Global Crypto Mining News (Dec 12 to Dec 18)
Colin Wu . 2022-12-19 . Mining

TeraWulf Inc. announced that it has successfully restructured its previously announced purchase agreement with Bitmain. The parties have agreed to cancel TeraWulf’s December 2022 batch of approximately 3,000 S19 XP Pro bitcoin mining machines and, together with the application of remaining unused deposits with Bitmain, replace that batch with approximately 14,000 S19j Pro miners for delivery. Their targeted average power cost of $0.035/kWh.

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Cryptocurrency mining firm Argo Blockchain has been notified by the Nasdaq stock exchange’s regulatory department that it has not met the minimum bid price as the closing bid remained below $1.00 for 30 consecutive days.

According to Nasdaq rules, Argo has to regain compliance with the minimum bid price requirement for its Company’s American Depositary Shares (ADS) before 12 June 2023.

If at any time before 12 June 2023, the bid price of the ADSs closes at or above the threshold $1.00 mark per share for a minimum of 10 business days, Nasdaq will provide a Notification letter informing the firm that it has achieved compliance with the minimum bid price requirement. The Notification Letter will not affect Argo’s business operations.(Cityam)

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JASMINER has adjusted the price of its X4-Q product to $1.80/M per megabit and launched its new generation of miners, the JASMINER X16 series. Powered by next-generation mining ASIC technology, the new X16-Q offers enhanced computing power and power efficiency over its predecessor, with a hashrate of 1845MH/s and a power efficiency of 0.34J/MH.


Japan’s major utility Tokyo Electric Power Company (TEPCO) has partnered with mining equipment maker TRIPLE-1 with plans to use excess power on its grid for cryptocurrency mining. This comes after TEPCO set up a subsidiary called Agile Energy X in September with the aim of using excess electricity to create digital value, including mining cryptocurrencies.

Meanwhile, on Wednesday, TEPCO and Agile Energy X officially signed on with TRIPLE-1 to develop distributed data centers across the country, combining excess renewable energy and TRIPLE-1’s semiconductors to create new value.


Bitcoin mining company Bitfarms received a warning notice from Nasdaq on Dec. 13 that because the closing price has been below $1 per share for 30 consecutive business days, the company has a grace period of 180 business days, and a closing price of at least $1 for at least 10 consecutive business days will lift the warning.

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Bitcoin miner CleanSpark, lowered its year-end 2023 hashrate and computing power guidance to 16 EH/s, from 22.4 EH/s previously, citing delays in building a mining facility by one of its partners, Lancium. CleanSpark said that its fourth-quarter revenue rose 235% compared to the same period last year. Meanwhile, its net loss widened by 683% year over year, mainly due to the impairment of goodwill and bitcoin balances as well as non-cash charges caused by modification of equity instruments, the company said in the statement.(CoinDesk)

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B. Riley Financial is proposing a $72 million financing package to extend Core Scientific’s runway by more than two years and help the firm stave off bankruptcy. As previously reported, Core Scientific is on the verge of bankruptcy after being hit with a lawsuit for failing to disclose unfavorable financial conditions to shareholders.(The Block)

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Microsoft updated its service terms this month to prohibit crypto mining without written approval. The update came into effect on Dec. 1 and applies to all users, including Microsoft’s paid customers. Previously, Google has updated the same terms. (The Block)

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Beijing Municipal Development and Reform Commission and other 11 departments on the issuance of Beijing to further strengthen the implementation of energy conservation (2023 version) of the notice. The notice includes: the implementation of national requirements, continuous remediation of virtual currency “mining” activities, strengthening the monitoring and analysis of “mining” activities, classification and rectification, and resolutely cleaning up the city’s virtual currency “mining” activities in accordance with the law.


A number of hedge funds, including Eric Sturdza Investments, have begun to increase their shorting of crypto mining stocks as cryptocurrency prices sink and energy prices rise.

Short interest in US group Marathon Digital, one of the largest US listed miners, rose sharply again last month to more than 36 per cent of the outstanding shares in the weeks after FTX collapsed, according to data from Nasdaq.

Funds have also more than doubled their bets against Stronghold Digital Mining — whose shares are already down 96 per cent this year — to nearly 10 per cent of the shares since the start of the year. Short interest in Greenidge Generation has risen from less than 1 per cent to 4.7 per cent, while Hut 8 Mining and Riot Blockchain, the largest US listed operator, have also attracted more attention from short sellers this year.(Financial Times)

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Crust Network, an IPFS-based decentralized storage solution, announced the launch of Arbitrum, a decentralized storage solution that allows Arbitrum users and developers alike to enjoy more than 750,000 TB of decentralized storage capacity through Crust Network’s 1,700+ independent nodes. Crust Network is reportedly an IPFS incentive layer protocol designed to build a decentralized storage network for the Web 3.0 ecosystem, funded by Decentralized Cloud Foundation.

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