Even though bitcoin has gained wide acceptance across the globe, it still remains highly contested in some countries because of its decentralized nature and volatility and its exorbitantly high power consumption. Developed nations may well have an edge when it comes to location because of the low cost of power. When bitcoin was first launched, the reward for every block mined started at 50 bitcoin. To date, three halving events have taken place, and the block reward went from 50 from bitcoinczechia 2009, 25 from 2012, 12.5 from 2016, to the current 6.25 BTC from 2020. Bitcoin’s upper supply limit of 21 million bitcoin set by its source code by Satoshi Nakamoto, its inventor, is puzzling.

Moreover, not all types of equipment are available in India, so it has to be imported from countries like China, which adds additional costs and reductions in profit. In addition, India does not have any clear rules for cryptocurrencies, which makes any investment into the space risky. Cryptocurrency-mining malware can impair system performance and risk end users and businesses to information theft, hijacking, and a plethora of other malware. And by turning these machines into zombies, cryptocurrency malware can even inadvertently make its victims part of the problem. Cryptocurrency-mining malware steal the resources of infected machines, significantly affecting their performance and increasing their wear and tear.

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As it required a high amount of electricity, which costs very high than the profit. The technology at the heart of bitcoin and other virtual currencies, blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. In October 2021, financial services company Mastercard announced bitcoin mining it is working with digital asset manager Bakkt on a platform that would allow any bank or merchant on the Mastercard network to offer cryptocurrency services. Two members of the Silk Road Task Force—a multi-agency federal task force that carried out the U.S. investigation of Silk Road—seized bitcoins for their own use in the course of the investigation.