TSE Sponsored:Global Crypto Mining News (Aug 1 to Aug 7)
Colin Wu . 2022-08-08 . Mining

Messari analyst Dunleavy said in a tweet that nothing has changed about ETC. Volumes and users have been largely unchanged for years. Applications are non-existent. Developer activity has not meaningful changed. 97% of GPU mining rev comes from Eth. 2% comes from ETC. Daily rwd for ETC is ~700k vs 24m for Eth. If miners end up migrating to ETC, hashrate will jump causing the mining diff to jump, pushing a maj of miners out of the $. The only way to remain profitable is if ETC price jumps.
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US-listed miner Marathon Digital Holdings has successfully completed a refinancing from Silvergate Bank, securing another $100 million credit facility, meaning it now has a $200 million credit facility, even though the business currently has thousands of bitcoin mining equipment sitting idle.
Bitcoin miner CleanSpark generated roughly $8.8 million from the sale of 426 BTC in July to fund its own growth and operations. CleanSpark announced the purchase of 2,861 mining rigs between June and July, leveraging favorable market conditions to secure a better deal. Last month it acquired 1,061 Whatsminer M30S machines, increasing its total hash rate by 93 petahashes per second (PH/s).(The Block)
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BitNile Holdings issues July bitcoin production and mining operation report. During the month of July 2022, BitNile self-mined 59.9 Bitcoin. As of July 31, 2022, BitNile held approximately 200 Bitcoin and currently has no plans to sell. BitNile’s Bitcoin mining production is currently operating at an estimated annualized run rate of 719 Bitcoin based on current market conditions.
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Riot Blockchain announces July 2022 production and operations updates. In July 2022, Riot produced 318 BTC, a decrease of approximately 28% as compared to July 2021. Riot sold 275 BTC, generating net proceeds of approximately $5.6 million. As of July 31, 2022, Riot held approximately 6,696 BTC, all produced by the Company’s self-mining operations. Riot currently has a deployed fleet of 40,311 miners, with a hash rate capacity of 4.2 EH/s.
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said it produced 1,221 bitcoins in July while selling 1,975 to pay for capital and growth expenses. Core Scientific used the cash from the sale for capital investments related to increasing its data center capacity and to pay mining rig manufacturer Bitmain for the 100,000 mining rigs that it ordered in 2021. The company still holds 1,205 bitcoins, and it has about $83 million in cash on its balance sheet.
As previously reported, CleanSpark sold 426 BTC in July, exceeding July's mining volume by 42. Bitcoin miner Bitfarms sold 1,623 BTC in July, exceeding July's mining volume by 1,123.(CoinDesk)
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Hut 8 Mining production and operations update for July 2022. 330 Bitcoin were generated, resulting in an average production rate of 10.61 Bitcoin per day. Keeping with our longstanding HODL strategy, 100% of the self-mined Bitcoin in July were deposited into custody. Total Bitcoin balance held in reserve is 7,736 as of July 31, 2022. Installed operating capacity was 2.92 EH/s at the end of the month.
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Tomorrow Crypto, a bitcoin and ether mining infrastructure company, is looking to go public through a proposed a merger with Nasdaq-listed blank cheque firm Globalink Investment (GLLI).
The proposed merger values Tomorrow Crypto at $310 million and is expected to close in in the fourth quarter of this year, subject to stockholder and regulatory approval, according to a Securities and Exchange Commission (SEC) filing on Thursday.
The transaction is expected to deliver gross proceeds of up to $131.7 million, which includes up to $116.7 million of cash held in Globalink's trust account. Net proceeds will be used for working capital and growth capital expenditure.
Tomorrow Crypto is a U.S.-based firm planning to establish infrastructure at facilities for institutional-grade clients to mine bitcoin and ether.(CoinDesk)
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According to BTC com, the difficulty of mining bitcoin was raised by 1.74% to 28.17T, the first increase after three consecutive decreases totalling 8.7%.
Argo sold 887 bitcoin in July and used most of the revenues to pay its outstanding balance with Galaxy Digital down to $6.72 million. That number was $22 million at the end of last month. Argo mined 22.4% more bitcoin in July compared with June. It also sold 887 BTC in July, at an average price of $22,670 per coin. Argo sold 637 BTC in June. Like it did this month, it had also used the proceeds to pay off debt, bringing its outstanding balance with Galaxy down to $22 million at the end of June. Argo held 1,295 BTC, of which 227 were BTC equivalents, as of 31 July.(The Block)
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According to the data available on The Block, Bitcoin (BTC) miners generated $555 million in revenue in July 2022. On the other hand, in June 2022, BTC miners generated $667 million in revenue. This indicates more than a hundred million dollar drop in Bitcoin mining revenue or a 16.7% decrease.
In July, miner revenue was at its lowest. On July 31st, the number stood at 22.797 million. July also witnessed the lowest point in miner revenue at 13.929 on the 13th of July.(Watcher Guru)
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Bitcoin miner Digihost announced that it will move some of its mining fleet from New York to a new 55-megawatt site in Alabama. Construction just started on the new facility. The first 28 megawatts of energy capacity are scheduled to be ready by the end of the third quarter of 2022 and the full 55 by the first quarter of 2023. The machine transfer will allow the miner to benefit from lower direct energy costs negotiated with Alabama Power.(The Block)
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Nasdaq-listed miner SAI.TECH has cancelled the second phase of its power supply partnership in Kazakhstan. This follows the postponement of mining operations in May after the company received concerns from power partners and hosting customers about the operational stability and cost uncertainty of doing business in Kazakhstan.(Marketscreener)
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National Power Administration of Paraguay is proposing a new way of charging cryptocurrency companies for the electricity used in mining operations in Paraguay. The company has brought a new decree proposal to the national economic team that would collect the payments for these services in advance in U.S. dollars, and with an annual adjustment. This proposal would also create a new billing group for these activities.
The head of the East Regional Management Division, Alfredo Argüello, stated that while inspecting different cryptocurrency mining operations, the group was able to detect irregularities in some of them that led to the loss of more than $400,000 monthly. Some of these irregularities included direct connections, bypass connections, and modified power meters, Argüello informed.
As a result of this, the company is stopping the power supply to these companies until a new power billing structure is approved for these entities, an issue that’s already being discussed in the Paraguayan senate.
In previous news, the Paraguayan Senate has passed a cryptocurrency bill that still needs to be approved by the President. 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 recognised as regulated entities and will need to be registered as virtual asset providers with the Paraguayan Anti-Money Laundering Secretariat (SEPRELAD).(Bitcoin.com)
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White Rock Management CEO Andy Long believes bear markets “present excellent opportunities” for expansion via mergers and acquisitions in the crypto mining sector.
The crypto mining company CEO noted that companies who have managed their balance sheets effectively are in “great shape” during this bear market, and will continue to do well even if there’s more volatility to come.
“The bear market has presented challenges for the miners who leveraged up at the top of the market, however, the sector has been here before, and well capitalized and efficient miners will do just fine,” he said.
Long suggested that the current bear trend will provide key merger and acquisition opportunities for such companies, as they will have proven to investors that they can survive extreme market conditions(Cointelegraph)
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Mining company Bit Digital is expanding its operations to Canada. It had signed a two-year agreement. The Canadian facility would use “an energy source that is primarily hydro-power operated.” The facility powers about 650 miners and plans to host over double that amount, about 1,500 bitcoin (BTC) mining units, in the coming months.(CoinDesk)
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Hasu, head of Strategy at Flashbots, said in response to the ETH PoW fork. Many, including him, have predicted for years that miners would fork ethereum to extract the final juice out of their investment. it doesn't take nostradamus to see this. A lot of hashpower does not give this chain any significant value. The chance that a major stablecoin will honor redemptions on this fork over eth2 is not 5%, its not 1%, it’s a cold zero. Anyone who says otherwise is a grifter.
If anything goes wrong with the merge, it just gets delayed until the problems are fixed and then the merge happens a few weeks later. No one in the eth community apart from miners want to stay on proof of work. This fork chain will be a giant retail trap. miners, exchanges, traders are all trying to talk it up for their own self-interested reasons.
No one wants to use or build ethpow. He have studied the etc, bch, and bsv forks and these were actually dividing their respective communities. In all cases, their minorities were actual believers and not in it for a short-term trade. Ethpow doesn’t have 1% of that support.
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