD 62 million.


More Definitions of Cryptocurrency mining

Cryptocurrency mining means the operation of specialized computer equipment for the primary purpose of adding, securing, or verifying transactions to a blockchain or mining one or more blockchain-based cryptocurrencies such as Bitcoin. This activity typically involves the solving of algorithms as part of the development and maintenance of a blockchain which is a type of distributed ledger maintained on a peer-to-peer network.
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Related to Cryptocurrency mining

  • Cryptocurrency means a digital or electronic medium of exchange, operating independently of a central bank, in which encryption techniques are used to regulate generation of units and to verify transfer of units from one person to another.

  • Designated LIBOR Currency means the currency specified on the face hereof as to which LIBOR shall be calculated or, if no such currency is specified on the face hereof, United States dollars.

  • Balance Currency means the currency under which the trading account has the reference on and with which the Client buys or sells the subject matter instruments. It is noted that the all charges including Spreads, Commissions, Charges and Swaps are calculated in the Balance Currency.

  • Reference Currency means the currency specified as such in the applicable Final Terms.

  • LIBOR Currency means the currency specified on the face hereof as to which LIBOR shall be calculated or, if no currency is specified on the face hereof, United States dollars. “LIBOR Page”