TSE Sponsored:Global Crypto Mining News (Sep 5 to Sep 11)
Colin Wu . 2022-09-12 . Mining
The government of Iran has started issuing licenses to crypto miners under the new “comprehensive and detailed” regulatory framework approved last week. The authorities previously issued licenses to a number of crypto mining operations but halted the process due to power consumption and illegal mining issues.
Reza Fatemi Amin, Iran’s minister of Industry, Mine, and Trade, said a pair of licenses are needed before an entity can start mining cryptocurrencies in Iran: an establishment license and an operating license. The former establishes the entity as a legal crypto miner while the latter allows it to actually start crypto mining.(News Bitcoin)
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Poolin mining pool: As you may have known, Poolin Wallet is currently facing some liquidity problems due to recent increasing demands on withdrawals. But please be assured, all user assets are safe and the company's net worth is positive. Though Poolin mining pool services are not much affected, to serve the goal of stabilizing liquidity and operation, we are bringing the followings ZERO fee promotions and settlement adjustments.
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Hive Blockchain provides August 2022 Production Update,290.4 BTC and 3010 ETH were mined during the month. HIVE has already commenced analysis of mining other GPU mineable coins with its fleet of GPUs, and is implementing beta-testing this week, prior to the Merge.
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Hut 8 Mining mined a total of 375 bitcoins in August, 100% of the self-mined Bitcoin in August were deposited into custody. Total Bitcoin balance held in reserve is 8,111. Installed ASIC hash rate capacity was 2.98 EH/s at the end of the month.(PRNewswire)
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Bitcoin miner Marathon Digital said it energized about 25,000 previously installed miners in August, adding about 2.5 EH/s in computing power and bringing total hashrate to roughly 3.2 EH/s. The company produced 184 BTC in August, bringing the year-to-date total to 2,222. Month-end bitcoin holdings rose to 10,311 with a fair market value of $206.7 million. No coins were sold during the month.(CoinDesk)
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Core Scientific announced production and operational updates for August. Core Scientific’s self-mining operations produced 1,334 bitcoins in August. Self-mining bitcoin production benefited from the deployment of approximately 17,000 new servers during the month. Increased curtailment activity across multiple data centers limited production advances.
The Company expanded its fleet of self-mining servers during the month to 127,716, increasing hashrate to 12.69 EH/s. The Company expects to deploy approximately 43,000 additional self-mining ASIC servers before the end of 2022. In addition to its self-mining fleet, as of August 31, 2022, Core Scientific provided data center colocation services, technology and operating support for more than 97,000 customer-owned ASIC servers.
During the month of August, the Company sold 1,125 bitcoins at an average price of $23,014 per bitcoin for total proceeds of approximately $25.9 million. As of August 31, 2022, the Company held 1,409 bitcoins and approximately $47.2 million in cash.
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f2pool released a statement saying ETH mining is estimated to terminate between 2022-09-10 and 2022-09-20. Their ETH pool will run as usual until the termination of ETH mining. After ETH mining is over, it is recommended that miners continue mining with ETC RVN CFX etc.
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The White House says the environmental impact of cryptocurrency mining such as Bitcoin could hinder U.S. efforts to combat climate change, asking federal agencies to work with states to set standards and saying the White House or Congress may eventually need to intervene. The paper says air, noise and water pollution from crypto mining can harm the environment, while the increased demand for electricity from these operations could put additional strain on an already strained power grid.
White House: "Should these measures prove ineffective at reducing impacts, the Administration should explore executive actions, and Congress might consider legislation, to limit or eliminate the use of high energy intensity consensus mechanisms for crypto-asset mining".
According to Arcane Research, listed bitcoin miners are currently struggling to operate due to plummeting bitcoin prices, upward adjustments in mining difficulty and rising energy prices. An analysis of the eight listed miners using the quick ratio, which measures the solvency of current assets and is equal to cash equivalents/current liabilities, shows that six of them have seen their quick ratios decline since March 31.
Bitmain will release Antminer KA3 on September 13. No data has been disclosed yet. The KDA price peaked at $24 in November 2021 and today it is only $1.56.
BitNile Holdings, Inc. announced that its subsidiary, BitNile, Inc.(BNI), has entered into a contract with Bitmain,to purchase an additional 1,325 S19j Pro Antminers. With this new contract, BNI has agreed to purchase a total of 21,925 Bitcoin miners.
The Company’s Founder and Executive Chairman, Milton “Todd” Ault, III stated, “I believe the long-term outlook for Bitcoin is positive and am pleased to be in a position to invest in additional Bitcoin mining equipments to expand our cryptocurrency mining operations.”(Businesswire)
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Bitcoin miner CleanSpark bought 10,000 Bitmain Antminer S19j Pro mining machines at a "significantly discounted" price of $28 million, adding to over 6,200 rigs it previously acquired from June to August. The new miners will be delivered between October and early November, the company said on Wednesday. The company now has 37,000 operational bitcoin mining machines, producing as much as 14.9 BTC a day with a total hashrate of 3.8 EH/s.(TheBlock)
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Bitcoin miner CleanSpark agreed to purchase competitor Mawson Infrastructure Group’s (MIGI) mining facility in Sandersville, Georgia, and 6,468 latest-generation mining rigs for as much as $42.5 million. CleanSpark will pay for the acquisition with $26.5 million in cash, $11 million worth of common stock, $3 million in promissory notes and $2 million in future proceeds.
The deal is expected to add 1.4 EH/s to CleanSpark’s computing power before year-end, bringing the company’s hashrate to 5.2 EH/s . Another 2.4 EH/s are expected to be added in early 2023 and 7.0 EH/s by the end of next year, according to the release.(CoinDesk)
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Binance’s mining pool Binance Pool on Thursday said it will support the Ethereum Classic (ETC) as Ethereum switches to proof-of-stake (PoS) after the Merge. Also, Binance Pool is offering “zero” mining fees service for ETC mining until October 9.
Binance Pool is among the top mining pools in the world. Currently, Binance Pool is the 7th-largest mining pool for ETC mining and ranks 12th in Ethereum (ETH) mining. The mining pool will support ETC mining. Binance Pool is offering zero fees for ETC mining from September 9 to October 9. Users need to complete identity information in order to participate and receive rewards in their mining account.
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Recently, the police in Yichang, Hubei Province, jointly carried out a multi-departmental campaign to combat virtual currency "mining" and seized more than 230 virtual currency "mining machines" on site. The police cut off the electricity by blocking the network and ordered the virtual coin "mining" practitioners to remove the "mining" equipment.
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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