Wu said weekly mining information 0509-0515

1.

BTC.com shows that the current Bitcoin mining difficulty has reached 31.25 T, an increase of 4.89%, a record high. However, as Bitcoin falls to $30,000, more mining machines will approach the shutdown price.

2.

Bitcoin mining company Riot Blockchain reported its first quarter results for 2022: total revenue in the first quarter reached a record high of US$79.8 million, a year-on-year increase of 244%, of which mining revenue increased by 150%; BTC production increased by 186% to a record high of 1,405 BTC, and the yield rate remained at approximately 67%; as of April 30, the company's unaudited BTC holdings were 6,320 BTC.

3.

Bitcoin mining company CleanSpark reported its first quarter 2022 financials: revenue for the quarter grew to $41.6 million, an increase of $33.5 million from the same period last year; total assets were $424.8 million, of which cryptocurrencies amounted to $17 million.

4.

Internet company The9 Limited announced that its wholly-owned subsidiary NBTC Limited and Kyrgyzstan-based SolarCoin LLC have signed a purchase agreement for the Kyrgyzstan Blockchain Computing Center. The9 will acquire 31.5MW of power capacity to deploy its 7,500 Antminer S19J Bitcoin mining machines, contributing approximately 675PH/s of computing power.

5.

Bitcoin mining company Hive plans to complete a 5-for-1 consolidation of its common shares on or about May 20, 2022 and begin trading on the TSX Venture Exchange and Nasdaq. As of the date of this announcement, Hive has 411,209,923 common shares issued and outstanding. On a post-consolidation basis, the company will have approximately 82,241,984 common shares issued and outstanding.

6.

Bitcoin mining company Iris Energy announced its third-quarter results for fiscal year 2022: revenue was US$15.2 million, a year-on-year increase of 445%; 357 BTC were mined, a year-on-year increase of 449%; the record average operating hash rate was 833 PH/s, a year-on-year increase of 686%, exceeding the previously announced site capacity of 0.7 EH/s; the installed capacity of four data centers expanded to 15 EH/s.

7.

Green data center developer Soluna Computing, Inc. announced that it has closed a $35 million financing round led by private equity firm Spring Lane Capital, which will help develop three behind-the-meter (BTM) projects designed to convert wasted renewable energy into clean computing services such as Bitcoin mining and artificial intelligence.

8.

According to F2pool data, as Bitcoin price drops to around $27,000, many mining machines including the Antminer S9 series have reached the shutdown price, calculated based on the electricity fee of 0.4 yuan. In addition, Antminer S11, Shenma M10, Avalon A9 and other mining machines are currently close to the shutdown price.

9.

Nasdaq-listed crypto mining company Argo Blockchain recently confirmed that the company has promoted Justin Nolan to Chief Growth Officer, who will be responsible for promoting Argo's business expansion. Nolan was previously the co-founder and CEO of DPN LLC, which originally developed the Helios project and was acquired by Argo in March 2021. After the acquisition, Nolan served as vice president of business development at Argo. (Finance Magnates)

10.

Argentinian crypto mining company BitPatagonia recently saw its electricity bills rise 400% due to policy changes affecting local miners, the company’s industrial director said.

Sources said the Argentine government was unhappy with the energy consumption of mining companies. As a result, in January this year, the government increased wholesale electricity prices in Tierra del Fuego by 170%, specifically targeting digital asset miners.

The Argentine government, alarmed by growing crypto mining activity, began an investigation in December to identify mining companies and measure their energy consumption. It said at the time that the goal was to make miners "face paying energy prices that are comparable to the cost of supply, as the prices they pay residential users are unfair."

The Argentine government pays huge subsidies to different entities that provide electricity and natural gas, reducing the final tax rate for taxpayers. According to a report released by the Argentine Institute of Budget and Public Finance Management, in February this year, the energy subsidy budget increased by 207% compared with the same period in 2021. (CoinDesk)

11.

According to Glassnode on-chain data, the balance of BTC miners' addresses has reached a four-month low of 1,819,654.240. The previous four-month low was on May 9, when it was 1,820,300.618.

12.

Russian crypto mining giant BitRiver denies US allegations, claiming it does not help the Russian government evade global sanctions. BitRiver will sue the US Treasury over new sanctions against Russian companies and individuals. BitRiver claims the US sanctions are unreasonable. The company also believes the restrictions are illegal and it will work to remove it from the US blacklist. (Crypto Politan)

Earlier on April 21, the U.S. Treasury Department sanctioned Russian Bitcoin miners. Among the target companies of U.S. sanctions, BitRiver was founded in 2017 and its mine uses hydroelectric power. The Office of Foreign Assets Control singled out 10 Russian subsidiaries of BitRiver in a series of recent sanctions against companies and individuals who helped Russia mitigate the impact of economic penalties.

13.

Bitcoin mining company Hut 8 reported revenue of 53.3 million Canadian dollars and net income of 55,708 Canadian dollars in the first quarter of 2022. The company said in a statement on Thursday that the deployment of 9,592 new MicroBT mining machines helped them achieve "strong results" in the first three months of the year. Nevertheless, according to the statement, they were "partially offset by the decline in the average price of Bitcoin." The new mining machines increased the company's hash rate to 2.54 exahash per second (EH/s), an increase of 27% from the end of 2021. At the end of the quarter, it held a total of 6,460 BTC. (The Block)

14.

The Texas Blockchain Council, a trade association representing the Texas Bitcoin mining industry, announced that Bitcoin miners have responded to the conservation notice issued by ERCOT. Some facilities are shutting down, while many will taper off during the peak demand for electricity this weekend afternoon, but will be turned back on when demand subsides. Miners who have signed up for ancillary services within ERCOT are preparing to shut down power in accordance with ERCOT's instructions. As the Bitcoin mining industry matures, more and more loads will have the technical ability to utilize demand response and controllable load resources, creating more dispatchable loads for all Texans to use during peak demand periods. (Cryptonewsbtc)

15.

Iran has closed 6,914 unlicensed cryptocurrency mines. It is reported that these mines consumed about 645 megawatts of electricity without obtaining mining licenses, which is equivalent to the annual electricity consumption of the three main regions of North Khorasan, South Khorasan and Chaharmahal-Bakhtiari. Iran introduced a cryptocurrency mining licensing system in July 2019, and has since been tracking down underground crypto mines and confiscated hundreds of thousands of mining machines. (Bitcoin.com)