China's Central Commission for Discipline Inspection: Xiao Yi, former vice chairman of the CPPCC in Jiangxi, has seriously deviated from the major decisions and deployments of the Party Central Committee, violated the new development concept, abused his power to introduce and support enterprises engaged in virtual currency "mining" activities that do not meet the requirements of the national industrial policy, and illegally raised debt for projects and construction, causing a bad impact.
On the afternoon of November 10, China's National Development and Reform Commission organized a virtual currency "mining" governance video conference to inform the virtual currency "mining" monitoring and rectification, and the next phase of work to deploy.
The meeting stressed that the provinces, autonomous regions and municipalities to resolutely implement a good virtual currency "mining" rectification work Department, and effectively take responsibility for the region's virtual currency "mining" activities to clean up and rectify, strictly investigate and strictly deal with state-owned units involved in the "mining" activities.
November 8, "Jiangxi Daily" front page article pointed out: to carry out a comprehensive investigation of virtual currency "mining" issues, and resolutely prevent the new ideas, high-tech, digital banner to repeat the same mistakes.
Filecoin will introduce smart contract programmability to the Filecoin network with the introduction of the Filecoin Virtual Machine (FVM), a native code language of WASM (WebAssembly) that will enable Web2 developers to move faster into Web3 development, as well as an EVM (Ethernet Virtual Machine) compatible FVM that will first enable Solidity developers to deploy smart contracts on Filecoin faster. The FVM will go live in phases, with the first phase expected to be a non-programmable FVM running only system actors on the Filecoin mainnet in Q4 2021. The second phase introduces protocol forks (Q1 2022), introducing preparatory tweaks, including Gas mechanisms and architectural adjustments, before developers can program it. The next two phases will introduce programmability, redesigning system actors and deeper protocol changes to make it easier to program for system actors, and are expected to be completed in 2Q 2022.
MineOne Mining Fund says it has completed its initial raise of over $20 million in 30 days, and the company is registered in BVI and regulated in the US. The management team is co-led by veteran mining investor Chong.W and Dr. Jiaming, who has experience in traditional capital compliance management. It is an investment fund focused on cryptocurrency mining, with ethereum miners, hashrate and mining investments as the main direction, and combined with digital quantification technology to add support, with an initial fundraising target of $200 million in size.
According to WisdomTree, on November 8, Nasdaq-listed Long Run International (LYL.US) announced that its wholly-owned subsidiary Meta Rich Limited and Antalpha Technologies Limited (a subsidiary of Ant Mining Pool) established a joint company with the business of crypto derivatives trading.
According to Russian media outlet Izvestia, the Russian Ministry of Economic Development, the Ministry of Energy and the State Duma (Russia's lower house) have proposed legalizing and regulating cryptocurrency mining as a business activity, but the Central Bank of Russia does not support the move because of the risks associated with cryptocurrencies. Russia's Ministry of Economic Development wants to create a new classification code for the industry to register companies and determine the taxation procedure. Anatoly Aksakov, chairman of the Duma Finance Committee, said miners may be charged higher rates for electricity than for other types of consumption.
Kazakhstan's Energy Minister Magzum Mirzagaliyev said at a meeting with the crypto mining industry that legal crypto mining will not be restricted or disconnected from the national grid, as long as they do not endanger the country's energy security, CoinDesk reports. It was previously reported that Kazakhstan is facing power shortages, and crypto mining is the main reason for this phenomenon. Kazakhstan has become the world's second largest center for bitcoin hashrate after the United States following China's crackdown on crypto mining in May. According to a statement from the ministry, the crypto sector is expected to bring in $1.16 billion in revenue over the next five years.
This comes after Swedish authorities warned of the carbon neutral impact of POW mining and want the EU to ban cryptocurrency mining. Vattenfall, Sweden's state-owned power generation company, defends that bitcoin mining can help balance the load on the grid. Wind and solar power fluctuate greatly, and crypto mining acts as a buffer when there is a surplus of available power. The company also warned that banning crypto mining in the EU could actually increase carbon emissions around the world, as the industry could shift to areas that rely on fossil fuels like coal.
Bitmain officially announced the latest model of the miner, slightly different than previously disclosed by the Thai supplier, with a consistent energy efficiency ratio of 21.5J/T, hashrate 140T and power consumption of 3010W.
CoreWeave closed a $50 million funding round from Magnetar Capital. CoreWeave, which primarily operates a cloud service for ethereum mining from its customers' unused local hashrate, said its cloud business has grown 271% in the last 3 months and it currently operates over 1200GH/s of ethereum hashrate.
Canadian bitcoin mining company Bitfarms has purchased a 24 MW hydroelectric power plant in Washington State for $26 million, which is expected to add 620 PH/s of mining hashrate, with 4,000 Bitmain S19j Pro miners already deployed and 400 PH/s of hashrate.
NBTC Limited ("NBTC"), a subsidiary of The9, and U.S. miner Compute North jointly announced today that they have signed an agreement for Compute North to provide The9 with 32 megawatts of miner capacity to deploy The9's 10,000 Ant S19j miners.
The9 will deploy these miners in the U.S. beginning in the second quarter of 2022. NBTC also has 14,000 S19j miners that are expected to be deployed in other countries, including Canada, beginning in December of this year.
Nasdaq-listed crypto mining company Hut 8 Mining Corp. has released its third quarter earnings report. Hut 8 emphasizes its "HODL" strategy to avoid selling bitcoin as much as possible. Currently, Hut 8 has a total installed hashrate of approximately 1.7 EH/s and a contracted future hashrate of approximately 4.5 EH/s, including ethereum hashrate.
Argo Blockchain, a publicly traded mining company, filed a public debt offering with the SEC to sell $57.5 million of senior notes to the public with a maturity date of November 30, 2026 and an interest rate of 8.75% per annum. Argo noted in the filing that investors may be exposed to a number of risks associated with the development of a new cryptocurrency mining facility in Texas and that delays or interruptions in the development of the Texas facility could have a material adverse effect on its results of operations and financial condition.
Australian bitcoin miner Iris Energy plans to sell about 8.3 million shares in its initial public offering at $25 to $27 per share, according to a filing with the SEC. Iris plans to increase its total hashrate to 15.2EH/s in the future, according to Glassnode data, which shows that the hashrate reached about 10% of bitcoin's network-wide hashrate as of Nov. 8. In addition, Iris says it has now sold all of the bitcoin it mined.
Iris Energy filed for an initial public offering (IPO) with the SEC in October, with plans to raise $100 million and trade on the Nasdaq under the ticker symbol "IREN.
Bitcoin miner Compass Mining has launched a secondary resale marketplace for mining machines for retail mining customers, which offers the autonomy to resell Bitcoin mining equipment and is currently open to all existing Compass customers, along with the introduction of verified resellers.
Publicly traded crypto miner HIVE Blockchain is raising approximately $100 million through a private placement of special warrants. hIVE Blockchain expects the net proceeds from the offering to be used for data center development and miner purchases, among other things, to increase hashrate by 1 EH/s.
HIVE Blockchain previously said in late October that its latest order of 6,500 Avalon bitcoin miners from Canaan will take HIVE's bitcoin mining hashrate to 2 EH/s by December and 3 EH/s by March 2022.
All Ether miners for Poolin's decentralized standard hashrate protocol Mars Project have been delivered and will be deployed today, where the corresponding mining output for Ether will be paid together with the online rate update, effective November 10, 2021 23:59:59 Singapore time. In addition the migration of Bitcoin miners is progressing steadily and the online rate for hashrate credentials pBTC35A will be updated as soon as possible.
North American bitcoin miner Digihost Technology has been approved for listing on the Nasdaq Capital Market and is expected to list on the Nasdaq on November 15, following its listing on the TSX Venture Exchange. digihost Technology is primarily focused on bitcoin mining operations, with a current hashrate of 400 PH/s and It plans to expand to 3.6 EH/s by the end of 2022.