Weekly Mining Newsletter
Mining events in Miami make news, Ethereum Classic pump, and a potential Ethereum PoW fork.
Highlights of the week
Bitcoin's hashrate has gone up ~8% over the past week as Texas miners resume power. Meanwhile, several news announcements have been made this week during Mining Disrupt 2022 and Bitmain's WDMS in Miami, i.e. the debut of AntAlpha (finally), Foundry Logistics, AntPool's big push in the Ethereum Classic ecosystem and more.
Speaking of which, Ethereum Classic has surged by over 100% since mid-July when an Ethereum dev released the target timeline for the Merge. Ethereum Classic's hashrate has already climbed up – at least for now – as its hashprice per MH/s catches up closely to that of Ethereum. And Chandler Guo, an OG Chinese miner and influencer, created a WeChat group a week ago with many notable figures in the Asia community to toss the idea of forking Ethereum PoW chains. Get your popcorn ready.
Two more public miners – Stronghold and Mawson – released their full Q2 production data this week so below is a more holistic view of 17 public miners' quarterly production and growth. It's good to see that almost all of them have outpaced the network's competition rise in the past quarter.
P.S – We have created a Telegram news feed that curates and notifies stories in the mining world. Hope you'll find it useful. Tips and suggestions are welcome!
Regulation
Niagara Falls voices concerns over crypto mining facilities — www.wgrz.com Residents say for far too long cryptocurrency mining facilities have been disrupting their daily lives and are demanding city leaders take action.
Texas GOP Aims to Enshrine Crypto in State’s Constitution — www.coindesk.com The Lone Star State is already an important crypto mining hub, and Republican officials appear ready to try build on that momentum.
Hardware
Foundry Starts New Service to Reduce Supply-Chain Lag for Bitcoin Miners — www.coindesk.com The DCG subsidiary's new Foundry Logistics aims to lower time and costs of deliveries of mining computers for its clients
Bitcoin Rig Maker Canaan To Deploy Self-mining Soon in US, Executive Says — forkast.news
Canaan is ramping up its mining business and will soon start self- or joint-mining operations in the U.S.
Finance
Bitmain Partner Antalpha Unveils Lending Products for Miners — www.coindesk.com A relatively unknown company presented some novel ways to, among other things, help miners facing margin calls.
AntPool Supports Ethereum Classic Ecosystem With $10M Investment — www.coindesk.com The mining pool is throwing its weight behind the Ethereum-offshoot alternative that will continue to mine using proof-of-work.
Ethereum Classic Jumps Double Digits After Antpool Adds $10M Backing
Ethereum Classic is up 14% following crypto miner Antpool's $10 million investment and Vitalik's supportive comments.
BIT Mining Completes Sale of Shares of Loto Interactive Limited
BIT Mining Limited has completed its sale of 279,673,200 shares of Loto Interactive Limited at the price of HK$0.28 per share for a total consideration of HK$78,308,496 in cash, or about $10 million.
Infrastructure
Core Scientific Signs Hosting Deal Worth $50 Million per Year — www.theblock.co Bitcoin miner Core Scientific has entered into a hosting agreement that will be worth $50 million yearly.
Bitfarms Completes Phase 2 at Its Bunker Location
The Bunker Phase 2 boosts capacity by 18 megawatts and increases Bitfarms' total hashrate to 3.8EH/s. Its daily production reaches 16.8 BTC.
Crypto Miner Bitzero To Buy Old North Dakota Missile Site for Data Center
A crypto mining company plans to redevelop a northeastern North Dakota anti-ballistic missile site abandoned in the 1970s into a mining data center that intends to have 200 MW in the next three years.
'Ready to go' — Two crypto mining sites coming to Morristown Morristown City Council has unanimously approved two crypto mining sites within the city, according to Mayor Gary Chesney.
General & Features
Bitcoin Mine's Potential New Neighbors Protest Move — www.wjhl.com
They don't know exactly where Red Dog Technologies' relocated Bitcoin mine might go, but people who live near the Washington County Industrial Park know they don't want it near them.