Author | Wu Blockchain blockchain
Sponsored by Bitdeer, a Nasdaq-listed mining company
1.
Bitdeer announced on September 26 that its latest bitcoin mining chip, SEAL02, has completed testing. In cooperation with TSMC, the SEAL02 chip exhibits an energy efficiency ratio of 13.5 J/TH when running in low-voltage, ultra-energy-saving mode. The SEAL02 chip will be integrated into Bitdeer's upcoming SEALMINER A2 mining machine, which is expected to be put into mass production by the end of 2024. At the same time, the research and development of the next-generation SEAL03 chip is progressing in an orderly manner.
2.
In an interview with analysts at research and brokerage firm Bernstein, Adam Sullivan, CEO of Core Scientific, said that Bitcoin miners could achieve "exponential" growth with its AI data center services in the coming years. This depends on whether the company can prove its ability to deliver gigawatt-scale AI data centers to customers beyond its initial customer CoreWeave. "Signing another 500MW or 1GW of deals in the next few years will take us from being a $2.5 billion company to potentially a $25 billion to $30 billion company," Sullivan said.
3.
Agile Energy X, a wholly owned subsidiary of Japanese power giant Tokyo Electric Power, is trying to use renewable energy to mine Bitcoin and install Bitcoin mining machines near solar power plants. Agile Energy's simulation results show that if renewable energy accounts for 50% of Japan's electricity supply, 240,000 gigawatt hours of electricity will be wasted each year due to power rationing. If 10% of the remaining electricity is used for Bitcoin mining, about 360 billion yen (US$2.5 billion) of BTC can be generated each year.
4.
Russian President Vladimir Putin delivered an important speech at the plenary session of the 8th Eastern Economic Forum, officially confirming for the first time that Russia has become one of the world's leaders in Bitcoin mining. According to data from Sergey Bezdelov, chairman of the Industrial Mining Association, Russia's Bitcoin production reached 54,000 in 2023, contributing more than $550 million in tax revenue to the country. In his speech, Putin clearly pointed out: "Russia is currently one of the world's leaders in mining, which stems from the surplus energy production capacity in Siberia."
5.
Bitcoin mining company CleanSpark announced that it has acquired seven mines and related land in the Knoxville area of Tennessee for $27.5 million. The total computing power of the facilities is expected to reach 5 EH/s, increasing CleanSpark's existing computing power by more than 22%. The transaction will be completed by September 25, with a total mining scale of 85 MW, and a single mining scale of 10 MW to 20 MW. CleanSpark CEO Zach Bradford said the company plans to achieve a total computing power of 37 EH/s by the end of 2024, and will begin installing the latest S21 Pro mining machines in the next few weeks to fill the acquired mines. (The Block)
6.
Bitcoin mining company Marathon Digital Holdings announced that its BTC holdings increased to 26,200. In August this year, Marathon Digital Holdings announced that it had purchased 4,144 BTC for $249 million.
7.
Dennis Porter, co-founder of Satoshi Action Fund, tweeted that after a Norwegian town banned Bitcoin mining, the electricity bill per household increased by $300, an increase of more than 25%. After the ban was implemented, the decline in electricity demand in the area caused the remaining users to bear higher electricity costs to make up for the loss of income caused by the withdrawal of mining companies. Users pay not only for electricity, but also for the use of power infrastructure. This change has raised concerns about the cost sharing of power infrastructure.
8.
Bitcoin mining company Bitfarms announced a hosting agreement with Stronghold Digital Mining to add 10,000 Bitmain T21 mining machines to its Panther Creek mining facility in Pennsylvania, and start operations on October 1, 2024, which will increase Bitfarms' computing power by 2.2 EH/s. In addition, Bitfarms will pay Stronghold a fee equivalent to 50% of the profits generated by the mining machine hosting agreement, and the agreement will be renewed annually until either party decides not to renew the contract. (Cointelegraph)
9.
Bitcoin mining company Cathedra Bitcoin is stopping its seven-year mining operations and adopting a new strategy: buying as many Bitcoins as possible on the open market like MicroStrategy. Cathedra Bitcoin explained that under the new plan, "all capital allocation decisions" will now be made on a per-share basis to maximize the company's Bitcoin reserves, which is also the "most important" metric that many major shareholders pay attention to.
10.
Bitcoin mining company Cleanspark announced that it has acquired two Bitcoin mines and related land near Clinton, Mississippi. According to the press release, the total price of these acquisitions is US$5.775 million and will support a total of 16.5 megawatts of electricity. The mines will be delivered to Cleanspark in turnkey mode, with an estimated completion date of December 1. The mine will be installed with S21 pro mining machines, with an estimated total computing power of approximately 1 exahash per second (EH/s). The addition of these new mines will bring Cleanspark's data center portfolio in Mississippi to 60.5 megawatts. Cleanspark has been frequently engaged in acquisition activities recently. Last week, it acquired seven mines and related land in Knoxville, Tennessee for US$27.5 million. (The Block)
11.
According to Lookonchain, a Bitcoin miner wallet that had been dormant for 15.7 years has just woken up and transferred out 50 BTC, worth about $3.05 million. The miner wallet obtained these 50 BTC through mining on January 30, 2009. Subsequently, another Bitcoin miner wallet that had been dormant for 15.6 years transferred out 50 BTC worth about $3.19 million. In addition, in the past hour, three other miner wallets that had been dormant for more than 15 years each transferred 50 BTC. These five wallets all received 50 BTC mining rewards in 2009, and 250 BTC were transferred through five separate transactions, with a total value of nearly $13 million. It is not clear whether these wallets all belong to the same person or entity.
12.
Arkham announced that it has marked more than 1,250 Bitcoin addresses used by Core Scientific for mining, storage, and transmission. Core Scientific has mined more than $710 million in Bitcoin since the beginning of 2023 and is the world's second-largest publicly traded Bitcoin miner.
13.
BTC.com, a 9-year mining service provider, announced today that it will upgrade its brand and unify its brand name to CloverPool. Founded in 2015, BTC.com provides a variety of services such as multi-currency mining pools, block browsers, data services, and mining tools. In addition to the name change, CloverPool also announced that it will soon launch a hardware trading service.
14.
Green United LLC has failed to dismiss a lawsuit filed by the U.S. Securities and Exchange Commission, which accused its executives of operating a fraudulent cryptocurrency mining scheme that defrauded investors of $18 million. Defendants Wright Thurston and Kristoffer Krohn allegedly falsely sold nonexistent mining equipment, promoting "green boxes" and "green nodes" as tools for mining GREEN tokens. Judge Ann Marie McIff Allen ruled that the defendants failed to refute the SEC's allegations and refused to dismiss the fraud charges against Thurston, noting that investors' GREEN token allocations relied solely on Thurston's personal decisions.
15.
Macquarie has given "outperform" ratings to several Bitcoin mining stocks, including MARA, Riot Platforms, Core Scientific, CleanSpark and Cipher Mining, citing the companies' increasing shift from crypto-specific businesses to AI and high-performance computing (HPC) models. Macquarie believes that several mining companies will benefit greatly in the long term as the shift to HPC accelerates. Analysts also noted that while it is still early days for operating AI cloud products in Bitcoin miners' facilities, these companies have the potential to play an important role in the AI computing market. (The Block)
16.
Revolve Labs, a Bitcoin mining hosting service provider, withdrew its proposal to build a Bitcoin mining facility in Windom, Minnesota, due to opposition from residents. Previously, the company planned to build a mining facility in the area, providing local services for $35,000 per month and expected to stabilize electricity prices over the next three years. However, the project was resisted by about 100 residents who were concerned about noise pollution and damage to property values.
17.
Crypto mining company BitDeer (NASDAQ: BTDR) recently completed a second-hand mining machine auction on its official website, auctioning 2,880 Antminer S19s in its Norwegian mine, with a total rated computing power of 269.86P. After 22 rounds of bidding by 10 bidders, the final transaction price was locked at US$302,000. According to BitDeer officials, there are still plans to launch mining machine auctions in the future. The models of the mining machines to be auctioned and the specific auction time are still subject to further official announcements.
18.
The government of the Republic of Dagestan issued an announcement that local law enforcement agencies and energy officials have joined forces to crack down on illegal cryptocurrency mining activities and discovered an underground cryptocurrency mining site in the capital Makhachkala. According to a message released by the Dagestan Cabinet Minister via Telegram, law enforcement officers found 17 cryptocurrency mining equipment several meters underground in the Sergokalinsky district of Makhachkala. In order to evade supervision, illegal miners began to set up underground mines and mobile mining units in many places in Dagestan. These illegal mining activities caused a fire at the local 110 kV Novaya substation, causing power outages in parts of the capital for several days. The government will invest about 3 billion rubles (about 32.5 million US dollars) to repair damaged energy facilities.
19.
f2pool announced the launch of the Aleo (ALEO) mining pool and implemented a 1% PPLNS payment scheme. Aleo is an L1 blockchain platform that uses zero-knowledge proof technology to support the establishment of scalable and private applications. Aleo network consensus AleoBFT is a hybrid structure of PoS and PoW, which generates kSNARKs proofs in PoW and achieves real-time block finalization in PoS. Currently, you can use NVIDIA graphics cards to access f2pool to participate in Aleo mining.
20.
Bitcoin financial services company Swan Bitcoin has filed a lawsuit against former employees and consultants, accusing them of "stealing" its lucrative Bitcoin mining business with the help of Tether and setting up an "illegal imitation" company Proton Management. Swan believes that Tether, as a former financing partner, promised to invest while secretly plotting to encourage employees to leave and establish competing businesses. The incident caused Swan to abandon its IPO plan and lay off about 45% of its employees. Swan is seeking a permanent injunction against the defendants and seeking compensation and punitive damages.
twenty one,
Bitcoin mining company CleanSpark has restored its 200 megawatt (MW) of power supply in Georgia after Hurricane Helene hit. Hurricane Helene, a Category 4 hurricane, brought strong winds and heavy rains to the southeastern United States, killing at least 128 people and leaving more than 2 million people without power. In preparation for the storm, CleanSpark shut down its 365 MW power site in Georgia before the hurricane. The company announced that it has restored 200 MW of power and plans to restore the remaining 165 MW of power supply by October 4. (The Block)
twenty two,
U.S. District Court Judge Jamel Semper dismissed a class action lawsuit against bitcoin mining company Iris Energy, ruling that investors who filed the lawsuit could not prove that the company had falsified statements or intentionally misled investors. The lawsuit accused Iris Energy, its executives and its underwriters (including JPMorgan Chase and Citigroup Global Markets) of violating the Securities Act and the Securities Exchange Act during its 2021 IPO.
twenty three,
Canaan Inc. has completed its third tranche of preferred stock offerings, raising an additional $50 million to fund its self-operated mining expansion and mining machine manufacturing operations in North America. Canaan Inc. announced the issuance of 50,000 Class A preferred shares at an issue price of $1,000 per share. These shares are convertible into Class A common shares after six months and subsequently convertible into American Depositary Shares (ADS) on Nasdaq. The offering is the third part of a securities purchase agreement signed by Canaan Inc. with an unnamed institutional investor in November 2023, aiming to raise up to $125 million in three phases. Canaan Inc. raised the first tranche of $25 million and the second tranche of $50 million in December and February, respectively.
