Global Crypto Mining News (Oct 24 to Oct 30)

Canaan today launched its new generation of high-performance bitcoin mining machine, the Avalon Made A13 (“A13”) series. Model A1346 features a hash rate of 110 TH/s and a power efficiency of 30J/TH. Model A1366 is equipped with a hash rate of 130TH/s and a power efficiency of 25J/TH.

Since Maple and credit agent Icebreaker launched the miner finance pool a month back, a pipeline of about 6 to 10 mining companies is in place to form the first cohort of borrowers, with another 25 on the waiting list, according to Maple Finance CEO Sidney Powell.

Interest rates offered by Maple are going to be around 18%-20% and the loans are being offered on a “full recourse” basis. Powell said Maple has received the first $10 million-$12 million of commitments so far and he expects the pool to reach its $300 million cap by around the middle of next year.

In addition to Maple, Binance Pool and Jihan Wu’s Bitdeer have also launched $500 million and $250 million mining funds, respectively, to service loans to miners or complete distressed asset acquisitions. (CoinDesk)

Luxor announced that it has proposed a new model to forecast the downside resistance of the bitcoin miner hashrate price. In 2022, resistance is strongest when the coin price is in the range of $12,000-$18,000; in 2023, resistance is strongest when the coin price is between $14,000-$24,000.

The world’s largest bitcoin miner, Core Scientific，said it anticipates existing cash resources will be depleted by the end of the year, possibly sooner. Should the capital raise alternatives fail, the firm may have to file for bankruptcy protection. Core Scientific sold a significant amount of its bitcoin for $167 million in the second quarter, with holdings falling by 75%. (CoinDesk)

Shares of head U.S. bitcoin miner Core Scientific continued to plummet on Friday, dropping about 80% in the past five days. This comes after the company has said that it may have to file for bankruptcy protection if financing alternatives fail. Core Scientific currently owes about $1 billion to a series of creditors, including BlockFi.（The Block）

A single miner has managed to overtake a large portion of the Bitcoinsv (Bitcoin Satoshi’s Vision) blockchain capturing more than 80% of the hashrate on October 17. Today, the unknown miner’s hashpower commands around 54% of the Bitcoinsv’s computational power and during the last seven days, the stealth miner captured 64.5%.

Unknown hashpower captured 64% of the Bitcoinsv Chain during the past 7 days, empty bsv blocks renders chain useless at times.（Bitcoin.com）

On October 25, the bitcoin mining operation Cleanspark announced that the firm’s hashrate now exceeds 5 exahash per second (EH/s), a milestone achieved more than two months ahead of the company’s original year-end goals. Cleanspark says it now aims to surpass 5.5 EH/s by the year’s end by increasing the miner’s hashrate goal by 10%.（Bitcoin.com）

Argentina’s tax authority found another crypto mining farm operating without properly declaring its business activities. The site had enough equipment to earn $100,000 a year.

As previously reported, on October 21, Argentina’s national tax authority (AFIP) dismantled an undeclared cryptocurrency mining operation and arrested 40 people in a “mega-operation”.

Crypto Miner lanium Inc. and Crusoe Crusoe Energy Systems today announced an agreement to cross-license their respective patented technologies. Crusoe’s infrastructure can reduce the cost and environmental impact of the digital economy.

Under the terms of the agreement, Lancium will make its patented intellectual property directed to the operation of rampable data centers as Controllable Load Resources (CLRs) available to Crusoe. The ability to flexibly control the power consumed by large scale data centers allows tenants to benefit from lower power prices, while simultaneously providing power grid operators with a powerful tool to maintain the stability of the grid.（Businesswire）

10.

The developers of decentralized storage project Filecoin have launched a content delivery network called Saturn. The goal is to help the network meet content bandwidth for decentralized apps and make it cheaper to run Filecoin nodes. Saturn will help retrieve content from decentralized storage applications.（The Block）

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Top Speed Energy (www.tsedata.com) is committed to spearheading the definition of cryptocurrency mining services in North America.

With years of experience in the local natural gas landscape (original website: www.topspeedenergy.com), on top of run-of-the-mill Grid-powered Bitcoin mining facilities, TSE also extends to set up 100% natural gas-powered facilities as well as 100% hydroelectric ones across a plethora of states and provinces in USA and Canada, including but not limited to Texas, Ohio, North Dakota, British Columbia, and Alberta.

TSE features a double-shift operation and maintenance team, delivering one-hour response promise to ensure the streamline operations of clients’s miners all year around.

Being a local player in North America, TSE poses itself as a trustworthy partner to international clientele — it can assist foreign clients with local incorporation registry, tax planning among with legal advice to help them enter the North American mining market safely and worry-free, in a compliant way.

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