Global Crypto Mining News (May 1 to May 7)
Colin Wu . 2023-05-08 . Mining

BIT Mining Limited announced the launch of the latest generation of its popular Dogecoin / Litecoin mining machine, model LD4. The power efficiency metric of 0.71 W/MH is about one-half of the performance metric of the BitTorrent L7.

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Luxor has developed a new method for estimating changes in the difficulty of the Bitcoin network, called the “rolling block method”, which claims to improve the accuracy of predicting future difficulty adjustments by taking into account the complex relationship between Bitcoin hashrate, mining luck value block time.

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Jack Dorsey’s company, Block, has just completed the design of a 5nm Bitcoin ASIC chip and will proceed with wafer production. They are expected to receive the chips in autumn this year and continue working on 3nm chips. Block plans to open-source its Bitcoin mining technology.

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The investment arm of the Bhutanese government started mining a few years ago as one of the early entrants, when bitcoin was around $5,000. Bitdeer disclosed that it is negotiating to provide 100 megawatts of power for a bitcoin mining data center in Bhutan, which is scheduled to break ground this quarter.

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Listed miners have been selling more than 100% of their bitcoins from mining during most of the second half of 2022, but dropped below 100% in March and further to 95% in April. Ten listed bitcoin mining companies have now issued monthly updates for April, with hashrate reaching 58.6 EH/s, or 17.1% of last month’s bitcoin block rewards.


The White House Council of Economic Advisers (CEA) said in an online post Tuesday that President Joe Biden is seeking a 30 percent punitive tax on crypto-mining operations because “they harm society. energy prices, and increased greenhouse gas emissions. The Republican-controlled House is unlikely to support a tax that penalizes the industry.(CoinDesk)

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GOP presidential candidate Kennedy made several points about the crypto-asset industry in the early stages of his 2024 presidential campaign. “It’s a mistake for the U.S. government to restrict the cryptocurrency industry and push innovation elsewhere,” and “Biden’s proposed 30 percent tax on cryptocurrency mining is a bad idea.”(CoinDesk)

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The Kazakh government has collected nearly $6.9 million in taxes from the country’s cryptocurrency miners in 2022, which has been collected since January 1 of last year. In addition, the Ministry of Finance said the crypto tax for the first quarter of 2023 must be paid by May 25, and as of April 27, it had received $540,000.

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Listed miners have been selling more than 100% of their bitcoins from mining for most of the second half of 2022, but dropped below 100% in March and further to 95% in April. Ten listed bitcoin mining companies have now released their monthly updates for April, with 58.6 EH/s of computing power, or 17.1% of last month’s bitcoin block rewards.


Haru Invest, a digital asset management platform, today announced the launch of its crypto mining product Haru Mining in partnership with Canadian crypto miner Haru Mining represents a strategic expansion of Haru Invest’s suite of digital asset investment services.(PR Newswire)

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Miner Stronghold Digital (SDIG) will host 4,000 mining machines, supplied by CAN’s subsidiary Cantaloupe Digital, with 2,000 A1246 and 2,000 A1346 mining machines providing a total capacity of 400 PH/S. The A1246 mining machines will be installed on May 15, while the The A1246 miners will be installed on May 15 and the A1346 miners will be installed one month later.

Stronghold CEO Greg Beard said that since August, Stronghold has purchased about 22,000 miners at a cost of $15 million and a capacity of 2.2 EH/s.(CoinDesk)

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Iris Energy said it increased its Bitcoin creation in April by 85% from the previous month, mining 319 Bitcoin. In its monthly investor update, the company said its average operating rate increased 107% month-over-month to 3,965 PH/s in April while its monthly operating revenue more than doubled, up 109% at US$9 million.

Further, the company noted that its increase in self-mining capacity to 5.5 EH/s is complete. To facilitate additional growth beyond this 5.5 EH/s, Iris said it acquired 200 of the latest generation Bitmain S19 XP miners for testing across its sites.(Proactive Investors)

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Bitcoin miner TeraWulf announced that its hashrate increased 21% to 4 EH/s in the first quarter of 2023 as of April 30. TeraWulf produced 239 bitcoins in April and 771 bitcoins so far in 2023. in April, TeraWulf advanced its Nautilus facility to In April, TeraWulf moved ahead with the full deployment of 50 MW of self-mining capacity at the Nautilus facility.(Businesswire)

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