Global Crypto Mining News (Oct11 to Oct 17)
Colin Wu . 2021-10-24 . Mining

According to the Cambridge CCAF Financial Center, the latest data shows that as of the end of August, the United States accounted for 35.4% of the global Bitcoin hashrate, more than double the 16.8% at the end of April. Kazakhstan and Russia followed closely behind with 18.1% and 11% (up from 8.2% and 6.8% in April). According to CCAF, China's share "has actually dropped to zero." ​​​​


According to the report from the biggest mining pool in North America and the fifth-largest in the world, many of the Bitcoin miners are converging in states with access to renewable energy as 19.9 percent of BTC hash rate is in New York, Kentucky has 18.7 percent, 17.3 percent in Georgia and Texas has 14 percent.

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On October 14 AntPool announced that it will stop accessing IPs in mainland China from the 15th and go online with KYC system to comply with the laws of each country.

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 In order to be compliant with the latest regulatory policy of Chinese government, will stay out of the Chinese market from October 15 and onwards, which will not provide mining service for miners from mainland China. Measure are as follows:

New users in mainland China are not allowed to sign up on pool.

From October 15,2021, we will shut down mining services in mainland China orderly.

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On October 15 f2pool made an announcement that due to the recent development in local regulation, f2pool has previously ceased providing mining pool services in mainland China. We plan to complete the shutdown process to users in China, excluding Hong Kong, Macau, and Taiwan, by 2021-12-31 16:00 UTC. If we detect a user is from mainland China, the account will become inaccessible to the mining pool services within 14 days. Pending payouts will be sent automatically as usual before the deadline. If you have not filled in a payout address, please do so at your earliest convenience before 2021-12-30.

f2pool has previously ceased services in Burundi, Central African Republic, Congo, Cuba, Iraq, Iran, North Korea, Lebanon, Libya, Sudan, Somalia, South Sudan, Syria, Yemen, and Zimbabwe. We will continue to make our services compliant with regulations in different countries, secure Bitcoin in good faith, commit to the decentralization of the network, and transform ourselves into a geo-neutral operation.

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On October 16, GasNow, the Ether Gas Price quoting system of Starfire Mining Pool, officially ceased all services. This follows the announcement that Starfire Mining Pool, the number one Ether pool, has ceased operations.


According to the official Filecoin release rules, Filecoin will see its second reduction on October 15, 2021. After the first reduction on April 15, 2021 FIL6 was released with a 43% reduction in circulation; after October 15, FIL12 will also expire with an expected 23.8% reduction in daily releases.


Tim Beiko, community manager of the EtherFoundation, said on October 16 that the EtherFoundation difficulty bomb was postponed to June 2022 (EIP4345) in the latest EtherFoundation developer core conference call. However, the difficulty bomb is affected by the network hash rate, for example, if the network hash drops, then the difficulty bomb may be advanced by several weeks, but the possibility of postponing the difficulty bomb again in the future cannot be ruled out.Meanwhile the community expects to complete the code coding related to POS merger in February next year, and then use 4 months to prepare for POS merger related.


Twitter founder Jack Dorsey tweeted that its payments company Square is considering building a bitcoin mining system based on a custom chip and open source format for individuals and businesses around the world. If Square decides to do so, it will be built in the same open source format as its hardware wallets in collaboration with the community, with the following issues to consider:

1.Mining needs to be more decentralized. Is it true that the more decentralized you are, the more resilient the Bitcoin network will be?

2. Mining needs to be more efficient. Energy is a systemic problem that requires innovation in chips, software and integration, what are the biggest opportunities here?

3. Chip development is very expensive and requires long-term investment, preferably tightly integrated with software and system design, why aren't more companies engaged in this work of chip development?

4. Considering that mining systems are divided into hardware, software, productization and distribution, would it be better to think of them as individual systems that would What is the biggest obstacle to running a miner?

5. Not everyone can mine, and individuals are not motivated enough to overcome the complexity of running a miner themselves?

Jack Dorsey also said his team will begin the in-depth technical investigation required for the project and will issue status updates as decisions are made.


Comparative Studies,Issue 4, 2021, compiled and disclosed Zhou Xiaochuan's keynote speech at the Lujiazui Forum on June 11, 2021: In it, Zhou mentioned that when the discussion came to the cryptocurrency sector recently, the Chinese leader raised the question of what exactly is the benefit to the real economy when so much electricity is used on top of bitcoin mining? This questioning is especially true when some cryptocurrencies have been divorced from the payments industry and turned into purely a digital asset. The above has not appeared in previous public reports.


Bitcoin mining firm Bitfury is making ready to go public in what could be Europe’s largest cryptocurrency valuation, in keeping with a report by The Telegraph. BitFury has now commissioned an audit by Deloitte. The Telegraph says BitFury's IPO will be the largest IPO of a cryptocurrency company in Europe to date, with the company valued at $1 billion in its last round of funding and potentially billions of pounds.

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Bitfarms announced the signing of a contract and the start of construction of a 210 MW facility in Argentina that is expected to accommodate over 55,000 miners. "The Argentina facility plans to use electricity to produce bitcoin at an attractive price of just 2.2 cents per kilowatt hour, thereby significantly reducing our already low cost of bitcoin mining."

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CleanSpark announced its purchase of 4,500 units of the Antminer S19 bitcoin (BTC) mining machine. The purchase was partially funded through a portion of the Company's BTC holdings. Delivery of the machines are scheduled to start next month and be completed by July 2022. 

CleanSpark estimates that its sustainable bitcoin mining capacity will increase by a computing power of 450 PH/s, equivalent to almost 45% of the Company's current capacity, after the purchased machines are fully operational. The Company currently operates over 10,000 miners. The total number of miners slated for delivery over the next 12 months is now 24,580.

CleanSpark acquired its second data center in Georgia for $6.6 million in August and announced in September that it will invest $145 million to convert the data center into a carbon-neutral mine.

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According to Yahoo Finance, Digital announced that it has signed agreements with Bitmain to purchase 10,000 Bitcoin mining hardware. The announced purchases are expected to increase Bit Digital's miner fleet hash rate by over 1.0 EH/s. The current share price of Bit Digital is $11.86, with a market cap of $650 million.

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Energy consumption levels in Russia's Irkutsk Oblast have increased by 159 percent this year compared to 2020, Bnnbloomberg reports. In a letter to Russian Deputy Prime Minister Alexander Novak, Governor Igor Kobzev called for higher electricity rates for miners, arguing that the grid is overloaded and at risk of emergencies.

Irkutsk Oblast relies heavily on hydroelectric power and has some of the cheapest retail electricity in Russia. It was already a local center for energy-intensive bitcoin mining before China banned crypto mining, a problem exacerbated by the relocation of Chinese miners.

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