Global Crypto Mining News ( Dec 6 to Dec 12）

According to BTC.com data, the total network hashtate in recent three days is 183 EH/s, which has returned to the peak of Bitcoin’s network-wide computing power in May. After May this year, the network hashrate plummeted by 50% due to China’s crackdown on bitcoin mining policies. The main hashrate is now migrating to the US, with US mining pool Foundry currently ranking second in hashrate share, behind Ant pool.

As of Dec. 13, miners had dug out 18,899,350 BTC, or 90 percent of the total bitcoin, according to CMC data.

According to the energy bureau of yunnan province: since this year, to combat the currency “dig” behavior, truly standardize provincial order of hair, supply and utilization of yunnan province energy department rapid organization state administrative departments of electric power and power grid enterprises to carry out the special joint law enforcement, resolutely removed virtual currency such as COINS “dig” mill, plant, and power supply facilities. By the end of September, after three rounds of cleaning and rectification, sorting and summarizing 246 small and medium-sized hydropower stations privately supplying power to bitcoin “mining” enterprises, power supply has been suspended in accordance with the relevant national requirements, and most mining machines and plants should be demolished. According to preliminary estimates, small and medium-sized hydropower stations in Yunnan have “cleared up” illegal power supply for bitcoin mining, saving about 2 billion KWH of electricity in the whole year.

According to Bloomberg, a large number of miners are expected to go to Texas in the next two years. Because of its cheap electricity and regulation, this will cause demand to 5,000 MW, which is equivalent to 1.5 million S19.

DCG subsidiary Foundry has launched a dedicated platform to sell bitcoin mining machines. Foundry said it has built relationships with over 200 buyers and sellers, including public mining companies, family offices, and energy companies. Foundry said it currently has over 40,000 units of the latest bitcoin mining machines from Bitmain and MicroBT available for delivery through next year.

According to The Block Research, ethereum mining revenue surpassed bitcoin for the seventh consecutive month in November. Last month, bitcoin miners generated $1.69 billion in revenue, down 2 percent from the previous month. Conversely, ethereum miners earned $1.99 billion — an 11.8% increase from October — and in dollar terms, 1.18 times more overall than bitcoin miners earned in November.

Hut 8 announced an agreement with Foundry Digital LLC for the purchase of 2,505 MicroBT M30S what mining machines, increasing Hut 8’s self-mining operation capacity (including NVIDIA GPU) to approximately 1.94 EH/s. These machines are currently installed at the company located in Alberta, Canada.

According to a summary by New Delhi TV, India’s new draft crypto asset bill will have four restrictions.

1, prohibit the use of cryptocurrencies as fiat currency

2. Prohibit mining

3. Prohibit the use of cryptocurrencies as a means of payment

4. Requirement to allow transactions only in exchanges that conduct KYC.

According to CoinDesk, the Kazakh government’s October promise not to cut off power to legitimate miners may not be fulfilled. Industry insiders estimate that between 200 MW and 500 MW of legal miners will be shut down in December. Miners are now looking to move operations to the U.S. and Russia.

10.

Shaanxi police said that the province’s special action to combat electricity theft since the launch of the crime, effectively avoiding the loss of state property, the detection of large bitcoin “mining machine” theft case, Hanzhong Hantai Tongda Transport Co..

11.

November 17, 2021, Guiyang City, Guizhou Province Public Security Bureau police in the area of special inspection of Internet cafes found that a number of Internet cafes under the jurisdiction of the “mining” behavior.

12.

Bitcoin’s network-wide mining difficulty rose 8.33% on Dec. 11, the highest rise since Aug. 25.

13.

According to finbold, citing statistics from CoinMetrics, Dogecoin miners have seen a significant increase in mining revenue this year, with the latest data from the site as of Dec. 9 recording a current total of $1.08 billion. Dogecoin mining mechanism is the bonus of mining litecoin, but at present, the revenue of mining dogecoin has exceeded litecoin by a lot.

14.

AnexMINER has launched its own Ethereum hashrate chip, Anexet, with computing power of up to 6000MH/S. Three supercomputing devices will be launched soon, ET3, ET5 and ET7. prototypes and the first products are expected to be available in January 2022. 2022, they also plan to launch their own Bitcoin-based network-based chips.

15.

ERCOT interim CEO Brad Jones declares he’s pro Bitcoin. “I’m pro bitcoin…but I’m too risk-averse to be an investor in bitcoin.” ERCOT is known to supply electricity to about 90% of the state. Brad Jones notes that Bitcoin mining in the state could be mutually beneficial to Texas and the Bitcoin network. This is because Bitcoin miners need a lot of energy, and the state can supply that at very competitive prices. The power supply output is even expected to increase as the company has plans to onboard a lot of renewable energy generation to the grid. He notes that Bitcoin miners can “soak up” this excess power supply in times of low demand. Rep. Ted Cruz, R-Texas, echoed the same sentiment.

Crypto mining stocks, which are most levered to bitcoin and ether prices as most have been holding onto the mined coins on their balance sheets, on Monday continued their slump that started in the beginning of the month.

Large-cap miners Marathon Digital (MARA) and Riot Blockchain (RIOT) both fell more than 5% early in the day, although Marathon eventually recovered most of those losses. The shares of other miners such as Argo Blockchain (ARBK), Hut 8 (HUT), Hive Blockchain (HIVE) and Cipher Mining (CIFR) were down 9%, 3%, 6% and 12% respectively.

Meanwhile, bitcoin miner Greenidge Generation (GREE) was the only outperformer among mining stocks on Monday, rising about 9% in a bounce back following its sharp decline last week after U.S. Sen. Elizabeth Warren expressed concern about the miner’s environmental footprint.Other crypto-linked stocks such as MicroStrategy, which buys and holds bitcoin on its balance sheet, also fell 6%.

17.

Argo Blockchain told investors it mined 185 Bitcoins in the month of November, taking its tally of mined Bitcoins in 2021 to 1,831.

The company in a statement said it has retained and at the end of November held some 2,317 Bitcoins or equivalents.

It generated £8.29mln of mining revenue in the month, up from £7.24mln in October.

Argo highlighted that it continues to expand its mining capacity, at the end of November adding an additional 310 ‘petahash per second’ (PH/s) to take total capacity to 1.605 exahash per second (EH/s) by the end of the month.

18.

Bit Digital announced today it has become a member of the Bitcoin Mining Council (BMC), joining MicroStrategy and founding members Argo Blockchain, Core Scientific, Marathon Digital Holdings, Riot Blockchain and Galaxy Digital, among others.

19.

A lack of power in Iceland has caused the island’s main utility, Landsvirkjun, to reduce supplies to some industrial customers, such as aluminum smelters, data centers and fish meal factories, as well as turn away new Bitcoin miners.

Low hydro reservoir levels, a malfunction at a power station and a delay in obtaining power from an external producer led to the reduction, effective immediately, the company said on Tuesday. In addition to fish-feed plants, the reductions apply to large customers on curtailable short-term contracts. Record demand also played a part, said Tinna Traustadottir, executive vice president of sales and customer service at Landsvirkjun.

While Iceland’s biggest consumers of electricity are the giant smelters built decades ago to benefit from cheap power, the most recent entrants to the country’s market are cryptocurrency miners. Canada’s Hive Blockchain Technologies Ltd. and Hong Kong, China-listed Genesis Mining Ltd. and Bitfury Holding BV are among the companies that have opened mining operations in Iceland.

20.

Russia’s Irkutsk Oblast is considered the “mining capital” of Russia due to its low electricity prices, Sputnik reported on Dec. 8. Irkutskenergosbyt reportedly filed 85 lawsuits against the owners of cryptocurrency farms in private homes, involving 73.3 million rubles. Kommersant reported that the company was able to recover 18.7 million rubles as it changed the electricity tariff for nine cryptocurrency farms from the residential tariff to the corporate tariff. Irkutsk Oblast, Russia, has the lowest electricity prices in Russia, the report said. Since January, Irkutskenergosbyt has identified more than 1,000 “gray” miners in the region. The company believes that cryptocurrency farms affect the stability of the electricity supply and can cause accidents.

21.

Hut 8 Mining Corp is pleased to announce its Environmental, Social and Governance (“ESG”) objectives as a part of its efforts to lead the global industry in innovation, inclusivity and sustainability. These include achieving carbon neutrality for scope 1 & 2 GHG emissions by 2025; reducing emissions through technological and operational innovation; fostering workplace health and safety, and maintaining zero total recordable incidents and so on.

22.

CleanSpark, a sustainable bitcoin mining and energy technology company, has bought 20-megawatt, immersion cooling infrastructure for its Norcross, Ga., bitcoin mining facility and is aiming to increase its mining efficiency by over 20%. The technology will increase its mining efficiency and reduce its operational expenses.

The use of immersion cooling at CleanSpark’s Norcross plant will occur in phases, with the first eight megawatts expected to be online in February. When fully implemented, the project will consist of 180 liquid-filled tanks, with each tank holding 33 units of the Antminer S19j Pro mining machines, the company said.

As of Nov. 30, the miner has a fleet of about 12,900 latest-generation bitcoin miners with a total hashrate of 1.3 exahash per second.

23.

Iris Energy , a Sydney-based company that mines bitcoin primarily with renewable energy, said its monthly revenue and number of bitcoin mined fell in November, mainly due to timing issues and an increase in network difficulty, according to a statement. Mining revenue in November was $6.59 million, falling 10% from $7.34 million in October. Iris mined 113 bitcoins in November, an 11% decline from 127 bitcoins in the previous month.The company also noted that its operational performance “remained strong” during November as the miner continued to ramp up its mining power. However, the performance was slightly impacted at the end of the month due to a scheduled outage and firmware updates on some of the miners.

24.

On December 10, Ripple executive chairman and co-founder Chris Larsen has unveiled his plan for Bitcoin miners to move away from proof-of-work (PoW), saying they should view it as “a net positive for their longevity.”

He argues it could provide a major boost to the share prices of listed mining firms, “as any new code proposal would almost certainly have to include lucrative incentives to gain their support.”

25.

According to glassnode，Miner Revenue just reached a 1-month low of $2,863,998.95.