TSE Sponsored:Global Crypto Mining News (July 11 to July17)
Colin Wu . 2022-07-18 . Mining
The first bitcoin mining contract case in Beijing was upheld in the second trial, according to Global Network. The Beijing Third Intermediate Court held that the virtual currency trading speculation activities endangered the safety of people's property and national financial security, and found the "mining" contract invalid.
Greenidge Generation provides June 2022 operational update. Produced approximately 230 bitcoin in June 2022 and 1,183 bitcoin for the six months ended June 30, 2022. Hashrate capacity of approximately 2.5 EH/s from approximately 27,500 miners as of June 30, 2022.
Read more
Gryphon Digital said it mined 71 bitcoin in June, up about 15% from 62 the previous month. Gryphon further noted that a recently obtained loan was both borrowed and payable in bitcoin, removing any dollar-denominated price risk. In April, the company and Sphere 3D Corp. terminated a deal for Gryphon to go public via a special purpose acquisition company (SPAC).(CoinDesk)
Read more
The cryptocurrency infrastructure provider Lancium has partnered with Broad Reach Power, a Houston-based power producer to use power stored in batteries during peak demand.
Lancium will receive a power supply from Broad Reach to support a portion of the infrastructure provider's 25 megawatt Clean Campus data center in Texas. When grid supplies are short, instead of sourcing power from power plants, this deal will allow Lancium to tap power from utility-scale batteries.(UPI)
Read more
The Electric Reliability Council of Texas (ERCOT) asked Texans and Texas businesses to voluntarily conserve electricity to conserve energy due to extreme temperatures. Crypto miners Argo Blockchain, Riot Blockchain, Core Scientific and other miners have taken measures to reduce their electricity usage. Previously, cheap electricity and laissez-faire regulation in Texas attracted a large number of cryptocurrency miners seeking mining operations here.(The Block )
Read more
The Central Bank of Sri Lanka today issued a risk alert to the public regarding virtual currencies, "The Central Bank of Sri Lanka has not granted any license or authorization to any entity or company to operate a scheme involving virtual currencies, including cryptocurrencies, nor has it authorized any initial Token issuance (ICO), mining or virtual currency exchange. There are no regulations or safeguards for virtual currencies in Sri Lanka."
President of Kazakhstan Kassym-Jomart Tokayev has signed into law a bill amending the country’s Tax Code to impose higher tax rates on crypto miners. The levy will depend on the amount and average price of electricity utilized in the extraction of digital currencies like bitcoin. Kazakhstan launched digital mining fees on 1 January 2022 and received $1.5 million in the first quarter of 2022.(Bitcoin.com)
Read more
The cost to produce bitcoin (BTC) has fallen to about $13,000 from around $20,000 at the start of June as miners battle the bear market and efficiency in mining rises, according to investment bank JPMorgan.
While improved profitability means there may be less pressure for miners to sell their bitcoin holdings for liquidity purposes, the drop in production costs could be viewed as a negative for overall bitcoin price, JPMorgan added in its note to clients.
Bit Digital announces monthly production update for June 2022. In June 2022, Bit Digital earned 67.6 bitcoins and 0.0 ETHs. Treasury holdings of BTC and ETH were 860.7 and 313.6, on June 30, 2022. The Company owned 38,135 bitcoin miners and 731 Ethereum miners as of June 30, 2022, with an estimated maximum total hash rate of 2.7 EH/s and 0.3 TH/s, respectively.
Read more
Bitcoin miner prices fall to lows since 2020 due to Celsius' bankruptcy. Bitmain’s Antminer S19 and S19 Pro are catching bids around $20-$23 per terahash (TH), according to one application-specific integrated circuit (ASIC) trading desk. For comparison, these models were priced around $40/TH in recent months, and as high as $119/TH last year, according to Luxor Mining’s Hashrate Index data.(CoinDesk)
Read more
CleanSpark purchased Bitcoin miners, including 1,061 Whatsminer M30S and 1,800 Antminer S19 XPs, at a significant discount. The Company’s computing power has increased by 47% over the last six months, while its monthly bitcoin production has grown 50% over the same time period.
Read more
Compass Mining obtained a court order granting the bitcoin miner access to its machines hosted with Dynamics Corp. in Maine.The two companies have been in conflict for the past month over claims of missed payments and ‘hostage’ hardware.
7A court order issued on July 5 granted Compass access to the machines. The court prohibited the facility, Dynamics Corp, from "operating, moving, or otherwise disposing of the equipment" and stated that Compass had the right to access the facility . Compass sued Dynamics Corp on June 21, accusing the hosting provider of holding its machines "hostage".
As previously reported, Dynamics Mining said it had terminated Compass' hosting agreement in Maine for non-payment of utilities and hosting fees.(The Block)
Read more
According to Glassnode’s weekly on-chain report, capitulation is still ongoing as extreme financial stress is certainly in place. It added that there may be a combination of time pain in terms of duration and further downside risks before markets establish a resilient bottom. 
The analyst who conducted the research said that Bitcoin investors were not out of the woods yet.It is very difficult, even for professional traders, to time the market bottom exactly.
Glassnode noted that miners are still selling and they have been for the past couple of months. However, in the previous bear market, the miner capitulation lasted around four months so the outflows are likely to continue into Q3.
It also noted that the drawdown during the 2018/19 bear market lasted for around 15 months culminating in an 84% decline in BTC prices from peak to trough. A similar scenario in this cycle could see Bitcoin bottom at around $12K to $13K and markets remain range-bound until Q1, 2023.(BeInCrypto)
Read more
BIT Mining is selling the majority shares of Loto Interactive. The company announced Tuesday that it entered into a sale and purchase agreement with an unnamed third party for 51% of Loto Interactive's shares. After the deal, it will maintain an 8.79% stake.
BIT Mining explained that the move aligned with the company's plans to keep expanding in the US.
BIT Mining's operations, via Loto Interactive, were mainly located in China until the government's crackdown on bitcoin mining last year. Loto Interactive at one point owned three sites referred to as "big data centres."(The Block)
Read more
TAAL Distributed Information Technologies Inc., a vertically integrated blockchain infrastructure and service provider for enterprise, announces its wholly owned operating subsidiary has entered into a hosting agreement with Lake Parime USA Inc..
heir nuclear energy facility in Ohio will host 3,000 S19J Pro bitcoin mining units which, once deployed, represent over 300 PH/s of TAAL-owned clean computing power.(CNW)
Read more
The Paraguayan Senate has passed a cryptocurrency bill that still needs presidential approval. The bill will allow crypto miners to use the excess energy generated at competitive prices and crypto companies operating in Paraguay will be exempt from VAT.
In addition, cryptocurrency trading platforms will be recognized as regulated entities and will need to register as virtual asset providers with the Paraguayan Anti-Money Laundering Secretariat (SEPRELAD).
GitHub Actions and Azure virtual machines (VMs) are being leveraged for cloud-based cryptocurrency mining, indicating sustained attempts on the part of malicious actors to target cloud resources for illicit purposes.
“Attackers can abuse the runners or servers provided by GitHub to run an organization’s pipelines and automation by maliciously downloading and installing their own cryptocurrency miners to gain profit easily,” Trend Micro researcher Magno Logan said in a report last week.
The Japanese company said it identified no fewer than 1,000 repositories and over 550 code samples that are taking advantage of the platform to mine cryptocurrency using the runners provided by GitHub. The Microsoft-owned code hosting service has been notified of the issue.(OODALoop)
Read more
In a letter sent to the U.S. Environmental Protection Agency (EPA) and the Department of Energy (DOE), six Democrats led by Rep. Jared Huffman of California and Sen. Elizabeth Warren of Massachusetts requested those agencies require greater emissions and energy use reporting from the crypto mining industry.
“The results of our investigation … are disturbing … revealing that [crypto miners] are large energy users that account for a significant – and rapidly growing – amount of carbon emissions,” the lawmakers said in a statement. “Our investigation suggests that the overall U.S. crypto mining industry is likely to be problematic for energy and emissions,” they added.
The lawmakers said the top seven mining companies have presently developed over 1,045 megawatts (MW) of energy capacity for their mining operations – enough to power all the residences in Houston, the largest city by population in Texas. The group is further alarmed by miners’ plans to increase capacity by nearly 230%, enough to power another 1.9M households.
They also noted that much remains unknown about the full scope of mining activity and requested the two agencies work together to require reporting of energy use and emissions from crypto miners. The group asked for a response from EPA and DOE by Aug. 15.(CoinDesk)
Read more
TradingView's closing data for the week shows that the majority of listed miners closed higher on the last trading day of the week, driven by a positive rebound in bitcoin to the $21,000 range.
Northern Data's stock went up by 10.84%, followed by HIVE Blockchain (+8.95% on Nasdaq), Cipher Mining (+8.75%) and Riot Blockchain (+4.70%). Mawson Infrastructure's stock fell by 5.61%.(The Block)
Read more
As the geographic location of bitcoin mining changes, immersion liquid cooling technology is becoming increasingly popular over traditional air cooling methods. Two of these mining companies, Riot Blockchain and Argo Blockchain, have invested in large mining facilities in Texas using liquid cooling systems.(The Block)
Arcane Research data shows that listed mining companies sold around 14,600 bitcoins in June, almost four times as many as in May; only 3,900 bitcoins were mined in the same period. This means they sold nearly 400% of their bitcoin production and ended up depleting nearly 25% of their bitcoin holdings.
Core Scientific and Bitfarms sold the most bitcoins. core scientific sold almost 10,000 bitcoins in May and June, including 7,000 in June. Bitfarms sold 3,353 bitcoins in June. German company Northern Data was the third largest seller, selling all of its bitcoin and ethereum holdings in May and June.
Marathon and Hut 8 did not sell in May and June and therefore now hold the most bitcoins at 10,055 and 7,405 respectively. riot came in third with 6,654 bitcoins held.
Celsius’ mining subsidiary also filed for Chapter 11 bankruptcy protection, showing that it owns 80,850 mining rigs, of which 43,632 are operating. By the end of the year, It expects to increase its mining capacity to around 120,000 rigs.
In the seven days to 14 July, Celsius Mining produced 14.2 bitcoins per day, resulting in a total of 3,114 bitcoins in 2021 and an estimated 10,118 bitcoins in 2022. Celsius has reportedly sold about 7,000 mining rigs in a confidential auction before filing for bankruptcy.(BeInCrypto)
Read more
As pointed out by an analyst in a CryptoQuant post, the BTC miner reserve observed a plunge during the past day.
The “miner reserve” is an indicator that measures the total amount of Bitcoin currently stored in the wallets of all miners. When the value of the metric rises up, it means a net number of coins are entering into miner wallets at the moment. On the other hand, a lowering value of the reserve indicates that miners are withdrawing a net amount of BTC currently. Since they usually transfer out their coins for selling on exchanges, this kind of trend can be bearish for the value of BTC.(Bitcoinist)
Read more
Top Speed Energy (www.tsedata.com) is committed to spearheading the definition of cryptocurrency mining services in North America. 
With years of experience in the local natural gas landscape (original website: www.topspeedenergy.com), on top of run-of-the-mill Grid-powered Bitcoin mining facilities, TSE also extends to set up 100% natural gas-powered facilities as well as 100% hydroelectric ones across a plethora of states and provinces in USA and Canada, including but not limited to Texas, Ohio, North Dakota, British Columbia, and Alberta.
TSE features a double-shift operation and maintenance team, delivering one-hour response promise to ensure the streamline operations of clients’s miners all year around. 
Being a local player in North America, TSE poses itself as a trustworthy partner to international clientele - it can assist foreign clients with local incorporation registry, tax planning among with legal advice to help them enter the North American mining market safely and worry-free, in a compliant way. 
Contact us Telegram Colinwu1989/wuhongliang1@gmail.com
Follow us
Twitter: https://twitter.com/WuBlockchain
Telegram: https://t.me/wublockchainenglish