The New York State Legislature has passed a bill that would impose a two-year moratorium on the use of fossil-fuel power plants to provide energy to miners of cryptocurrencies like Bitcoin, but Governor Kathy Hochul's office on Monday said she had not yet decided whether to sign it.
Hochul said in a statement on Monday. "We have to balance protection of the environment, but also protect the opportunity for jobs that go to areas that don't see a lot of activity, and making sure that the energy that's consumed by these entities, is managed properly." The bill was passed by the New York State Senate on June 3. (Reuters)
2.
Helium Network said that beginning with 5G, the Helium Network will have a new token called MOBILE to reward hotspot owners for providing 5G coverage. As other networks join, each network protocol will have its own token and governance. Each new token will be backed by HNT.（The block）
3.
Crypto miner Hut 8 began mining last Thursday at its new location in Ontario, Canada. So far, the company is operating on 15 MWs of power, which has added roughly 400 PH/s to Hut 8’s operating capacity, according to an announcement Monday.
In addition, Hut 8 announces its May 2022 operations，Hut 8 it mined 309 BTC in the past month and decided to hold on to all self-mined bitcoin — in line with its "longstanding HODL strategy."
As of May 31, Hut 8 had a total of 7,078 BTC, as well as an operating capacity of 2.64 EH/s. The company produced on average 10 BTC per day in May.（The block）
4.
Hive Blockchain, a crypto mining company, sold about 10,000 ethereum coins to pay for bitcoin mining equipment. As of June 5, HIVE had a BTC HODL balance of 3,186 bitcoin. Hive also indicated a 93% correlation between bitcoin price trends and the top 100 tech stocks, and a more than 90% correlation between bitcoin miners and bitcoin prices.
5.
Argo Blockchain said bitcoin production fell 25 percent from April as its new Helios facility in Texas experienced "unplanned downtime" and increased difficulty mining the bitcoin network. The company produced 124 bitcoins in May and earned just under $3.89 million in mining revenue. As of May 31, 2022, Argo Blockchain held a total of 2,379 bitcoins.
Argo Blockchain will work with ePIC Blockchain, a Canadian blockchain hardware manufacturer, to design and build crypto mining rigs using Intel's new second-generation bitcoin mining chips, Argo said Tuesday.
The ePIC partnership is an extension of a 2021 deal in which Argo Blockchain agreed to buy $8 million worth of ePIC's mining rigs, CEO Peter Wall said in a taped message posted on Argo's YouTube channel on Tuesday.（Coindesk）
6.
Australian bitcoin miner Mawson has taken a 33% stake in Tasmania Data Infrastructure (TDI) in exchange for about 1,975 bitcoin mining rigs. TDI is developing a data center to mine bitcoin (BTC) with 100% renewable energy. As part of the deal, Mawson will have the right to host up to 10MW of its own bitcoin mining infrastructure at the site.（Coindesk）
7.
Bitcoin miner Iris Energy reported that bitcoin mined in May (151 BTC total) was up 10% from the previous month (137 BTC in April), with mining revenue of $4.9 million. Its average operating hashrate rose to 1,165 PH/s, an increase of about 12%.
8.
BITMAIN introduces Poolin’s data center in Texas, covering 145 acres with a total load capacity of 600MW, adopting wind, solar, and natural gas. Phase 1 completed 100MW and Phase 2 offers an additional 100MW utilizing ANTSPACE HK3, housing 47,000 hydro cooling miners.
9.
Bit Digital produced 53.4 bitcoin in May, representing a 29.9% decrease from the previous month. During the same month, the company also mined 27.0 ETH. The company held 793.6 BTC and 316.1 ETH as of May 31. Bit Digital owned 33,376 Bitcoin miners and 731 Ethereum miners at the end of the month. Of Bit Digital's currently owned mining fleet, 17.9% was deployed in North America as of May 31.（The block）
10.
Greenidge Generation produced 195 BTC in May, a slight decrease from the 197 BTC mined the month before. Greenidge had had approximately 1.7 EH/s of mining capacity from approximately 20,400 miners as of May 31. The company has said that even if signed into law by the governor it would not affect mining operations at its 106-megawatt facility.
（The block）
11.
Marathon Digital, a publicly traded North American mining company, announced its May operations, which produced just 268 bitcoins in May, 47% less than expected last month due to power outages in Texas and ongoing maintenance issues in Montana.
Increasing total bitcoin holdings to 9,941 BTC and current operating mining fleet consists of 36,830 active miners producing approximately 3.9 EH/s.
12.
According to Inner Mongolia Daily, since 2021, Inner Mongolia has taken a number of hardcore initiatives to resolutely curb the "two high" project blind development, the "two high" project comprehensive implementation of the ledger, list management, the clearance of 49 virtual currency "mining" project.
13.
Bitcoin mining companies are starting to feel the effects of the deceleration of the price of bitcoin in crypto markets. The company has declared that the fall of bitcoin prices, above all elements, is the most important problem that miners are facing right now. This has affected the company directly due to its holdings, taking its valuation from a unicorn status to a sub $500 million currently.
In an interview given to local media, Damian Polla, Bitfarm’s Latam General Manager, stated: “The biggest challenge facing the sector in the short term, both in Argentina and globally, is the fall in the price of bitcoin, which reduces revenues and increases operating costs.”
Polla also considered this fall in prices as proof of the advance of the cryptocurrency market, which he qualified as being “mainstream” in global markets due to its correlation with other traditional equity indexes.
The company, which has a quota of 1.5% of the global Bitcoin hashrate, has made important investments in Argentina and Paraguay. The company is currently building a Bitcoin mega farm in Argentina, that will be designed to host 55K miners with a power capacity of 210 megawatts. While other companies in the country are executing layoffs as a plan to resist the announced upcoming economic phase, Bitfarms is currently generating 200 jobs with the construction of the mentioned mining facility.
While the company is not currently planning new investments in the area, Polla explained that Bitfarms is always evaluating new opportunities in Argentina, Latam, and even the U.S.（Bitcoin.com）
14.
Blockchain analyst firm Glassnode reported last week on the chain that bitcoin miners' income remains under pressure at this stage. As a reaction to the general decline in dollar revenues since November 2021, bitcoin miners' balances are currently showing a decline and additional expenses are rising. The miners' net position change indicator currently shows a cumulative decrease in miners' balances of between 5k and 8k bitcoins per month.
This indicates a clear change in miners' behavior as their balances saw a net accumulation of about 12,000 bitcoins during the first pullback of the pre-historic highs. In response to the market crash caused by the LUNA Foundation selling over 80,000 bitcoins in an attempt to maintain the UST peg, miners have since sold 10,000 bitcoins, adding to the selling pressure in the market.
15.
High temperatures in Texas this week have led to record-breaking power use levels for the month of June, presenting a test for state's power grid. And the heatwave has had implications for some of Texas's bitcoin mining operations.
Many Bitcoin miners in the state have set agreements with ERCOT to power down at peak energy demand times.
"We curtailed operations on June 7 during the late afternoon and will continue to do so when monitoring usage on the grid as well as rising temperatures," a Bitdeer spokesperson said via email. "We power down by using automated software triggers when power costs reach certain price points," they added.
Bitcoin miner Argo said earlier this week that it had mined 25% less bitcoin in May for a variety of reasons — one of them being the time it had shut off power due to higher temperatures. Riot has recently indicated that it would also likely be curtailing operations this week as temperatures went up.（The block）
16.
Tennessee, USA bitcoin miner Red Dog has been ordered to cease operations at its current location after reaching a settlement with a local resident who filed a lawsuit. T he settlement allows Red Dog – the company owning the mine – to build a new one at a more suitable location – the Washington County Industrial Park. In previous news, Tennessee bitcoin miners face lawsuit over noise complaints. Finbold）
17.
Despite last week's modest bitcoin miner revenue last week, average daily revenue remains subdued. The data shows that the average daily revenue of bitcoin miners rebounded slightly last week to $27.19 million, but the increase was only 1.47% compared to the previous week's $26 million.
In addition, the current average daily revenue of bitcoin miners has fallen 56% compared to the average daily revenue of approximately $62 million in November 2021, and the mining market remains at a low level. Bitcoin's network-wide hashrate levels have also been impacted due to poor miner revenue, with BTC's hashrate having fallen over 10% in the past month and the number of blocks generated per hour reduced to 5.85 BTC.（The coin republic）
18.
According to BTC.com data, bitcoin mining difficulty has risen from 29.90T to 30.28T, an increase of 1.29%. The current bitcoin unconfirmed transaction volume is 1,186. The network-wide hashrate is 219 EH/s, with a 24-hour transaction rate of 3.10 transactions/s.
19.
Bitcoin mining operations in Chelan County, Washington are going to soon face an increase in the price of electricity they purchase. This week, the County PUD Commissioners gave their approval to the change, which would result in an increase of around 29% in the cost of the electricity required for Bitcoin mining, as per a report on June 8 by NewsRadio 560 KPQ.（Finbold）
20.
Crust Network, an IPFS-based decentralized storage protocol, is launching an External Adapter on the Chainlink network. Through Chainlink, smart contract developers can enable their applications to easily access IPFS-based decentralized data stores and extract data from IPFS.
TSE (www.tsedata.com) is committed to being the North American mining service provider that understands Chinese miners best.
With years of experience in the North American natural gas industry (original business website: www.topspeedenergy.com), TSE can produce its own natural gas and build a 100% natural gas-isolated mine, which has cost advantages and ensures business diversification, and use 100% clean hydroelectric energy in Canada and mixed grid power resources in Texas, Ohio and North Dakota to build a world-class mine. We have a three-shift operation and maintenance team that promises a one-hour response time to ensure the stability of miners' equipment around the clock and bring significant mining revenue.
As a localized mining company in North America, TSE can assist miners with local incorporation, tax planning and legal advice to help them enter the North American mining market safely and worry-free.
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