Global Crypto Mining News (Apr 3 to Apr 9)

The data shows that bitcoin miners earned $755.4 million in March, up about 20% from $613.5 million in February. Most of this was in block rewards. Transaction fee revenue was $23.47 million for March. Bitcoin mining revenues fell to approximately $470 million in November and December 2022, after trending upwards in recent months.（The Block）

Miner Marathon announced that it mined 2,195 bitcoins in the first quarter, the highest quarter in the company’s history; currently holds $124.9 million in cash and 11,466 bitcoins; Marathon sold 750 BTC in March and intends to sell some of its bitcoin holdings in the coming period to support monthly operations.

Riot has announced that it produced 695 BTC in March and holds approximately 7,072 BTC as of March 31, 2023; Riot sold 675 bitcoins in March, generating net proceeds of approximately $16.7 million. Riot is currently running 94,176 miners and expects to achieve a total self-mining of 12.5 EH/s in the second half of 2023 hashrate.

During the month of March, Argo revealed that it mined 161 BTC, a yield of approximately 5.2 BTC per day, representing a 10% decrease compared to February. The primary driver of the decrease in daily BTC production was the increase in network difficulty. In March, the average network difficulty was 11% higher than in February.

As of 31 March 2023, Argo held 85 bitcoin or bitcoin equivalents and had a total hashrate capacity of 2.5 EH/s. Mining revenue in March amounted to US$4.05 million compared to US$3.76 million in February. Argo Blockchain PLC has announced the appointment of Jim MacCallum as its chief financial officer from April 5.（Proactive Investors）

Bitcoin miner TeraWulf has announced a 65% increase in hashrate capacity to 3.3EH/s in Q1 2023 as of March 31, bitcoin production increased 63% YoY to 233 BTC in March and 533 BTC in Q1 2023, the first nuclear-powered bitcoin mining facility in the US, Nautilus, continues to grow, deploying more than 1.2EH/s of self-mining capacity at the end of the month. Over 1.2EH/s of self-mining capacity. The company remains on track to achieve 5.5 EH/s and 160 MW of operational capacity by Q2 2023.（Businesswire）

Crypto-mining firm Foundry is going to start charging users Bitcoin mining services fees. The company has provided its services for free since launching the mining pool in 2019. Foundry’s “zero-fee” pricing structure helped propel it as a major Bitcoin mining pool, with a network share of about 36%. The company also provides crypto staking services.（Bloomberg）

Fog Hashing and Whatsminer are launching an immersion mining system that offers an official one-year warranty from 5kW overclock to 7kW, claiming a 30% hashrate increase. Bitcoin mining is entering a new era driven by liquid cooling technology, especially immersion cooling, says Paul Jin Li, CEO of Fog Hashing.

According to BTC. com, Bitcoin mining has seen a mining difficulty adjustment at block height 784224, with mining difficulty increasing slightly by 2.23% from its previous high to 47.89 T, a new all-time high, with the current network average hashrate at 342.19 EH/s.

North Carolina’s Buncombe County is considering a 1-year moratorium on new and existing Bitcoin mining operations in the area. The board will discuss and finalize the issue in a public hearing on May 2, 2023. In November 2022, New York’s governor ratified a similar 2-year moratorium on new proof-of-work (PoW) Bitcoin mining operations.（Decrypt）

10.

SBI Crypto sued Riot-owned data centre Whinstone for fraud and misrepresentation of its ability to host large-scale mining operations, specifically alleging “fraud, fraudulent inducement of contracts, non-disclosure of fraud, negligent hosting and breach of hosting services agreement”. Riot Blockchain acquired Whinstone US in May 2021 for 11.8 million common shares and $80 million in cash.（Decrypt）

11.

According to research by RusBusinessNews, Russia was the world’s second largest user of electricity for bitcoin mining in the first quarter of the year for the first time: the US came in first at 3–4 GW and Russia came in second at 1 GW. BitRiver says that this is related to the limited mining activity in Kazakhstan last year. In addition to the low cost of electricity, Russia also has a cold climate that is conducive to mining.

A draft law on domestic mining regulation in Russia was submitted to the State Duma in November last year, but has yet to pass its first reading. Meanwhile, the foreign policy risks facing Russian miners are increasing. The West has tightened sanctions against Russian companies, as well as secondary sanctions against banks, exchanges, mining pools and other foreign players that work with Russian miners.

12、

A US Senate committee in Texas has voted unanimously to pass Senate Bill 1751, which proposes to eliminate tax breaks for local bitcoin mining operations. The bill, sponsored by Republican state senators Lois Kolkhorst, Donna Campbell and Robert Nichols, seeks to eliminate tax breaks and require miners using more than 10 megawatts to register as flexible load operators with national grid operator ERCOT. The bill will next go to the Texas Senate for a full vote, and then to the House of Representatives. In response, Dennis Porte, CEO of Bitcoin mining advocacy firm Satoshi Action Fund, tweeted that the bill would remove incentives for miners to create jobs in rural communities.（Blockworks）

13.

At last Friday’s Filecoin Core Developers meeting, proposal FIP-0056 on SDM was ultimately not passed. The proposal was mainly to encourage a longer sector lifecycle to better match the needs of some real customers. This article summarises the arguments for and against SDM and what the next Filecoin upgrade will entail.

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