Weekly Mining Newsletter
Small mining difficulty correction this week, but retail miners are facing potential crisis as profitability shrinks.
Highlights of the week
Bitcoin's mining difficulty had a 4.33% correction this week. CoinDesk reported that it was a result of the shutdown of older equipment after the recent market downturn. The real-time hashrate data from the top 10 pools – see the chart above – reveals some interesting dynamics. Over the month, the leading 3 pools have actually experienced a hashrate increase, especially Foundry USA pool, which is operated by BlocksBridge's client Foundry Digital. That was likely the result of the continuous growth of North American mining institutions who have been energizing new-gen miners. The decreases, on the other hand, mostly came from pools that have less than 30 EH/s of hashrate.
Regulation
Paraguayan Bill Regulating Crypto Mining and Trading Moves Closer to Law — www.coindesk.com The legislation was approved with modifications in the country’s Chamber of Deputies and will now return to the Senate, which had passed it in December.
Tax Guidelines for Crypto Mining Pass the First Reading in Kazakhstan Last year Kazakhstan was housing over 18% of the world’s BTC hash rate — second behind the United States.
Finance
Nvidia’s Crypto Mining Chip Revenue Now ‘Nominal’ Following Months of Decline — www.coindesk.com A drop in crypto mining chip sales dragged down the chipmaker’s OEM business unit year-over-year.
BIT Mining Reports 40% Dip In Revenue During Q1 2022
During the first quarter, BIT Mining produced 166 BTC and 5,420 ETH, generating a revenue of about $6.9 million and $16.0 million, respectively.
Hardware
Ethereum Looks to Phase Out GPU Mining in August With Move to POS — www.pcmag.com
If it happens, then demand for GPUs among crypto miners could seriously dampen.
Crypto Mining Hardware Is in High Demand in Russia Despite High Prices
Russian online retailers have registered a growing demand for new and used cryptocurrency mining machines. This year, the demand for ASIC machines has doubled dramatically.
Infrastructure
Blockware Solutions to Build 150-Megawatt Bitcoin Mining Facility in West Virginia — www.zdnet.com The blockchain infrastructure and mining company is set to build its largest facility yet, and it will run on renewable energy.
General & Features
First a Hum and Then a Bang: Niagara Falls Residents Forced to Reckon With Crypto Mining — www.coindesk.com The city in New York has imposed a moratorium on new bitcoin mining operations as complaints about noise were compounded by an explosion and fire at a mining site last week.
Beijing Banned Crypto Mining, so China Miners Went Underground — forkast.news
Authorities and bitcoin miners play a cat-and-mouse game as miners find means to stay off the government radar and dodge crackdowns.