Weekly Mining Newsletter
The New York mining moratorium bill is back to the table. Riot's massive 1 GW Texas plan and the City of Fort Worth is mining Bitcoin.
Highlights of the week
There have been several notable developments in the crypto mining regulatory realm this week. First, the New York Assembly has passed the previously circulated crypto mining bill that seeks to impose a 2-year moratorium preventing new permits from being issued to fossil fuel-based mining operations. So what happens next? This article from The Block provides more contexts.
Quite opposite to the blue state, the city council in Fort Worth, Texas, approved a plan this week to set up three ASIC miners in its City Hall to mine bitcoin. The lower chamber of Oklahoma's state legislature, on the other hand, approved the previously filed Commercial Digital Asset Mining Act of 2022, which aims to provide tax incentives to bitcoin miners. If approved, Oklahoma's proposed law would help cut the spending related to hardware and electricity used by commercial miners. And the Oklahoma Senate conducted its first reading of the bill this week.
Finance
CleanSpark secures $35 million in debt capital — www.theblockcrypto.com The company closed a deal with Trinity Capital Inc. for $35 million in non-dilutive financing.
Bitcoin Miner Blockmetrix Raises $20M in Debt From BankProv and CrossTower The proceeds will go toward buying more mining machines and investing in joint infrastructure ventures.
Bitcoin miner Argo saw a 291% revenue increase in 2021 The company, which has bicoin mining centers in Canada and in the US, announced its 2021 results.
Foundry to Buy Web 3 Company Upstate Interactive to Expand Blockchain Services Foundry didn’t disclose the terms of the deal but said it will close at the end of April.
Hardware
GPUs Get Cheaper as Ethereum’s Switch to Proof-of-Stake Gets Closer — www.coindesk.com The network's planned switch to PoS has been pushing prices for graphics cards down.
Over 1,700 bitcoin mining machines disposed of by Kedah cops
More than 1,700 bitcoin mining machines along with other equipment, the subject of 21 different investigation papers, have been disposed of.
Compass Mining Sells Gear Stuck in Russia to Avoid Sanction
The firm is trying to quickly liquidate $30 million of hardware in Siberia after the U.S. sanctioned a rival over its Russian operations.
Infrastructure
Bitcoin miner Riot announces massive 1 gigawatt expansion plan in Texas — www.theblockcrypto.com The company will initially build out 400 megawatts of energy capacity.
Bitcoin Miner Argo Raises Hashrate Guidance Thanks to Intel Mining Chips The miner now sees 2022 hashrate at 5.5 EH/s from previous guidance of 3.7 EH/s.
Bitcoin Hash Rate, Mining Difficulty Hit New All-Time Highs
Meanwhile, Bitcoin's price keeps constrained in a choppy range.
American Premium Water Corp. acquires cryptomining firm, pivots company to crypto - DCD Company currently offers health products such as a Varicose Vein support gel
Almost 60% of Bitcoin mining now on sustainable energy: BMC A voluntary forum of crypto mining companies said its latest quarterly survey showed the Bitcoin mining is relying more on electricity from sustainable sources.
General & Features
Cryptocurrency mining devices discovered at six Galveston ISD schools — www.chron.com IT workers noticed anomalies on the district's networks, leading to the discovery of...
Battered Bitcoin Miners Increasingly Turn to Debt Financing Raising debt rather than equity to fund growth is being seen as more attractive, analysts say, but not everyone has the option.
A new kind of 'mining' has arrived in the Ohio Valley. What will crypto mean for the region?
Cryptocurrency mining is a burgeoning industry that investors see as a cutting-edge economic opportunity. But critics say it’s compounding the world’s preeminent crisis – climate change.
Energy-thirsty Bitcoin miners seek ways to dump fossil fuels
The AP did a feature story on how Marathon Digital is abandoning the coal-powered bitcoin mining site in Hardin, Montana, in a bid to move to sustainable energy resources.