Author | Wu Blockchain
1,
Hashrate Index released the top 10 most competitive Bit mining machines for 2025, including: Antminer S21 Pro, Bitdeer Sealminer A2, Whatsminer M60S, Antminer S19j Pro, Whatsminer M30S++, Avalon A1566, Antminer S21 XP Hydro, Antminer S19k Pro, Whatsminer M66S Immersion, Avalon A1566 Immersion.
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Bit mining company Bitfarms released its December 2024 production report, with the company's annual computing power increasing by 97% to 12.8 EH/s, mining 211 BTC in December, earning an average of 6.8 BTC per day, and a total of 2,914 BTC mined in 2024. The company mined 4,928 BTC in 2023. In addition, Bitfarms announced that it plans to complete the acquisition of Stronghold Digital Mining in Q1 2025, which will significantly enhance its energy layout in the US and PoS/HPC expansion capabilities, with a target capacity of 1.6 GW.
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BitFuFu announced a two-year framework agreement with Bitmain, planning to purchase up to 80,000 S-series Bit mining machines (including models such as S21 XP and S21 Pro) for its self-mining business, and provide mining machine sales, cloud mining, and hosting services based on market demand. According to the agreement, BitFuFu can place orders in batches and choose to pay part of the payment in the company's stocks, and also have an interest-free deferred payment of part of the cash after the delivery of the mining machines, in order to optimize capital management and operational flexibility. The agreement will support the company's plan to expand its mining infrastructure, with a target of adding 1 GW of computing power capacity by the end of 2026.
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Listed mining company MARA released an update on Bit production and mining operations in December 2024, mining 249 Blocks in December, a record for the second-highest monthly output, with an active Hash rate reaching 53.2 EH/s and mining 890 BTC. MARA acquired 22,065 BTC in 2024 at an average price of $87,205, and mined an additional 9,457 BTC, now totaling 44,893 BTC worth $4.2 billion, and has lent 7,377 BTC to third parties.
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Canaan Technology released an unaudited Bit mining update report as of December 31, 2024, disclosing that it mined 62 BTC in December 2024 and held a total of 1,293 Bit at the end of the month. Canaan Technology also disclosed a preliminary expectation for total revenue in fiscal year 2025 to be between $900 million and $1.1 billion, but the actual results may differ from these expectations.
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Canaan Technology announced that it has signed an agreement with a US customer to purchase its Avalon A15XP mining machines. Canaan US Inc. will provide the customer with 2,800 air-cooled Avalon A15XP mining machines with a hash performance of 207 TH/s, scheduled for delivery in the first quarter of 2025.
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Listed mining company Core Scientific announced that it mined 6,595 BTC in 2024, with 974 BTC mined in the fourth quarter. As of the end of the month, its data centers were operating approximately 171,000 Bit mining machines for self-mining and hosting, with a total Hash of 20.1 EH/s.
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Nasdaq-listed Bit mining company CleanSpark released unaudited Bit mining and operations reports as of December 31, 2024, disclosing that it mined 668 BTC in December and had a total of 9,952 BTC as of December 31. In December 2024, the company's average Hash rate was 35.52 EH/s, with an average queue efficiency of 18.06 J/Th, mining an average of 21.56 Bit per day, with a single-day high of 22.46 Bit. The company sold 12.65 Bit at an average price of $101,246 during December 2024.
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Bitdeer released its latest unaudited mining and operations update, disclosing that its self-mining output was 145 BTC in December 2024, down from 150 BTC in the previous month. Bitdeer also disclosed that it has fully repaid the outstanding principal balance of $10 million on the senior secured notes issued to the sellers in connection with the previously announced acquisition of TROLL HOUSING AS and TYDAL DATA CENTER AS.
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Vietnamese police arrested four suspects on January 5, 2025 in Dong Nai province, a group that defrauded more than 200 victims through a fake crypto mining scheme, totaling 40 billion Vietnamese dong (about $15,730). The criminal group, led by Tran Minh Quang, used a fake website called BitMiner to attract investment under the guise of selling mining packages and educational materials, with the funds ultimately transferred to the suspects' wallets.
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Chinese Bit mining company BIT Mining signed a $14 million agreement with Ethiopia to acquire a 51 MW facility and about 18,000 mining machines in the country. Ethiopia's ultra-low electricity prices provide BIT Mining with the opportunity to transfer old mining machines to the local area, extending the equipment's lifespan and improving the return on investment. In addition, Ethiopia's power standards are similar to China's, and it has abundant hydropower resources, although Ethiopia has been in social turmoil for a long time, BIT Mining believes that certain local areas are stable after multiple inspections, and has chosen to purchase existing facilities to avoid potential risks.
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Listed company Canaan recently released two innovative personal Bit mining devices, Avalon Mini 3 and Avalon Nano 3S, at the CES 2025 exhibition in Las Vegas. These two devices combine home heating with crypto mining, aiming to lower the mining threshold and promote the development of sustainable, multi-functional technology. Avalon Mini 3 has a computing power of 37.5 Th/s and supports efficient Bit mining as well as home heating, while Avalon Nano 3S features a computing power of 6 Th/s and a portable design, positioning it as an entry-level low-power device suitable for individual users. Both devices are now open for pre-sale, with Nano 3S priced at $249 and Mini 3 priced at $899.
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DWF Labs announced a partnership with StarsHash and TON Ventures to redefine token distribution mechanisms through community-driven mining on the Telegram platform. StarsHash is a mining mini-program on Telegram, using an adjusted Ethash algorithm to ensure that users can mine tokens through personal devices or dedicated servers.
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Mining machine giant BITMAIN announced an important cooperation with the well-known Italian mining company Alps Blockchain. Alps Blockchain will purchase more than 10,000 ANTMINER S21+ Hyd. liquid-cooled mining machines with 319T of computing power and an energy efficiency ratio of 15.0J/T, to be used in a new 70MW Bit mining facility in Iowa, USA. The official announcement stated that this is an important layout for Alps Blockchain in the North American market.
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Thai police recently raided and seized 996 illegal Bit mining machines that were using electricity without authorization in Chon Buri province. The operation was jointly conducted by the Provincial Police Region 2 and the Provincial Electricity Authority, discovering that these mining machines were bypassing electricity meters to obtain power without any legal authorization, causing serious damage to the local grid. The mining facility was reportedly operating illegally at night to avoid monitoring. The police have seized the equipment and are conducting further investigations to identify the responsible parties and quantify the economic and energy losses caused by the illegal power usage. Earlier this year, Malaysia also destroyed nearly a thousand illegal mining machines due to similar cases.
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Tether is suing financial services company Swan Bitcoin over a dispute related to a Bit mining joint venture. The lawsuit involves the 2022 joint venture company 2040 Energy, in which Tether owns 80% and provides financing, while Swan holds 20%, with profit distribution to be made after Tether recovers its full investment. Tether alleges that Swan has committed material breaches of the agreement and has been forced to take legal action to protect its investment. Swan has confirmed receiving the lawsuit notice and stated that it will respond actively.
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Arkansas state lawmakers have introduced a new bill to ban crypto mining activities within 30 miles of any U.S. military facility in the state. The Senate bill (SB 60), introduced on January 15 by Senator Ricky Hill and House Speaker Brian Evans, aims to amend the 2023 Arkansas Data Center Act to separate crypto mining facilities from military facilities. However, the bill includes a specific exemption clause that will allow facilities built and operational before December 31, 2023 to continue operating.
According to VanEck's digital asset research director Matthew Sigel, Bitcoin mining company RIOT has announced a pause in the expansion of its 600 MW Bitcoin mine, the world's largest, located in Corsicana, and is accelerating outreach to potential partners in the artificial intelligence/high-performance computing (AI/HPC) space. The company expects a $245 million reduction in capital expenditures by 2025.
U.S. Bitcoin mining chip design company Auradine has announced that semiconductor industry veteran Lip-Bu Tan has joined its board of directors. Tan previously resigned from Intel's board in August 2024, reportedly due to differences with the company's management on strategy and culture. He has 40 years of hardware and software experience and has held leadership roles at several tech companies, including SambaNova Systems, Schneider Electric, and Cadence Design Systems.
Brazilian state-owned oil company Petrobras has announced the launch of a research and development project to enter the Bitcoin mining sector. Petrobras plans to use associated gas generated during oil extraction as energy to power Bitcoin mining, aiming to improve energy utilization efficiency and reduce carbon emissions.
Russia's largest power grid company Rosseti plans to develop a cryptocurrency mining business using low-load power supply centers and intends to become a coordinating operator for the deployment of mining infrastructure. Rosseti says that by introducing mining, it can increase the utilization of idle power resources, increase the load on power supply centers, and promote growth in electricity fee revenue and local economic and tax benefits. Rosseti is currently discussing measures to participate in mining development and stimulate demand in low-load power supply centers, including the possible introduction of a separate electricity tariff category as a demand management tool.
Bitcoin miner Hive Digital has acquired a mining facility in Paraguay from Bitfarms for $85 million, including a $56 million payment for the facility itself and $29 million in assumed obligations. Hive says the acquisition will more than double its hash rate to 25 Eh/s by September.
DCG is establishing a new mining subsidiary called Fortitude Mining, focused on mining BTC and other "high-growth digital assets." The subsidiary was previously a semi-autonomous part of DCG's first mining project, Foundry, which has focused on "self-mining" over the past five years. Former Foundry senior VP of operations and marketing Andrea Childs will lead the new company, while Mike Colyer remains CEO of Foundry.
Sources reveal that the prominent quantitative hedge fund D.E. Shaw has taken a position in Bitcoin miner Riot Platforms (RIOT.O) and may push the company to transform. This is the second activist shareholder to emerge for Riot, after Starboard Value. D.E. Shaw manages $70 billion in assets and may push Riot to reform and use its excess power capacity for AI.
Bitcoin miner Cipher Mining (CIFR) has announced a $50 million investment from SoftBank, which will purchase 10.4 million shares in the company. Cipher Mining says it will use the funds to support the development of high-performance computing (HPC) data centers.
