TSE Sponsored：Global Crypto Mining News (Jun 13 to Jun 19)
TSE Sponsored：Global Crypto Mining News (Jun 13 to Jun 19)
Wu Blockchain Exclusive: sources told WuBlockchain that Bitmain, the world's largest bitcoin mining machine company, had a revenue of $8-9 billion in 2021, Whatsminer is about $3 billion, with profit about 50%. But their plans to go public in Nasdaq are difficult due to China-U.S. relations.
According to the Guangdong Communications Administration, June 13 to 19 is the national energy-saving publicity week, the Guangdong Provincial Energy Bureau and Guangdong Provincial Communications Administration jointly carry out a comprehensive regulation of virtual currency "mining" activities. The Guangdong Provincial Energy Bureau and Guangdong Provincial Communications Administration said that they will step up efforts to remedy virtual currency "mining" activities to the end.
CleanSpark announce that it acquired 1,800 Antminer S19 XP units, which will start getting delivered in August. The new miners will add over 252 PH/s to its bitcoin mining capacity. CleanSpark reported revenues of $41.6 million in the first quarter and has $17 million worth of cryptocurrency.（The Block）
According to Bitdeer，after calculating by 0.075/kWh electricity fee, 3% mining pool fee and service fee, T17 and T17+ have reached the shutdown price. According to previous F2pool statistics, the best quality S19 XP and other shutdowns are priced at around $10,000.
Crypto miner Bitfarms raised $34 million with the sale of 1,500 bitcoin, applying those funds to trim a credit-backed facility from Galaxy Digital to $66 million from $100 million. Alongside, the company entered a new $37 million equipment financing deal with NYDIG.
Jeff Lucas, Bitfarms' Chief Financial Officer, said the company is in talks with NYDIG for additional funding which – if eventually agreed upon – might come in July and October as construction continues at the miner’s Bunker facility.（CoinDesk）
Listed miners sold 4,411 bitcoins in May, well above the average of 1,115 bitcoins per month earlier in 2022, according to data from the NYDIG research report. As of the end of May, these miners held about 46,594 bitcoins, or about $1.5 billion at prevailing prices, according to public filings.
Bitcoin mining stocks were down by double digits at market open on Monday morning amid turbulence in crypto and equities markets.
Argo Blockchain, for instance, had fallen by over 18% on the London Stock Exchange and over 16% on Nasdaq. Core Scientific, Iris Energy and TeraWulf stocks were down by 12.87%, -12.66% and 11.32%, respectively.
With many of these companies holding on to a majority of bitcoin that they mine, the value of their assets is largely dependent on the price of bitcoin. Core Scientific, for example, held 8,058 BTC as of May 31, according to a recent statement.（The Block）
CoinMetrics analyst Kyle Waters tweeted a net 88K BTC was sent to exchanges from miners yesterday, a new all-time high.
Riot Blockchain is building the world’s largest crypto mining facility on a 265-acre property in the town of Corsicana, Navarro County, Texas. The company plans to power its facility through a high-voltage transmission line.
The new facility will be 30% larger than the company’s existing facility in Rockdale and will have a maximum capacity of 1 gigawatt. According to the report, this is enough to power 300,000 to 1 million U.S. homes and has been announced as a major economic development for the community.
However, the project’s announcement has provoked resistance from some of the locals. One of the things the group is most concerned about is the water usage that the facility would use to cool its equipment at a time when the county is facing a drought. Their other concerns include the potential increase in water and electricity bills.
For these reasons, they have organized themselves through a Facebook page called “Concerned citizens of Navarro Country” and started a petition titled “NO to Riot Bitcoin Mine in Navarro County,” which has so far gathered 635 signatures.（Finbold）
While GPU makers are reluctant to talk about sales to miners, analysts from Bitpro Consulting estimate that Ethereum miners purchased $15 billion worth of GPUs over the last 1.5 years, Bloomberg reports.
When combined with the prices of other parts for their mining rig (CPUs, PSUs, chassis), the amount of money spent on Ethereum mining hardware globally would look even more impressive. Miners might have consumed about 10% of discrete GPU supply in the last 1.5 years.（Tom’s Hardware）
Russia's Gazpromneft and U.S.-sanctioned bitcoin (BTC) mining hosting firm BitRiver plan to develop crypto mining facilities at oil fields. Gazpromneft will provide energy to data centers set up by BitRiver. BitRiver is one of the largest mining firms in Russia, with its local subsidiary managing over 300 megawatts of data centers.（CoinDesk）
Despite the concerns about the environmental effects of Bitcoin PoW mining, a group of United States Congress members has sent a letter to the country’s Environmental Protection Agency (EPA), explaining the practice actually has certain benefits.
Specifically, 14 members of the U.S. Congress urge the agency to pursue “a comprehensive analysis as it relates to understanding the potential environmental effects of digital asset mining,” according to the letter addressed to EPA’s Administrator Michael S. Regan, which crypto analyst Dennis Porter published in his tweet on June 17.
One of the co-signatories, Senator Cynthia Lummis confirmed the authenticity of the letter, dated June 16, by retweeting it.
As per the letter, “the United States is the global leader in financial services and technology innovation. At a time of rapid technological change, we must affirm our commitment to responsible innovation to ensure future generations of Americans continue to enjoy prosperity and opportunity.”
Explaining the benefits of crypto mining for the environment, the Congress members stated: “As you know, a substantial portion of digital asset miners’ energy use is based on renewable sources. Additionally, many miners use other power sources, like natural gas, that may otherwise go unused.”
Moreover, the letter reads that crypto mining can also have “a substantial stabilizing effect on energy grids,” as “it maintains robust baseload levels, yet it can be switched off quickly in times of peak demand.”（Finbold）
Filecoin Green’s $1 million Green Grants Program will support climate positive Regenerative Finance (ReFi) initiatives.
The grants program is an expansion of the Filecoin Green mission that aims to measure the environmental impacts of Filecoin and verifiably drive them below zero, building infrastructure along the way that allows anyone to make transparent and substantive environmental claims.
Instead of building an economy based on extraction, ReFi shifts the focus to regeneration of the Earth and the goods and services it supplies. ReFi creates a paradigm shift from competition to collaboration through actors working to achieve a sustainable and natural system at the intersection of Web3 and climate action.
TSE (www.tsedata.com) is committed to being the North American mining service provider that understands Chinese miners best.
With years of experience in the North American natural gas industry (original business website: www.topspeedenergy.com), TSE can produce its own natural gas and build a 100% natural gas-isolated mine, which has cost advantages and ensures business diversification, and use 100% clean hydroelectric energy in Canada and mixed grid power resources in Texas, Ohio and North Dakota to build a world-class mine. We have a three-shift operation and maintenance team that promises a one-hour response time to ensure the stability of miners' equipment around the clock and bring significant mining revenue.
As a localized mining company in North America, TSE can assist miners with local incorporation, tax planning and legal advice to help them enter the North American mining market safely and worry-free.
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