Global Crypto Mining News ( Aug 16 to Aug 22)
Colin Wu . 2021-10-22 . Mining

 

1. BlackRock ETFs hold $384 million of shares in Bitcoin mining firms

Filings submitted by the $9 trillion multinational investment manager BlackRock reveal that the firm has made significant investments in two leading publicly traded Bitcoin (BTC) mining firms.

A June 30 filing submitted to the United States Securities and Exchange Commission, unearthed by Forbes, shows that BlackRock owns a 6.71% stake in Marathon Digital Holdings and 6.61% of Riot Blockchain.

The investments are not BlackRock’s first in the digital asset sector, with the firm filing an application with the SEC in January for two of its funds to purchase cash-settled Bitcoin futures contracts before revealing in April that its BlackRock Global Allocation Fund had bought 37 BTC futures contracts from the Chicago Mercantile Exchange.

Read More

2. Ankr fully enters the mining industry

Wublockchain learned that ankr announced to enter the pow mining industry and said that it had successfully landed a North American mine with a scale of more than 100 trillion. Ankr said that it has reached strategic cooperation with a number of industry leading enterprises, successfully completed mines in Kentucky, North Carolina and Alberta, Canada, and more mines will be built one after another. Meanwhile, Ankr mining is actively exploring more value-added services such as mining machine design and production, mining machine loan and computing finance.

In terms of time, Ankr mining said that it has successfully realized the rapid launch in one month, that is, it takes an average of one month from the conclusion of cooperation to the launch of the mine in North America. In terms of power and land use, Ankr mining chooses to directly sign a power contract for long-term cooperation with the North American state / regional power grid, and communicate with the local government and land owner to purchase or lease the land use right near the substation for a long time. The land lease contracts are more than 5 years to ensure the long-term stable operation of the mine.

In addition, Ankr mining launched its self-developed high-capacity container AnkrBox, which can accommodate 200 ant S19 series mining machines, T19 series mining machines or whatsminer mining machines, and 195 Avalon mining machines.

Ankr was founded in 2017, and its token has been logged into coinbase, binance, etc.

3. Mars computing power certificate is restored, and China overseas is started one after another

Wublockchain learned that on August 16, the Mars computing power pass supported by the computing power of Poolin Mining Pool was started overseas one after another. The official announcement said that after June 18, the power outage in Sichuan further led to the decline of bitcoin's computing power in the whole network. Mining operations are facing a very difficult situation. At present, the Mars project machine has gradually found a foothold overseas and will start up orderly and gradually.

The article says it faces many challenges. First of all, thousands of mining machines have been relocated, the migration destinations are relatively scattered, and the initial investment is huge. Second, the global epidemic has repeatedly led to the difficulty of ensuring the timeliness of domestic and international logistics. Third, mining machines are damaged to varying degrees due to frequent loading and unloading, multi transfer and long-distance transportation (current statistics show that about 20% of machines are damaged). In addition, the rapid increase of mine machinery maintenance and shelving in a short time has greatly increased the workload of on-site operation and maintenance.

At present, the online BTC calculation force is 39900 Th / s and the online eth calculation force is 252000 MH / s. this batch of mining machines operates normally in the new site. In addition, it is expected that mining machines of the same scale will be delivered to each site in batches in the next 2 to 3 weeks, and the online rate will double; Subsequently, with the restart of the machine, the online rate will continue to rise rapidly.

 Mars computing Tong has obtained investments from Three Arrows Capital, Fenbushi, Hashkey, IOSG, etc.

Read More

4. The official account of Jiangsu Higher People's Court on stealing electricity and digging mines.

Wublockchain was informed that in August 19th, the official account of WeChat public of the Jiangsu Provincial Higher People's court said that in recent years, the great market of virtual currency represented by bitcoin attracted various "Nuggets". It is not issued by a specific monetary institution, but generated through a large number of calculations according to a specific algorithm. This process is called "mining".  The cost of "mining" is high, and "mining" consumes 38800 degrees of power per bitcoin. To this end, some lawless elements have used "crooked brains".

In recent years, Mr. Hua has made a profit by digging virtual currency through "mining machine". In January 2018, in order to reduce the power consumption cost of mining, Mr. Hua modified the electricity meter privately to steal electricity by using more and counting less. Fearing the exposure of electricity theft, in September 2018, Hua contacted others to remove the modified parts. Since then, the meter has a reverse current due to inaccurate counting.

In December 2018, the power supply company sent staff to a home in China for inspection due to the detection of problems with the meter value. When it was clear that the meter was broken and needed to be replaced immediately, Mr. Hua repeatedly pushed away the requirements of the power supply company for door-to-door replacement of the meter, and kept the computer with 15 USB flash disks and 6 solid-state drives running all the time.

After hearing, the court held that Hua's behavior constituted theft. Combined with witness testimony, expert opinions, power user power consumption information collection data, power grid Sales Tariff and other evidence, it is further determined that the total value of power stolen by Hua is more than 26050.46 yuan. Considering the circumstances of repentance, payment of arrears and breach of contract in the use of electricity, he was sentenced to fixed-term imprisonment of one year and four months, suspended for one year and six months, and fined 3000 yuan.

In recent years, the value of virtual currency represented by bitcoin has risen, attracting more and more people to invest in this industry. However, behind this "wealth password", there is a large consumption of power resources. In addition, because bitcoin is often used in illegal economic activities such as money laundering, the supervision of bitcoin "mining" and transactions in China is becoming more and more strict, and many places are comprehensively cleaning up and shutting down bitcoin "mining" projects built in various names. In the face of interests, some people do not hesitate to take risks to steal national power resources in order to reduce the cost of "mining". According to the relevant provisions of the power supply business rules, the electric power law of the people's Republic of China and the criminal law of the people's Republic of China, the person who steals electricity not only needs to bear the civil liability for making up the electricity fee and using the electricity fee in breach of contract, but also may be investigated for criminal responsibility by the judicial organ if it constitutes a crime.

Read More

5. Chengdu filed a case against six people suspected of using "GUCS" "Kirin mining machine" to commit crimes

Wublockchain was informed that the police of Chengdu on August 18th night announced that: Recently, the Chengdu Public Security Bureau had investigated and investigated the criminal activities of Yang and Chen and others, who had suspected the use of the "GUCS" "Kirin mining machine" virtual currency. Criminal suspect has been imposed on 6 major suspects, and the investigation work is being carried out in accordance with the law.

6. Bit Digital, Inc. Announces Second Quarter of Fiscal Year 2021 Financial Results

Bit Digital, Inc., a bitcoin mining company headquartered in New York, announced its unaudited financial results for the second quarter ended June 30, 2021. Financial Highlights for the Second Quarter 2021 is as follows:

·Revenue from bitcoin mining was $28.3 million.

·The number of bitcoins earned was 562.9.

·70.8% of our miner fleet was deployed, in transit to, or awaiting installation in North America at June 30, 2021.

·We owned 32,500 miners, with 3,515 miners acquired in the second quarter of 2021.

·Net loss was $1.3 million and loss per share was $0.03, compared with a net loss of $0.3 million and a loss per share of $0.01 for the same period last year.

Read More

7. Nvidia Q2 Revenue Rises 68%, but Crypto-Related Earnings Fall Short of Expectations

Revenue was $6.5 billion for the quarter, the company said in its earnings release this week, an net income almost quadrupled to $2.37 billion from a year earlier.

To combat the global shortage supply of its cards, Nvidia announced the rollout of its Cryptocurrency Mining Processors in February, specifically targeting crypto miners.

While sales of its graphics processing units helped drive revenue, Nvidia fell short of its forecast of generating $400 million in revenue in the quarter from mining-related cards. Sales of Nvidia's crypto mining-related products totaled $266 million,  more than $130 million below its forecast earlier this year.

Read More

8. Filecoin project has reached cooperation with Mask Network to jointly build Web3.0 ecology

On August 18, 2021, Filecoin tweeted that it has reached a cooperation with mask network. Users can use Filecoin to transfer files in twitter through mask plug-in, and can also send encrypted files to specific twitter friends. Meanwhile, Filecoin said it would jointly release reward tasks related to decentralized storage with Mask Network to encourage more developers to participate in the construction of Web 3.0 ecology.

9. Chinese Miner The9 Signs Joint Venture for Crypto Mining Plant in Kazakhstan

The Shanghai-based mining company announced that its NBTC subsidiary signed an agreement with Kazakhstan’s LGHSTR on 20 August.

NBTC will take priority in deploying cryptocurrency mining machines at the developed sites.

As much as 100MW should be completed by the end of this year, with the full amount available a year later in 2022.

Once completed, the sites could deploy more than 50,000 S19 Antminers and accommodate about 5EH/s of hash power.

Read More

10. Shanghai Minhang Court: bitcoin belongs to virtual property and is exchangeable

Wublockchain learned that the official account of the Minhang court in Shanghai issued a document saying that the plaintiff bought the bitcoin "WKJ" (suspected as a mining machine) through the Internet to the defendant. After that, the plaintiff believed that the central bank had issued a notice on preventing the risk of issuing money, so the bitcoin miner was no longer worth the value, and the transaction was illegal. The contract was invalid and demanded a refund. The court held that Article 127 of the Civil Code stipulates that "if the law has provisions on the protection of data and network virtual property, its provisions shall prevail". In this case, bitcoin has no monetary attributes such as legal compensation and compulsion, and cannot be used as currency in the market. However, it is obtained by legal labor, disposable, exchangeable and exclusive, and has the attribute of virtual goods. Therefore, the sales contract is valid, and the court rejected the plaintiff's claim.

Shanghai Minhang court held that, as an equivalent in the online world, it plays a bridge role between the real world and the virtual world to a certain extent. It is a kind of licensed virtual objects, such as Tencent's Q coins and Q points, Shanda's counting coupons, Baidu's Baidu coins, etc. the acquisition of special virtual currencies, such as bitcoin, requires certain resources, property and energy, It has value in the sense of exchange and also belongs to virtual property.

Previously, relevant judges in Jinan said that from the perspective of regulatory policies, China has always strictly prohibited the issuance, financing, trading and speculation of virtual tokens. The purchase of virtual currency is not protected by law in China, and the relevant agreements signed thereby are not protected by law.

Read More

11. BIT mining released its second quarter financial report and realized a net income of about RMB 2873.9 million

Wublockchain learned that BIT mining (formerly 500. Com) released its second quarter financial report and realized a net revenue of about RMB 2873.9 million (about US $441.5 million). From April 15 to June 30, btc.com achieved a revenue of about US $422.8 million, accounting for 95% of the total revenue of BIT mining in the second quarter.

Bit mining started the EIT mining business outside the Chinese mainland. As of the deadline of issue, the company's on-line mine machine theory reached 600GH/s, based on the current Ethernet network and the price of US$3309, the company now has 13 Nissan coins, worth about 43017 US dollars. Based on the Ethereum price on the publishing date, the power cost of the company's Ethereum mining business accounts for less than 10% of the revenue. It is expected that by the end of October 2021, the company will deploy Ethereum mining machines with a total computing power of 4800gh / s.

The layout of BIT mining in bitcoin mining business is also progressing rapidly. As of August 17, the theoretical computing power of bitcoin mining machine held by BIT mining reached 1425.3ph/s. Bit mining is steadily promoting the global mining strategy. The company has transported 7849 bitcoin mining machines to Kazakhstan, with a total computing power of about 292.7ph/s. Among them, 3293 bitcoin mining machines with a total computing power of about 121.0 pH / s have been deployed for online operation, and the remaining 4556 bitcoin mining machines will also be deployed. In the second quarter of 2021, bitcoin mining generated about 186 bitcoins and recognized revenue of about US $9.5 million, accounting for 2.1% of the company's total revenue in the second quarter.

As of June 30, 2021, BIT mining has cryptocurrency assets of about 410.8 million yuan (about US $63.6 million), about 1147 bitcoins, 1083 Ethereum, 61.4 million dogecoins and other cryptocurrency assets, mainly from the mine pool business merged on April 15, 2021 and the cryptocurrency mining business started at the end of February 2021.

Read More

 

https://accounts.binancezh.in/zh-CN/register?ref=LMZL174C

 

Review

Global Crypto Mining News(Aug 9 to Aug 16)

Global Crypto Mining News(Aug 2 to Aug 9)

Global Crypto Mining News(July 26 to Aug 1)

 

WuBlockchain’s newsletter, Global Mining News on Monday, China Crypto News on Tuesday, and sharing some high-quality articles.

Follow us

Twitter: https://twitter.com/WuBlockchain

Telegram: https://t.me/wublockchainenglish