Global Crypto Mining News (Nov 7 to Nov 13)
Bitcoin miner Iris Energy has received a notice of default on $103 million of outstanding debt, with the lender claiming it is behind on payments scheduled for October 25 and demanding that Iris immediately pay all principal and accrued interest. This means that in the event of a default, the lenders would not be able to seize any of Iris Energy’s assets other than the collateral. The loans may come from troubled bitcoin investment firm NYDIG.（CoinDesk）
Riot reports Q3 2022 Results, with 1,042 Bitcoin produced, $13.1 million in power credits, and $369.8 million in working capital, including $255.0 million in cash on hand, and 6,766 Bitcoin (unaudited). In addition to the Company’s self-mining operations, Riot hosts approximately 200 MW of institutional Bitcoin mining clients.
With Bitcoin falling 20% in the last 7 days, miners such as Whatsminer M30S and Antminner S17 Pro have fallen below the shutdown price. The current top bitcoin miner such as the Antminner S19 XP also has a 56% electricity cost share. (f2pool)
During the company’s third-quarter earnings call on Nov. 8, Marathon Digital CEO Fred Thiel revealed the company now holds 11,300 BTC, worth around $205 million, making Marathon the second largest holder of Bitcoin among publicly traded companies worldwide. Second only to MicroStrategy and ahead of cryptocurrency exchange Coinbase and Jack Dorsey’s payments company Block Inc.（Cointelegraph）
Stronghold Digital Mining reported a net loss of $49.6 million in the third quarter. Stronghold’s revenue in the period was $24.7 million, which compared to an estimate of $24.6 million. The miner reported liquidity of about $27 million comprising $27 million cash plus 19 Bitcoin, principal amount of debt outstanding of $82 million, and net debt of $55 million, a 51% reduction since June 30. As previously reported, in August Stronghold Digital Mining entered into debt restructuring negotiations with lenders to improve the company’s financial position and enable it to continue operating for at least the next 12 years.
The number of BTC held by BTC miners just reached 1,831,589.133, a new 5-month low. This follows a 5-month low of 1,832,736.131 on June 12, 2022.
Affected by local hyperinflation and bank restrictions on dollar withdrawals, some Lebanese are engaging in bitcoin mining or using the cryptocurrency to store their wealth. USDT, a stable coin pegged to the U.S. dollar, is also popular, allowing users to exchange it for cash and pay for daily expenses.（CNBC）
Oil and gas giant Shell has announced a 2-year partnership with Bitcoin Magazine to sponsor the 2023 and 2024 Bitcoin Conferences in Miami. Shell is reportedly planning to enter the bitcoin mining space by providing liquid cooling solutions for bitcoin miners.
Top Speed Energy (www.tsedata.com) is committed to spearheading the definition of cryptocurrency mining services in North America.
With years of experience in the local natural gas landscape (original website: www.topspeedenergy.com), on top of run-of-the-mill Grid-powered Bitcoin mining facilities, TSE also extends to set up 100% natural gas-powered facilities as well as 100% hydroelectric ones across a plethora of states and provinces in USA and Canada, including but not limited to Texas, Ohio, North Dakota, British Columbia, and Alberta.
TSE features a double-shift operation and maintenance team, delivering one-hour response promise to ensure the streamline operations of clients’s miners all year around.
Being a local player in North America, TSE poses itself as a trustworthy partner to international clientele — it can assist foreign clients with local incorporation registry, tax planning among with legal advice to help them enter the North American mining market safely and worry-free, in a compliant way.
Contact us Telegram Colinwu1989email@example.com