Global Crypto Mining News (Sep 26 to Oct 2)
Colin Wu . 2022-10-03 . Mining

Bankrupt bitcoin mining hosting provider Compute North, a crypto miner that filed for Chapter 11 bankruptcy protection last week, received approval to operate its cash management system, pay insurance obligations and file a list of its creditors. The firm is also approved to redact the address information of its employees, directors, and contractors. The subsequent filings will also set key dates for the case and start the firm on a path to considering how to repay certain debts.(The Block)
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A new solar powered bitcoin miner, Aspen Creek Digital Corp. (ACDC), raised $8 million in a Series A funding, led by crypto financial services company Galaxy Digital and blockchain investment firm Polychain Capital. “ACDC’s use of renewable energy and ability to sell excess power back to the grid particularly attracted Polychain Capita,” PolychainCapital founder Olaf Carlson-Wee, said.(CoinDesk)
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According to Bloomberg, Jihan Wu is setting up a $250 million fund to buy distressed assets from Bitcoin miners, as the industry reels from this year’s steep drop in digital-asset prices. With the industry in a slump, highly leveraged miners are selling assets such as mining rigs at a steep discount to better-capitalized peers.
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According to, Bitcoin has seen a mining difficulty adjustment at block height 756,000, with the mining difficulty dropped to 31.36T, the first time the difficulty has been lowered in nearly two months. The current average network-wide count is 224.41 EH/s.
Russian banks and the Finance Ministry have agreed on a draft law on cryptocurrency mining, Russian media RBC reported. Anatoly Aksakov, head of the Russian Duma's Financial Markets Committee, noted that the bill will allow cryptocurrency mining only in energy-rich regions, and that it should be banned in regions with energy shortages. Energy-rich regions are those with hydroelectric and nuclear power plants.
Bitcoin mining company Rhodium Enterprises is planning to list on the Nasdaq following a merger with SilverSun Technologies Inc., a business application, technology and consulting company. The transaction is expected to close by the end of this year, and SilverSun's board of directors will remain in place. Rhodium had approximately 125 megawatts of mining capacity at its initial Texas site, according to an SEC filing for the IPO filed in January.(The Block)
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Cryptocurrency mining company Integrated VenturesInc released its annual report, reporting a significant increase in revenue compared to 2021, with revenue of $1,851,390 increasing to $6,550,133, an increase of 254%. Revenue from mining operations was $4,871,473 compared to $1,793,316 in 2021, an increase of 172%. The remaining revenue was from equipment resale operations of $1,793,316 in 2022 compared to $58,074 in 2021 while gross profit was $2,731,743 in 2022 compared to $931,014 in 2021.(PRNewswire)
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According to the official announcement, Binance Pool has officially launched the Ethereum Proof-of-Work (ETHW) mining service.
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Bitcoin miners across Europe are fleeing to the northern parts of Norway and Sweden to cut power costs as energy prices skyrocket on the continent and bitcoin flatlines. Natural gas prices reached a record high of 321 euros ($309) per megawatt-hour (mWh) in August, compared with 27 euros a year ago. Energy in the northernmost parts of Norway and Sweden is as much as 10 times cheaper than in the southern parts of those countries.
Fiorenzo Manganiello, founder of Switzerland-based Cowa Energy, said that in southern Norway “it’s impossible” to mine given the high energy prices. The current macroeconomic situation has been a “disaster” for the mining industry in Europe, he said.(CoinDesk)
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Filecoin FIP-0036, a proposal to "introduce industry term multiples to achieve long-term industry commitment", was voted down by the community, with 44% of token holders, 35% of miners and 67% of core developers rejecting it.
It is reported that the proposal includes increasing minimum sector duration time from six months to 1 year, increasng the maximum sector duration time from 1.5 years to 3.5 years, introducing a Sector Duration Multiplier for all sectors, regardless of deal type and increasing Sector Initial Consensus Pledge from 30% to 50%.
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Crypto hosting and mining company Core Scientific (CORZ) has the scale and experience to make it through the bitcoin (BTC) market downturn, Compass Point analyst Chase White told clients in a note Tuesday.
White also wrote that Core has sufficient access to capital with its monthly production of bitcoin and its equity line of credit to fund its operations and debt through the end of next year. Core’s third-party hosting business also generates revenue that is less correlated to bitcon's prices, White added. Compass Point initiated research coverage on Core with a buy recommendation and $4 price target.(Coindesk)
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Top Speed Energy ( 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:, 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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