TSE Sponsored:Global Crypto Mining News (Aug 8 to Aug 14)
Colin Wu . 2022-08-15 . Mining

According to Hashrate Index data, as of August 4 the price of a miner with an energy efficiency ratio below 38J/TH is $35/TH and $21/TH for 38-68J/TH. bitmainland has started to adjust the price of its S19 XP orders, the first of which were delivered in July and August. marathon will save $100 million in machine costs.
Ether miners are the unsung heroes of the Ether ecosystem and have been quietly protecting the Ether chain for the past 7+ years, says F2pool, the second largest Ether mining pool. Whether we support an Ether fork or not is no longer important and will be left to the miner community to decide. However, we acknowledge that the era of ETH PoW is over and will be history. Let's remember and say goodbye to the glory days and move on to a new era of PoS.
Microblogs, posting accounts and WeChat public websites that induced netizens to invest in digital assets under the banner of "financial innovation" and "blockchain" were shut down in accordance with the law. The State Internet Information Office, in conjunction with relevant departments, closed down 105 websites and platforms, including "Coin Headlines", that were dedicated to virtual currency marketing and advocacy, publishing tutorials on cross-border coin speculation and virtual currency "mining".
2Pool co-founder Chun Wang responded to allegations by Hebrew University researchers that F2Pool has been manipulating the timestamps of ethereum blocks to "consistently achieve higher mining rewards" by saying: We respect "consensus" and if you don't like it, please Convince the developers to change that consensus. The accusation claims that the F2Pool pool has been conducting "consensus-level" attacks on Ether for the past two years.
According to the Hashrate Index, bitcoin miners sold more bitcoin than they mined in July 2022. The total number of bitcoins mined during the month was 3,478, with a total of 5,340 sold. Many miners with operations in the US yielded fewer BTC last month as a result of power curtailment and demand response programs during a series of heatwaves.
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Bitcoin miner CleanSpark posted a net loss of $29.3 million in the third quarter of its fiscal year ending in June, compared with a net loss $170,000 in the previous quarter. As of July 31, CleanSpark had 30,450 miners in its fleet with a total hash rate of 2.9 EH/s. It also had 519 BTC in its reserves by the end of the month.
Bitcoin miner Riot Blockchain (RIOT) delayed its quarterly earnings report because it needs more time to calculate how much the cryptocurrency rout, the war in Ukraine and other macroeconomic issues have cut the value of its assets. .
Riot's rivals Marathon Digital Holdings (MARA), Cipher Mining (CIFR) and CleanSpark (CLSK) all reported their earnings this week as anticipated. Riot's stock fell about 2% following the disclosure of the delay.(CoinDesk)
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Conflux has launched CIP-102, a community proposal to change PoW mining algorithm to Ethash, with the motivation of making it easier for Ethereum miners to switch to Conflux, but the details, including rationale, test cases, and implementation, are still pending.
According to Bloomberg, Bitmain and its Antpool mining spinoff are partnering with Sunga Phi financial services firm Antalpha to offer low-interest loans to miners to help them lower their borrowing costs and repay their loans. antalpha said some of the loans do not require a margin call and allow miners to use the miners they buy as collateral.
Ron, founder of WePiggy, tweeted that wallets that have participated in TornadoCash mining have been blocked by Aave. The block is currently in place for the front-end, and blocked addresses can still operate through third-party front-ends such as DeFi Saver to successfully complete repayments and withdrawals of funds.
Iris Energy has brought 41 megawatts of bitcoin mining machines on line in British Columbia more than a month ahead of schedule. The addition doubled the company's operating hashrate the Bitcoin network to 2.3 EH/s. Another 1.4 EH/s, requiring 50 MW of energy capacity, also in British Columbia, is scheduled to be up and running by the end of September.
Iris Energy "continues to work through deployment options for its remaining 2.3 EH/s of miners," including 1.7 EH/s of Bitmain Antminer S19j Pros it bought from Bitmain earlier this month.(CoinDesk)
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Cryptocurrency miner Marathon Digital recorded a net loss of about $192 million during the second quarter. The loss was up from its net loss of $109 million in the second quarter of 2021. Marathon mined 707 bitcoins in the second quarter, a 44% decrease from the prior quarter. At the same time, Marathon Digital posted a record $127 million impairment on its bitcoin holdings in the three-month period.
In previous news, earlier this month Marathon Digital Holdings (MARA) expanded its line of credit from Silvergate Bank by refinancing its existing $100 million revolving line of credit and adding an additional $100 million term loan on July 28.(Blockworks)
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Bit Digital announced its unaudited bitcoin and Ethereum production and corporate updates for the month of July 2022. In July 2022, the Company earned 142.5 bitcoins, an 111% increase compared to the prior month. The Company earned 0.5 ETH during July 2022 compared to 0.0 in the month ending June 30, 2022. Treasury holdings of BTC and ETH were 889.1 and 2,176.9, with a fair market value of approximately $20.7 million and $3.7 million, respectively, on July 31, 2022. The Company owned 38,135 bitcoin miners and 731 Ethereum miners as of July 31, 2022, with an estimated maximum total hash rate of 2.7 EH/s and 0.3 TH/s,  respectively. During the month, the Company finalized an agreement for 5 megawatts of hosting capacity in Canada. The facility utilizes an energy source that is primarily hydroelectric.(PR Newswire)
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Crypto-miner Mawson says CFO Hetal Majithia resigns. Ariel Sivikofsy, CFO of Filecoin's decentralised storage provider Distributed Data Storage Solutions, will assume the role of CFO on an interim basis until Mawson confirms his successor.(CoinDesk)
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Glassnode data shows that miner stress peaked in June as $BTC prices fell below $20k. However, there has been a notable decrease in miner distribution to exchanges in recent weeks. This suggests that whilst stress remains in the industry, the worst may well be behind us.
In addition, the difficulty of mining bitcoin has been declining since hitting an all-time high in May, which bodes well for miners as they require less computing power to mine blocks, however after a 3-month downward trend, a small increase was seen earlier this month. Another notable development is that miners' overall income also appears to have increased compared to June, with the drop in stress levels, combined with the increase in miners' income, possibly signalling that the bitcoin mining market is turning around.
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The Norwegian bitcoin mining company – Kryptovault AS – reportedly plans to move its operations north of the Arctic Circle. The relocation is prompted by the rising electricity costs in the country, while the northern regions are still relatively unaffected by the crisis.
Over the past few years, Norway has turned into a cryptocurrency mining center for the European region due to its green policies. According to estimations, 98% of the energy production in the nation comes from renewable sources.
The company’s Chief Executive Officer – Kjetil Hove Pettersen – said electricity prices there are 160 times cheaper than in the south. Despite these advantages, the transition has its minuses, too. Pettersen explained that initially, the entity will have to pay some significant expenses, including the transportation of the machinery.(Cryptopotato)
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Data from blockchain.com confirms that BTC mining revenue jumped nearly 69% in one month — from $13.928 million on July 13 to $23.488 million on Aug. 12. In addition network difficulty increased for the first time since June.
Crypto mining companies, including Hut8 Mining Corp., Marathon Digital Holdings and Core Scientific, revealed skyrocketing stock prices, each performing at least 95% better than June 2022.(Cointelegraph)
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The recent recovery in the value of crypto assets has trickled down into the ‘traditional’ finance world, more specifically into stocks of crypto mining companies. Furthermore, the rise of crypto prices increased mining profitability, which has seen some mining businesses rallying up to 120%.
Some of the major crypto mining companies such as Marathon Digital Holdings (NASDAQ: MARA), Riot Blockchain (NASDAQ: RIOT), Hut 8 (NASDAQ: HUT), and Core Scientific (NASDAQ: CORZ), increased their share price over the past 30 days by 124.12%, 96.69%, 98.95%, and 110.39% respectively.
It seems that crypto mining stocks were deep in oversold territory, and the rally seen over the past month could be attributed both to a rebound from those levels coupled with a rally in crypto initiated mostly by Ethereum (ETH) as it nears its transition to proof-of-stake (PoS) network.
In addition, the aforementioned companies appear to be expanding their bitcoin mining operations.(Finbold)
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Crypto miner Core Scientific (CORZ) reported its second quarter financial results on Thursday, announcing a 10% workforce reduction and a net loss of $861.7 million on total revenues of $164 million for the second quarter, with the loss being due to an impairment loss on goodwill of $840 million, an impairment loss on digital assets of $150.2 million and an increase in total operating expenses of 106.9 million. As at June 30, 2022, the company held 1,959 bitcoins with a carrying value of $40.7 million in digital assets.
CEO Mike Levitt said during the earnings call that two-thirds of the company's 2022 growth is set to take place in the second half of the year.(CoinDesk)
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Genesis Digital Assets secured 708 megawatts (MW) of power for bitcoin mining in the first six months of the year. The firm said the power capacity is spread across sites in west Texas, as well as North and South Carolina.
The company didn't specify at what stages of development the different sites are or when they will be ready to start operating. Bitcoin mining sites can take months to complete. Prior to the new sites, the miner had contracted for 100MW in Sweden, 300MW in Texas and an undisclosed amount in South Carolina, according to its website.(CoinDesk)
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Vespene Energy announced the close of a $4.3M financing round led by Polychain Capital. Vespene Energy is a company reportedly based in Berkeley, California. The company uses wasted methane to power Bitcoin mining to alleviate the greenhouse problem in the crypto industry. This financing round will enable Vespene to launch its pilot site in California.(PR News Wire)
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Authorities in Kazakhstan arrested 23 people suspected of forcing an IT professional to run an illegal crypto mine, according to a report on an information platform supervised by the Ministry of the Interior.
During searches of illegal mining farms, the Ministry of Internal Affairs and Kazakhstan's national security service found seven people thought to be members of the gang and a 36-year-old IT professional who was forced to organize the work of the mining farms, the report said. Another three suspected gang members were arrested as authorities searched for illegally stored weapons.
It was making $300,000-$500,000 a month from illicit crypto mining in the Talgar district of the Almaty region, the report said.Authorities also seized 6,000 items of crypto mining equipment, worth about $7 million, along with an AK-47 assault rifle, ammunition and pistols.(CoinDesk)
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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.
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