1.
CoinDesk Poll: How big is the debt crisis facing cryptocurrency miners?" Companies that placed orders for miners during the bull market at peak prices are now in an untenable position. At maturity, we'll see a number of defaulted loans, unclaimed miners, and takeover targets." Smaller miners that are 100% financed, less than two years old, and without beneficial economics may be the first to see related loan defaults.
 
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2.
As Bitcoin prices fell closer to $20,000 on Monday, most Bitcoin miners saw their stocks go down. Core Scientific, CleanSpark, TeraWulf and Marathon were among the stocks that fell the most. Core Scientific saw its stock drop by as much as 12.92%. Other companies that experienced losses include CleanSpark (-8.11%), TeraWulf (-7.95%) and Marathon (-7.68%). As of today, all U.S. listed miners have a market capitalization of less than $1 billion.（The Block）
 
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3.
Miner Jiang Zhuoer said the previous Bloomberg report of $4 billion in loans using mining machines as collateral was grossly exaggerated. The limited number of mainstream miners available for collateral shipments and the limited amount of money available for lending; poor liquidity and the lack of ability of institutions to control and evaluate miners have led to fewer institutions participating in miner lending.
 
4.
Crypto mining has had a massive impact on the gaming graphics market in the past 18 months, the bank said, driving an estimated 14% of revenue in 2021, while at the same time “substantially contributing to a major graphic shortage, Morgan Stanley said in a report Monday. Both Nvidia and AMD, another chip maker, have argued that they have minimized the downside scenarios from crypto, but Morgan Stanley foresees a correction lower in gaming GPU in the first quarter of next year.（CoinDesk）
 
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5.
Luxor Technology, the full-stack bitcoin mining software and services provider, is launching a marketplace for miners where customers will be able to purchase hosting services for their mining rigs. Luxor will essentially play the role of a broker, matching miners that need their machines plugged into a hosting provider. The new marketplace will have hosting clients in the U.S. and Canada .(CoinDesk)
 
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6.
Crypto miner Compass Mining today announced that the Board of Directors has accepted the resignation of Chief Executive Officer Whit Gibbs and Chief Finance Officer Jodie Fisher. Effective immediately, the board has appointed Chief Technology Officer Paul Gosker and Chief Mining Officer Thomas Heller as interim Co-Presidents and CEOs to lead the company through this period of transition. The Board will begin a search for a permanent President and CEO and CFO immediately.
 
7.
According to Mawson's June 28 press release, Mawson is actively engaging in energy demand response programs at its operations; Mawson has now received the final shipment of Canaan A1246 ASIC Bitcoin Miners in June, and as a result has no further payments; Celsius Mining LLC continues to perform as expected as we scale up their deployment; defer any major expansion CAPEX in the current market environment until market conditions normalize.”
 
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8.
Samsung will start trial production of its 3-nanometer(nm) foundry process for customers this week at the earliest, TheElec has learned. Qualcomm, Samsung’s largest customer, had also made reservations. But the company’s production volume is yet small and it is more a trial run, not mass production.
 
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9.
Crypto miner HIVE Blockchain Technologies asked securities watchdogs in Canada to bar executives from trading in the company’s stock due to a delay in its financial statements. HIVE is blaming a “combination of factors,” including a shorter filing deadline for non-venture issuers, a rapid increase in the company’s growth and an increase in the number of transactions resulting from that growth. HIVE’s share price has since tumbled more than 10% in recent days.（Blockworks）
 
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10.
According to The Block researcher Wolfie, the Ant S19 Pro is currently priced at $54 USD/T on Bitmain's website, compared to $116 USD/T in January, a drop of 53 percent.
 
11.
The New York Department of Environmental Conservation (DEC) has denied bitcoin miner Greenidge's air permit renewal. The regulator said Thursday that Greenidge's application didn't comply with the green gas house gas (GHG) emissions limits set by the state's Climate Leadership and Community Protection Act (CLCPA). Greenidge said it will challenge the regulator's decision in court, while continuing to operate under its current air permit renewal, which remains in effect.（The block）
 
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12.
Bitfarms mined a total of 420 BTC in June, just a slight 2.6% decrease from May. As of June 30, Bitfarms had a total of 3,144 BTC, with a value of around $63 million. Comparing that to $188 million based on a bitcoin price of $31,000 at the end of May, the dollar value of Bitfarms's bitcoin holdings fell by roughly 66.5%. （The block）
 
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13.
FTX co-founder and CEO Sam-Bankman Fried (SBF) is open to acquisitions of troubled crypto miners in order to help stem contagion in the crypto industry.
 
“When we think about the mining industry, they do play a little bit of role in the possible contagion spread, to the extent that there are miners that were collateralizing borrows with their mining rigs,” Bankman-Fried said. “There might come along a really compelling opportunity for us – I definitely don’t want to discount that possibility.”
 
Later SBF further added in a tweet that he is not particularly looking at miners, but sure, happy to have conversations with any companies.（CoinDesk）
 
He later tweeted, “Really not sure why the meme about FTX and mining companies is spreading, the actual quote was that we *aren't* really looking into the space.”
 
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14.
Inner Mongolia Autonomous Region Party Committee and Autonomous Region People's Government issued the implementation opinions on the complete and accurate implementation of the new development concept to do a good job in carbon peaking and carbon neutral work
 
15.
As Bitcoin prices fell closer to $20,000 on Monday, most Bitcoin miners saw their stocks go down. Core Scientific saw its stock drop by as much as 12.92%. Other companies that experienced losses include CleanSpark (-8.11%), TeraWulf (-7.95%) and Marathon (-7.68%).
 
16.
Mining equipment provider Dynamics Mining said it had terminated its facility hosting agreement with crypto miner Compass Mining on June 14 for non-payment of electricity bills, after Compass Mining had been late on six payments and had three more outstanding payments.
 
17.
The National Agency of Prospective Projects (NAPP) in Uzbekistan announced its demands toward crypto mining operators. It would only allow the companies that use solar energy to mine Bitcoin (BTC) or other cryptocurrencies.
 
The executive order also obliges any mining operator to obtain a certificate and register in the national registry of crypto mining companies. This procedure demands a brief list of documents, and should take no more than 20 days from submitting to the final decision to the licensing body. The certificates would be valid for one year after the registration.
 
All the currency generated from mining activities would be spared taxation. But, the trade operations with mined assets would have to be conducted only on the exchange platforms that are registered in Uzbekistan. The mining of anonymous cryptocurrencies would be prohibited.（Cointelegraph）
 
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18.
White Rock Management is a crypto miner that uses sustainable techniques, which is based in Switzerland, plans to expand its bitcoin-mining operations to other countries, including the US, to diversify its mining locations and push its network share to 1.5% by 2024.
 
White Rock secured a location in Texas, a state that already houses one of the largest crypto mines in the world, and is in "advanced talks" to secure more locations in other states, including Wyoming. In White Rock's eyes, the US is an attractive country overall when examining infrastructure and regulation. The company is also focused on preparing for M&A deals, which it believes will come soon after the recent market sell-off.（Business Insider）
 
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19.
Bitcoin miner Marathon Digital (MARA) said its miners in Hardin, Mont., are currently without power due to a storm that passed through the region on June 11. The company has about 30,000 miners deployed in Montana, representing over 75% of the company’s active fleet.
 
The miners are likely to remain offline until the damaged power generating facility can be repaired, the company said in a statement. Some of the mining rigs might be able to come online and run at a reduced capacity as early as the first week of July（CoinDesk）
 
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20.
Binance Pool, the comprehensive cryptocurrency mining platform of Binance, announced its partnership with UltimusPool, a full-featured mining pool solution. As a technical services provider for Binance Pool, UltimusPool will provide a convenient pool servicing platform that is attractive for miners and will give users access to reasonable mining rewards and daily payouts.（PR Newswire）
 
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21.
Privately and publicly traded cryptocurrency miners have accumulated between $2 billion and $4 billion in debt to fund the construction of their massive facilities in North America, according to data compiled by industry participants, and as the value of miners' output plummets with the price of bitcoin, coupled with debt maturities in a bear market, cryptocurrency miners face notices of margin calls or will have to sell bitcoin and mining equipment.
 
22.
Kirill Pronin, head of the Russian Central Bank (CBR)’s department of financial technologies, acknowledged the possibility of crypto mining legalization under certain conditions.
 
The executive expressed his views on mining at the Saint-Petersburg International Legal Forum on Wednesday, June 29. During the session, dedicated to cryptocurrencies, Pronin revealed that CBR doesn’t take the same kind of hardline position on mining as it does in the case of general crypto legalization: "Despite the fact that we are speaking up consistently for the prohibition of cryptocurrencies’ turnover [...] the discussion regarding mining’ legalization is possible."
 
However, Pronin named several conditions that, according to him, make this discussion possible. He insisted that the mined assets should be sold strictly abroad and in exchange for fiat money: "Ultimately, we must say that there should be an export of these mining services, and the mining business shouldn’t lead to accumulation of cryptocurrency in the country, so there won’t be a motivation for a further usage in the internal payments."（Cointelegraph）
 
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23.
BIT Mining announces the completion of a $16 million sale of American Depositary Shares (ADSs). The Company intends to use the net proceeds of the registered direct offering to invest in mining machines, build new data centers, expand infrastructure, and improve working capital position.（PR Newswire）
 
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24.
While bitcoin’s fiat value has dropped more than 70% below the all-time high recorded in November 2021, the price reduction has made it so miners are making fewer profits depending on the devices they operate. Despite miner profits sliding, Bitcoin’s hashrate has remained high coasting along at 180 exahash per second (EH/s) to 261 EH/s. In three days or more than 600 blocks away, Bitcoin’s next difficulty adjustment is also estimated to increase by 0.3%.（Bitcoin.com）
 
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25.
According to data compiled by The Block Research, revenues for Ethereum mining were $528 million in June, which represents a decline of 45.5% from the previous month.Most of these revenues came from the block subsidy ($498.84 million) and a relatively small amount from transaction fees ($29.64 million) and from uncle rewards ($21.09 million).
 
Bitcoin miners generated about 1.26 times more revenue than Ethereum miners in June, reversing what had been the trend since April 2021. In May, Ethereum miners made 1.08 times more in revenue than Bitcoin miners.（The Block）
 
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26.
According to the official announcement, the Filecoin network will be upgraded to version v16 on epoch 1960320 (July 6 at 14:00), which is a mandatory upgrade release for Lotus, codenamed "Skyr Upgrade". All node operators (including storage providers) must upgrade to this release (or newer versions) by this point in time; storage providers must upgrade their daemons, miners, markets, and workers components.
 
The Skyr upgrade introduces six elements, namely: FIP-0030 Introduction of FVM; FIP-0031 Atomic Switching to Non-Programmable FVM VMs; FIP-0032 Gas Fee Model Tuning for Non-Programmable FVMs; FIP-0027 Gas Model Matching for Non-Programmable FVM VMs. ProveReplicaUpdates method vulnerability fix; new proof version of SnarkPack.
 
27.
Crypto analyst Dennis Porter tweeted that Justin Orkney, an analyst at Duke Energy's Lead Rates & Regulatory Strategy, the second-largest utility in the U.S., is currently researching bitcoin mining, and that he is also a bitcoin investor.
 
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.
 
Contact us Telegram Colinwu1989/wuhongliang1@gmail.com
 
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