Cryptocurrency miner Diversified Energy quietly vacated a natural gas-powered crypto mining site in Elk County, Pennsylvania, reportedly leaving behind unplugged wells and regulatory violations.

The site, known as Longhorn Pad A, was revived in 2022 after sitting dormant for nearly a decade when Diversified began using it to fuel on-site generators powering cryptocurrency mining computers, according to a report by the Erie Times-News.

Per the report, the operation was launched without obtaining an air quality permit from the Pennsylvania Department of Environmental Protection (DEP).

Though the company was later granted the permit in December 2023, a March 2025 inspection revealed that Diversified had already removed the mining infrastructure.

Empty metallic sheds and missing production equipment led the DEP to issue a formal violation notice for well abandonment. Diversified reportedly denied that the site was abandoned, saying that it may resume gas production.

However, the DEP and environmental advocates say the company has failed to meet its obligations. Under a 2021 agreement, Diversified had committed to plugging Longhorn A and 13 other wells at the end of their operational life, an obligation it has reportedly not fulfilled.

An image of the site. Source: The Erie Times-News

Cointelegraph has reached out to Diversified for comment.

Related: Bitcoin miners should pay costs in depreciating currency — Ledn exec

Diversified under scrutiny over business model

Environmentalists have long raised concerns about Diversified’s business model, which involves acquiring aging, low-producing wells and extracting remaining value without sufficient plans for decommissioning.

Plugging a single well can cost over $100,000, and Pennsylvania already has over 350,000 orphaned and abandoned wells, making the stakes particularly high.

A 2022 report labeled the company’s approach a “business model built to fail Appalachia,” warning that taxpayers could be left footing the bill for thousands of unplugged wells.

Diversified recently agreed to plug 3,000 wells by 2034 in a separate legal settlement but continues to face regulatory scrutiny, including a probe by the US House Committee on Energy and Commerce.

Horton Township officials, where the Longhorn site is located, say they’ve received no updates from the company.

Local supervisor PJ Piccirillo told the Erie Times-News that generators and tanks were removed without notice. “All we know is that the property seems to have been abandoned,” he said.

Related: Bitcoin mining — Institutions boost investments amid favorable US climate

US cities confront crypto mining

On April 25, the planning commission of Vilonia, Arkansas, unanimously rejected a proposal to establish a cryptocurrency mining facility within the city limits, following opposition from residents.

In January, Arkansas lawmakers introduced a bill that would ban crypto mining operations within 30 miles of any US military facility in the state.

The opposition to crypto miners in Arkansas follows a broader trend across US municipalities where crypto-mining initiatives have faced increasing scrutiny.

In October 2024, a group of residents in Granbury, Texas, filed a lawsuit against Marathon Digital, alleging that its mining facility generated too much noise.

Magazine: 12 minutes of nail-biting tension when Ethereum’s Pectra fork goes live

Ethereum — the network that unleashed smart contracts on the world — moves on to the next chapter with today’s Pectra upgrade, but what does it mean?

Pectra went live on the Ethereum mainnet at the start of epoch 364032, May 7, 2025, at about 10:00 am UTC. The three main Ethereum improvement proposals (EIPs) included are EIP-7702, EIP-7251 and EIP-7691.

Source: Ethereum.org

EIP-7702 allows externally owned accounts to act as smart contracts and cover gas expenses (transaction fees) and payments in tokens that are not Ether (ETH). EIP-7251 increases the validator staking limit from 32 ETH to 2,048 ETH, which makes operations for large stakers easier and simpler.

Finally, EIP-7691 increases the number of data blobs per block, which allows for better layer-2 scalability and potentially significantly reduces transaction fees. Sergej Kunz, co-founder of Ethereum decentralized exchange (DEX) aggregator 1inch, said Pectra “introduces ‘smart account’ functionality” at deeper protocol levels and “improves Ethereum’s scalability” through layer-2 solutions.

Related: Ethereum to simplify crosschain transactions with new token standards

Better account abstraction

0xAw, lead developer at Base Ethereum layer-2 DEX Alien.Base told Cointelegraph that EIP‑7702 “is a potentially great addition for Ethereum.” He said that account abstraction has so far been unable to gain traction due to the need to switch wallets.

The positives of adopting such a solution include “getting rid of approval flows, not having to sign each transaction, segregated permissions and actions, and automations on behalf of the user.” 0xAw added that, following the update, developers will have an easier time implementing the features.

While account abstraction “won’t magically result in mass adoption,” it still “does remove a significant barrier to entry for new people.” He added:

“It enables a Web2-like UX by hiding many of the underlying scaffolding from users.”

1inch’s Kunz said the update will pave “the way for native gasless transactions and simplified user flows.” Ivo Georgiev, founder and CEO of self-custodial smart wallet Ambire, told Cointelegraph that “there will be no more infinite ERC-20 approvals, and users won’t need native currency like ETH to pay transaction gas fees.” He added:

“Following this, the UX will be reworked completely, with permissions/delegations systems that let wallets give more limited abilities to apps, thus increasing their overall security — for example, you won’t need the wallet popup every time you interact with OpenSea.“

Still, the change is not without its downsides. According to 0xAw, “users have one more dangerous thing they could sign, which would be even more damaging than an approval to wallet drainers.”

Mike Tiutin, chief technology officer at onchain compliance protocol PureFi, told Cointelegraph that “drainers proved that users will sign ‘harmless’ messages in cloned DApps.” The risk will now get worse:

“EIP-7702 expands that trick from one token to the whole wallet.“

Georgiev is more optimistic, saying he is “confident there will not be a tangible increase in risk.” He explained, “By this point, the industry knows how to create a secure contract, especially with such a minimal scope as an EIP-7702 delegation.”

Related: Vitalik wants to make Ethereum ‘as simple as Bitcoin’ in 5 years

Easier institutional staking

Artemiy Parshakov, vice president of institutions at Ethereum staking service P2P.org, told Cointelegraph, “EIP-7002 makes institutional staking much easier to integrate without taking too much risk.” Staking service clients had to obtain a signed message from their staking service provider to be able to exit and store it securely for later.

Until Pectra, stakers could not exit without the participation of the staking service provider. Those messages also couldn’t be generated until about 13 hours after starting staking — now this exit delay will be decreased to about 13 minutes.

Supply validator deposits onchain

Another notable upgrade is EIP-6110. This makes the execution‑layer block carry data about new validator deposits to the consensus layer. Validator deposits are new validators joining Ethereum’s staking protocol.

Consensus clients previously waited for block proposers to vote on a Merkle root that summarized deposits. Now, the execution-layer block includes (supplies) a list of new verifier deposits.

This sort of upgrade makes changes very deep in Ethereum’s consensus layer, and its introduction follows client bugs breaking the Holesky and Sepolia Ethereum test networks.

Still, Parshakov said that his firm’s biggest concerns “are client bugs, but we trust that respectable teams and the Ethereum Foundation are working together to prevent it from happening on mainnet.”

Magazine: 12 minutes of nail-biting tension when Ethereum’s Pectra fork goes live

Key takeaways:

Inter Milan Fan Token jumped 10.5% after beating Barcelona, showing a direct price correlation with match outcomes.

PSG and AFC fan tokens signal breakout patterns ahead of the Champions League semifinal.

Crypto betting odds favor PSG over Inter Milan, influencing fan token trading volumes and short-term price setups.

The Inter Milan Fan Token ($INTER) rallied sharply after Inter Milan’s 4-3 victory over Barcelona FC in the Champions League semifinal on May 6, rising nearly 10.50% on match day and maintaining gains at $1.19 as of May 7.

Fan tokens are digital assets that holders, fans of a specific sports teams, clubs or players, own and derive value from. 

INTER/USD daily price chart. Source: TradingView

INTER’s price correlates with match outcomes

Hourly price data showed extreme volatility as the match unfolded.

$INTER dropped more than 20% during the game within the hour when the score was tied 3–3 around 20:33 UTC. It rebounded by over 30% in the next hour following Inter Milan’s extra-time winning goal.

Both hourly candlesticks were accompanied by more substantial trading volumes.

INTER/USD hourly price chart. Source: TradingView

The live price swings reflected real-time speculative trading responding to scoreline changes, enforcing the direct correlation between fan token valuations and match outcomes.

A similar correlation was visible on the Barcelona Fan Token ($BAR) charts.

The BAR price dropped 19.50% on May 6, with its hourly candlesticks showing about 13.50% gains when tied 3-3 with Inter and a sharp 20.75% drop after losing the game in the next hour.

BAR/USDT hourly price chart. Source: TradingView

Paris Saint-Germain favorite to beat Arsenal, Inter

Inter Milan will likely play Paris Saint-Germain (PSG) in the final match, according to Polymarket’s crypto betting data, if the latter beats Arsenal in the semifinal on May 7.

47.1% of bettors favor PSG winning the final on May 31, with Inter and Arsenal trailing with 38.6% and 13% odds.

Champion League winner odds data. Source: Polymarket

Trading volumes of Paris Saint-Germain Fan Token ($PSG) and Arsenal Fan Token ($AFC) have soared ahead of their standoff, up about 100% and 200% in the last 24 hours, respectively.

Prices are relatively stable ahead of the game, which indicates decisiveness among traders if coupled with rising volumes. This could result in high price volatility during the game, similar to what INTER and BAR witnessed on May 6.

AFC and PSG token prices and volumes (24 hours). Source: CoinMarketCap

INTER, PSG, AFC fan tokens price outlook

Like the INTER token, PSG will likely rise in price if it beats Arsenal in the semifinal.

That may assist the token in breaking out of its prevailing ascending triangle pattern to reach $3, up about 10% from the current price levels. PSG last tested the $3 level on Jan. 23, a day after it defeated Manchester City by 4-2 in the Champions League.

PSG/USD four-hour price chart. Source: TradingView

In the event of a loss, PSG’s price risks a decline toward its 50-4H exponential moving average (50-4H EMA; the red wave) at $2.48 and 200-4H EMA (the blue wave) at $2.23.

AFC cup-and-handle suggests 17% gains

AFC’s token price can rally 17% to $0.77 if Arsenal beats PSG on May 7. The upside target is derived from AFC’s prevailing cup-and-handle pattern, a classic bullish reversal setup.

An Arsenal loss, on the other hand, could push AFC’s price toward its 50-4H exponential moving average (50-4H EMA; the red wave) support at around $0.63, with the 200-4H EMA (the blue wave) near $0.56 serving as the primary downside target.

AFC/USDT four-hour price chart. Source: TradingView

These targets are down approximately 5% and 15% from the current levels.

INTER’s next move depends on PSG vs. Arsenal

INTER’s latest rally brought its price to a key resistance area that served as solid support from December 2024 to January 2025. This area coincides with the $1.14-1.19 range.

Related: Is it a bull or bear market? How to tell the difference

Technically, it’s probable that INTER consolidates between the range as resistance and its 200-day EMA (the blue wave) at around $1.07 as support.

INTER/USDT daily price chart. Source: TradingView

A Paris Saint-Germain win may push INTER’s price below the 200-4H support to test the 50-day EMA (the red wave) around $0.89 as the downside target.

A loss against Arsenal, on the other hand, could improve Inter Milan’s odds of winning the Champions League, resulting in a speculative rise above the $1.14-1.19 range. The next probable target in such a case is around $1.27, which served as resistance in January.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.