TSE Sponsored：Global Crypto Mining News (Aug 29 to Sep 4)

Ethermine, the largest ethereum mining pool, has launched Ethermine Staking, an investment based on ETH_STORE with a minimum investment of 0.1 ETH. Ethermine says that ETH_STORE is an objective and transparent reference rate based on the Ethereum Proof-of-Stake. This investment allows Bitfly to provide an alternative to the existing pledge service after the end of the Ether PoW mining phase.

According to BTC.com, Bitcoin saw a mining difficulty adjustment at block height 751,968, with a significant 9.26% increase in mining difficulty to 30.98T -- the largest increase since Jan 21st, 2022. The current network-wide average hashrate is 221.72 EH/s.

Two Georgia facilities used by Compass Mining are closing as power costs in the U.S. state soar. The operator is hosting a total of 8,000 machines, or 25 MW, for Compass. The owner of the sites is shutting down because the local utility provider has increased prices, a major cost for bitcoin mining, by more than 50%, Compass co-CEO Thomas Heller said.（CoinDesk）

The ETC firmware of Antminer E9 has been released on the Bitmain website, supporting AntPool, Poolin and f2pool. Previously, CorePower has also released ETC firmware for A10pro 500M and A10pro 720M ETH miners.

Gaurav Budhrani, the CEO of crypto miner PrimeBlock, has left the company, according to people familiar with the move. Previously, in August this year, PrimeBlock cancelled its IPO plans and terminated its merger with 10X Capital. The reasons for the cancellation of the SPAC deal and the departure of Gaurav Budhrani are not yet clear, and may be related to unfavorable factors such as the downturn in the crypto market and reduced profits in the mining industry.（CoinDesk）

Meco Limited unveiled the much-anticipated Ultimate Solar Power System (a solar power system with amazing backups and cryptocurrency miners) at an elite launch event at the Hong Kong Technology Bureau. However, its press release shows obviously false data, with its three bitcoin miners hashrate of 4850T, 450T, 650T and power consumption of less than 2000 watts, which is suspected to be fraudulent.

German Bitcoin miner Northern Data AG is considering a proposal to buy back shares in a program valued in the tens of millions of euros, according to people familiar with the matter. The company may introduce the share repurchase plan at its annual shareholder meeting in October. And the company's share price has fallen 70% so far this year.（Bloomberg）

OKLink data shows that the balance of ETH in Ether miner addresses surpassed 260,000, rebounding to the same level in April 2018, reaching a four-year high. The total number of ETH in all miners' addresses on the chain as of today is 261,848, or about $415 million at current prices.

A recent shareholder vote to reject a major Riot Blockchain advisory vote on executive compensation. The proposal would pay more than $90 million to five Riot executives.

CEO Jason Les and executive chairman Benjamin Yi were slated to receive about $21 million each. Even the lowest paid executive, general counsel William Jackman, was in line for a $13 million remuneration. The motion was designed to retain talent and ensure the achievement of long-term strategic goals.

“These more excessive executive compensation practices (amongst RIOT and its peers) might lead to pressure on peer companies in the digital assets industry to provide similarly large awards, in the absence of shareholder pushback,” VanEck’s analysts wrote.

The IT industry counted median total direct compensation of $2.2 million in 2022, according to VanEck. Riot other crypto mining companies paid out median compensation of $10.8 million — 390% more than the IT sector.（Blockworks）

10.

Crypto miner Bitfarms mined a total of 534 bitcoins in August, a 7% increase from the previous year. In addition, Bitfarms said it was nearing completion of its first 50 MW facility at its Rio Cuarto facility in Argentina.

11.

According to glassnode data, ETH miner revenue just reached a 1-month low of $779,311.36. Previous 1-month low of $785,384.98 was observed on August 27, 2022.

12.

Poolin founder and CEO Pan Zhibiao responded to the recent "difficulty in withdrawing coins" issue in a post on social media, saying that the situation was caused by a lack of liquidity and that the funds were safe, and that Poolin's corporate net worth was currently positive, and that possible solutions including liquidity debt, debt-for-mining machines, and debt-for-shares would be proposed in the near future.

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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