TSE Sponsored：Global Crypto Mining News (Aug 22 to Aug 28)

As reported by rferl.org, Iranian authorities have announced the seizure of 9,404 illegal cryptocurrency mining devices in Tehran since the end of March.Kambiz Nazerian, head of Tehran Electricity Distribution Company, said on August 22 that the mining devices were discovered by inspectors in different districts of the Iranian capital.

2Miners data shows that the ETC network-wide hashrate reached an all-time high of 46.04 TH/s at one point.

Nvidia's gaming revenues were down 33% year-over-year, totaling $2.04 billion. That represents a 44% decline from the first quarter. “They had expected cryptocurrency mining to make a diminishing contribution to gaming demand. But they were unable to accurately quantify the extent to which reduced crypto mining contributed to the decline in gaming demand” Nvidia Chief Financial Officer Colette Kress said on the call. Previously, Nvidia blamed its gaming business for its weaker-than-expected second-quarter revenue, and market analysis showed that it was also affected by plummeting demand for mining graphics cards.（The Block）

Bitcoin miner Argo Blockchain updated its end-of-the-year hash rate guidance from 5.5 to 3.2 EH/s. That's 41.8% down from its first-quarter results. Its hashrate was 2.2 EH/s at the end of July. "We have worked closely with ePIC and Intel to modify the machine design to increase total mining efficiency, which has delayed our expected deployment schedule," CEO Peter Wall said.（The Block）

According to Inner Mongolia Daily, Sunit Left Banner has strengthened the management of energy consumption double control, implemented orderly power consumption and energy-saving renovation for key energy-using units, and withdrawn four high-energy-consuming virtual currency "mining" enterprises, with energy consumption double control "turning from red to green". As previously reported, a total of 49 virtual currency "mining" projects in Inner Mongolia will be decommissioned in 2021.

ANTPOOL announced on its website that the ETH 2.0 merger is approaching and ANTPOOL has no plans to provide ETH Staking services that may trigger censorship risks in different countries, and will not be able to maintain users' ETH assets on the PoS chain, and invites users who have not configured their ETH wallet addresses to do so as soon as possible before 00:00 (UTC+0) on September 3. If you plan to use your existing Ethash computing power for mining Ethash algorithm coins such as ETC, ANTPOOL will continue to provide Ethash pooling services and protect your computing power and assets.

In this line, as of August 21, the total Bitcoin miners’ revenue stood at $19.65 million, a 12-month low or a drop of 61% from the $50.73 million recorded on August 22, 2021, data by Blockchain.com indicates.

Over the 12 months, mining revenue peaked on October 25 at $74.41 million during the height of Bitcoin’s bull market.（Finbold）

Van ECK Associates Corp lifted its stake in Argo Blockchain by 93.9% during the first quarter. The fund owned 365,324 shares of the company’s stock after acquiring an additional 176,951 shares during the quarter. Van ECK Associates Corp’s holdings in Argo Blockchain were worth $3,602,000 as of its most recent filing with the SEC.

In addition, other investment firms that have recently increased their stakes in Argo Blockchain include Scotia Capital Inc., First Trust Advisors LP and Gillson Capital LP.（Etfdailynews）

According to OKLink data, the balance of Ether miner addresses has now reached its highest level in three years, with a value of 254,846.35 ETH, due to the Ether merger and the impact of this year's market. over 317,000 ETH have been transferred out of miner addresses on Ether since August, worth around US$520 million at current market prices.

10.

Hut 8 Mining Corp. has signed a partnership with Zenlayer, a massively distributed edge cloud service provider, to bring industry-leading edge computing solutions to Web 3.0, blockchain, and enterprise customers.

The partnership enables Hut 8 customers to instantly deploy and run their applications using Zenlayer's edge cloud platform. Users can easily self-provision compute and networking services through APIs or an online console accessible to more than 40 countries in the world. In addition, Zenlayer's customers will now be able to tap into the Canadian market as Zenlayer deploys additional cloud regions with Hut 8 at their Kelowna and Mississauga data centres.（Investorideas）

11.

Investment bank Cowen lowered its revenue, adjusted EBITDA and mining margin expectations for bitcoin miner Marathon Digital Holdings (MARA) following sluggish second-quarter results, and warned about the company's ambitious hashrate goals.

These deals come with execution risk due to Marathon's reliance on third-party suppliers and a lack of infrastructure control, said Cowen analysts Stephen Glagola and George Kuhle said.

Reflecting those disappointing quarterly results, the Cowen team lowered its 2022 revenue estimate for Marathon to $150 million from $204 million, now below the consensus forecast for $189 million. Cowen also dropped its expectations for adjusted EBITDA to $39 million from $86 million, and mining profit to $91 million with 61% margin, down from $132 million and a 64.7% margin.

Cowen continues to rate Marathon at Market Perform, but lifted its price target to $9 from $7 following a near-tripling in the stock price over the last seven weeks to the current $14 per share.

12.

Applied Blockchain planned name change to Applied Digital. The Company’s intended name change will more accurately reflect its services and broader business offerings to serve customers that require large computing power applications. If approved by shareholders at the Company’s Annual General Meeting planned for November 10, 2022, the name change would not have an impact on strategy or operations, and the Applied Blockchain ticker symbol, “APLD,” would remain unchanged. As previously reported, crypto miner Applied Blockchain has secured a $15 million credit facility that would be used to pay off debt and build a data centre.

13.

SBI Holdings, the parent company of crypto miner SBI Crypto, said Aug. 15 in an earnings report that it was “withdrawing” from Russia. The unit was hosting its mining machines at BitRiver, a major mining company with sites across Siberia, which has been blacklisted by U.S. authorities, according to two people that familiar with the arrangement.

SBI Crypto is at least the second biggest name to emerge as ceasing work with BitRiver after the U.S. Treasury Department imposed sanctions on the mining firm in April. The other is Compass Mining, based in Austin, Texas.

As previously reported, Japan's SBI Holdings would shut down its crypto-mining operations in Russia.（CoinDesk）

14.

The Merge, german cloud provider Hetzner, reiterated its stance against allowing mining operations for both proof-of-stake (PoS) and proof-of-work (PoW) applications. Hetzner, a private, centralized cloud provider, stepped in on a discussion around running blockchain nodes, highlighting its terms of services that prohibit customers from using the services for crypto activities. However, the Ethereum community perceived the revelation as a threat to the ecosystem as Hetzner’s cloud services host nearly 16% of the Ethereum nodes, as shown below.（Cointelegraph）

15.

Russia's Irkutsk Regional Electricity Distribution Company has filed 400 lawsuits and imposed fines of nearly 100 million rubles (about $1.7 million) for illegally mining cryptocurrencies using subsidized electricity for citizens. Authorities in the region said illegal mining activities had led to a surge in electricity consumption in residential and industrial areas and caused frequent breakdowns and power outages in the region.（Bitcoin.com）

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.

Twitter: https://twitter.com/WuBlockchain

Telegram: https://t.me/wublockchainenglish