Global Crypto Mining News (Jan 2 to Jan 8)
Colin Wu . 2023-01-09 . Mining

In 2022, Core Scientific ($CORZ), Riot Blockchain ($RIOT), Bitfarms ($BITF), Iris Energy ($IREN), and CleanSpark ($CLSK) traded down 99%, 85%, 91%, 92% and 79%, respectively. Mining bitcoin became less profitable as hashrate stubbornly trudged upward while bitcoin’s price tumbled and mining companies’ treasury management strategies failed.(CoinDesk)

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According to, Bitcoin has seen a mining difficulty adjustment at block height 770,112, with a slight 3.59% decrease in mining difficulty to 34.09 T. The current network-wide average hashrate is 243.66 EH/s.


Riot Blockchain is rebranding its name to Riot Platforms to reflect the company’s diversified business operations. Hosting provider Applied Digital, formerly known as Applied Blockchain, similarly dropped the word “blockchain” from its title to reflect its shift away from being completely crypto-focused.(The Block)

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Bitcoin miner Stronghold reached an agreement with noteholders that will see $17.9 million of debt be turned into equity. The notes will be extinguished in exchange for a new series of convertible preferred stock with a face value of about $23.1 million. The company expects the deal to close in February and reduce its debt to less than $55 million. The new shares will be convertible into common stock at a price of $0.40 per share.(The Block)

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Celsius Network LLC has agreed to let Core Scientific Inc. shut off more than 37,000 crypto mining rigs, resolving a months-long conflict. According to court documents, Celsius owes Core Scientific more than $7.8 million, and shutting down the equipment could save Core Scientific thousands of dollars a day.


Cumulative Ethermine Gas consumption in 2022 is 1,764,061 ETH, with the head GAS consumption addresses being the withdrawal hotwallets of each CEX and the verified addresses of Optimism and Arbitrum, in addition to the withdrawal address of Ethermine, once the largest Ethermine mining pool. 2022 GAS consumption is trending downwards.


Bitcoin miner Hut 8 produced 161 bitcoins in December 2022, for a cumulative total of 3,568 bitcoins in 2022. 100% of Hut 8’s self-mined bitcoins were held in escrow in December, and as of December 31, 2022, Hut 8 had a total of 9,086 bitcoins in reserve, a 65% increase from the end of 2021.

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Russian Minister of Energy Nikolay Shulginov has recognized the increased demand for electricity from cryptocurrency miners in some parts of Siberia. Russian authorities are considering the further development of the energy networks used by mining companies and the construction of more power plants. “The position of the Ministry of Energy has always been based on the need to create working conditions for mining,” the government official emphasized.

Meanwhile, demand for electricity in residential areas continues to grow, after local authorities dropped a proposal to impose higher tariffs on Russians who mine at home. (

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Bitcoin mining revenue was down to $9.55 billion in 2022 from $15.3 billion in 2021 — a 37.5% decline. The miner’s daily revenue has fallen sharply to $16.173 million — down from $63.548 million on Nov. 10, 2021.

According to Hashrate Index, the debt-to-equity ratio more than tripled for many mining firms, indicating greater financial leverage. Core Scientific has the highest debt-to-equity ratio at 26.7, followed by Greenidge and Stronghold at 18 and 11.1, respectively. Argo also has a high debt-to-equity ratio of 8.7.(CryptoSlate)

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Bitcoin miner Digihost announced that it mined a total of about 832 bitcoins in 2022, an increase of about 60% compared to 2021 (521 bitcoins). At the end of December, Digihost held a total of 111.32 BTC (worth approximately $1.84 million), 800.89 ETH (worth approximately $960,000) and approximately $1.82 million in cash.(Globenewswire)


Bitcoin miner Marathon released a bit production and mining operations update: 475 BTC output in December 2022, 1,562 BTC output in Q4 2022, and 4,144 BTC output for the year, up 30% from 3,197 BTC in fiscal 2021.

The company’s total bitcoin holdings have now increased to 12,232 BTC, with approximately $103.7 million in unrestricted cash on hand. In addition, the company still expects to reach a hashrate of approximately 23 EH/s around mid-2023.


During the December 2022 winter storm in Texas, multiple bitcoin miners returned up to 1,500 megawatts of power to the struggling local grid. Texas Blockchain Council President Lee Bratcher commented that this is enough power to heat over 1.5 million small homes or keep 300 large hospitals in full operation.(Cointelegraph)

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