A crypto investor announced the creation of a city for bitcoin supporters in the Pacific Ocean, and the bitcoin network hashrate has hit an all-time high – these and other important cryptocurrency market news in our daily review.

Texas residents Brent Whitehead and Matt Lochstroh have created a company that mines bitcoins from oil fields. Their containers with ASIC miners are located in East Texas wells. The natural gas released during drilling is fed into generators that convert it into electricity to power the equipment, CNBC writes.

UK-based crypto investor Anthony Welch bought the 300-hectare Lataro Island and renamed it Satoshi. He plans to build a smart city there for fans of digital assets, The Guardian reports.

On Monday, February 14, a Twitter user responded to Tesla creator Ilon Musk’s post by asking if SpaceX and Starlink merchandise stores could accept Dogecoin as payment. The billionaire responded with a winking emoji.

The concept on regulation of cryptocurrencies proposed by the Ministry of Finance of Russia takes into account all the risks voiced by the Bank of Russia. This was said by Deputy Finance Minister Alexei Moiseyev. According to him, a complete ban on cryptocurrencies and mining, as proposed by the regulator, would lead to an outflow of experts from the country, writes TASS.

On Saturday, February 12, the hashrate of the bitcoin network updated the historical maximum above 248 EH/s. Over the day, the indicator grew by more than 30%, according to Glassnode.