The Bahamas is seeking to tighten its crypto laws in the wake of the collapse of FTX, according to a statement from the Securities Commission of the Bahamas Tuesday. The new bill will address stablecoins, proof-of-work mining and staking, and it could become “among the most advanced pieces of digital-asset legislation in the world,” Christina Rolle, executive director of the Bahamas’ regulator, said in the statement. The Bahamas, which passed crypto legislation formally called the Digital Assets and Registered Exchanges Act in 2020, was home to FTX.（CoinDesk）
On 25 April CoinDesk cited CryptoQuant data claiming that the semi-bankrupt Poolin had transferred 5,640 BTC from its main wallet on 21 April, but after checking the wallet identified by CryptoQuant may have been 14nr…acji, a huge amount of bitcoin was transferred to Binance that day but its on-chain behaviour is not clearly identifiable as a Poolin wallet.
This address transferred 10,000 BTC six months ago from 3BPA…68X, which was previously identified by JieData as a Poolin wallet, but no longer has a Poolin tag. Therefore, it is possible that a CryptoQuant wallet marking issue, such as confusing a miner’s address that has used Poolin for a Poolin address, is currently being confirmed by CryptoQuant officials.
Poolin has previously distributed around $238 million worth of IOU tokens, including 8,400 BTC, and if it has a large amount of BTC in its wallet, there is no theoretical reason not to pay it back. It is also rumoured that Poolin has pledged BTC to Bitmain to purchase mining machines, so it is possible that the BTC is also held in a Bitmain account or has been closed out.
Crypto miner Argo Blockchain (ARBK) has reported a net loss of £194.2 million ($240 million) for the year 2022, compared to a net income of £30.8 million in the previous year, and a total of 2,156 bitcoins or bitcoin equivalents produced in 2022. At the end of 2022, Argo’s hashrate increased 55% year-on-year to 2.5 EH/s; holding a total of 141 BTC, of which 116 were BTC equivalents.
According to a document recently issued by the Shanghai Municipal Development and Reform Commission, the mid-term evaluation of the “Shanghai 14th Five-Year Plan” for the development of resource conservation and circular economy proposes strengthening the enforcement and inspection of energy conservation and carbon reduction, resolutely curbing the blind development of high energy-consuming, high-emission, and low-level projects, and continuing to clean up and regulate virtual currency “mining” activities.
Ault Alliance, Inc., a diversified holding company, has announced the expansion of the strategic collaboration between its wholly owned subsidiary, BitNile, Inc., and Core Scientific, Inc., a prominent provider of high-performance blockchain computing data centers and software solutions.
The Company announced last month that BNI would operate 3,000 of its S19j Pro miners in Core Scientific’s existing facilities starting in April 2023. BNI and Core Scientific amended their agreement, and BNI will now operate 10,000 of its S19j Pro miners with Core Scientific, starting as of May l, 2023. This will result in BNI expanding its footprint to operate approximately 30 MW of power capacity at Core Scientific’s facilities.（Business Wire）
Bitcoin mining company Vinanz Ltd (AQSE:BTC) has expanded its fleet of bitcoin mining machines with the acquisition of 100 new Bitmain Antminer S19J Pro ASIC rigs for a total cost of US$159,000 (£127,000).The acquisition marks the first expansion of bitcoin mining machines since the group was listed in London on 21 April.
Vinanz now has 120 ASIC miners with a combined Terrahash processing power in North America of 12,000 TH/s, a 650% increase since going public.The 100 new Bitmain Antminer S19J Pro ASIC miners have been ordered from US company Luxor Technology Corporation, and are expected to be delivered in approximately three weeks to a data centre in Canada to go live shortly thereafter.（Proactive Investors）
Core Scientific has signed contracts to host almost 18,000 bitcoin (BTC) mining rigs with three firms as it negotiates its way through Chapter 11 bankruptcy.
Core Scientific will host 6,914 mining rigs for Greenidge Generation Holdings (GREE), 10,000 units for Ault Alliance (AULT) and 1,021 for LM Funding (LMFA). Once fully installed in May, they will bring the total number of machines the firm is hosting to about 70,000. That’s on top of the 155,000 machines it uses to mine for itself as of March-end. The contracts are a mix of variable pricing and proceeds-sharing deals, the firm said.（CoinDesk）
Bitfarms hitted a new hashrate high of 5 EH/s, equivalent to 5 quintillion hashes per second. This new all-time high was made possible by the expansion of production at the company’s mining farm in Rio Cuarto, Argentina, which began operations last year.
The facility in Argentina immediately boosted Bitfarms’ hashrate to 4.1 EH/s from 3.9 when it went live in September 2021. Bitfarms has continued to increase its hashrate by taking advantage of low energy costs in the region. The company has now announced that it is targeting a hashrate of 6 EH/s by the end of this year, as it takes advantage of further expansion opportunities.
The expansion in Bitfarms’ mining operations in Argentina has been the primary driver of its recent growth. The company has been able to take advantage of the low energy costs in the region to increase its hashrate and lower its overall cost of mining Bitcoin. The energy costs for the site are currently below $0.03 per kWh, giving Bitfarms a “best-in-class average cost of Bitcoin mined,” according to the company’s CFO, Jeff Lucas.（Cryptopolitan）
The World Economic Forum (WEF) turns into an advocate for Bitcoin mining, recognizing the economic and environmental benefits of Bitcoin mining. The WEF started supporting some aspects of the crypto market and mining in recent times after criticizing crypto for its high energy consumption.
In a recent video by the World Economic Forum, the organization shared how some crypto miners such as Crusoe Energy can help oil and gas companies mitigate waste and emissions that impact the environment.
In the video, Crusoe Energy CEO Chase Lochmiller explains how the company uses excess natural gas from energy operations to power data centers and crypto mining operations. Crusoe uses the Digital Flare Mitigation technology to eliminate natural gas flaring from oil fields and landfills.
Crusoe can relocate their data centers to the location of waste sources of energy and use waste methane streams to power the centers. It helps reduce the environmental impact of methane emissions and makes computing more energy efficient.（Coin Gape）