Wu said weekly mining information: 0404-0410

1.

Crypto mining giant Marathon Digital Holdings Inc. is open to the possibility of being acquired at the right price, its CEO said. The Las Vegas, Nevada-based company is one of the world's largest bitcoin miners, with a market value of about $2.9 billion. The company predicts that by early next year it will be able to generate 10% of the total computing power for the bitcoin network. (Bloomberg)

2.

The Litecoin Foundation announced that it will cooperate with Antpool to establish a digital currency research laboratory "LTC Labs", which will focus on research and information on anonymous transactions, decentralized applications, digital currency evolution, wallets and other projects focused on developing the Litecoin ecosystem. Antpool will donate half of its Litecoin mining pool mining revenue every month to fund LTC Labs and directly support development programs.

3.

Nasdaq-listed HIVE Blockchain Technologies recently announced its mining data for March 2022, producing 278.6 BTC and over 2,400 ETH. As of April 3, 2022, HIVE holds 2,568 Bitcoin and 16,196 Ethereum.

4.

WhatsMiner announced the launch of the WhatsMiner M50 series. The M50S uses Samsung's 5nm chip, has a computing power of 126T, an energy efficiency ratio of 26J/T, and a power of 3276W. The water-cooled mining machine M53 has a computing power of 240T and an energy efficiency ratio of 29J/T. The M50 series will start shipping in the third quarter of 2022.

5.

According to CoinDesk, Canaan launched a new Bitcoin mining machine Avalon 1266 at the Miami conference, with an energy efficiency ratio of 35J/T and a computing power of 100T.

6.

On the 8th, the Shanxi Provincial Development and Reform Commission issued the "Notice on the Implementation of Differential Electricity Pricing Policy for Virtual Currency "Mining" Electricity", deciding to implement a differentiated electricity pricing policy for virtual currency "mining" electricity from May 10, with an additional charge of one yuan per kilowatt-hour. For the same user who mixes mining electricity with other electricity, a differentiated electricity price will be applied based on the total electricity consumption.

7.

Digihost (DGHI) will become the first publicly traded mining company to offer shareholders the option of receiving dividend payments in Bitcoin starting in the third quarter of this year.

The company’s first dividend will be 10% of its net earnings in the third quarter of 2022. Shareholders will have the option to receive the dividend in BTC or cash, Digihost said in its announcement on Monday. The rest of Digihost’s net earnings will be reinvested to fund future business needs and opportunities.

The company said that the average computing power is expected to be 1.5 EH/S in 2022, which is about 5.5 times the average computing power in 2021. Currently, Digihost's computing power is 1 EH/s, and it produces 4.25 bitcoins per day. The output of Bitcoin mining in the first quarter of 2022 was 186.8, an increase of about 78% over the same period last year. (CoinDesk)

8.

On April 4, Bitcoin mining company Northern Data released its financial statements, noting that the company had added about 21,000 machines by the end of March 2022. The newly added machines increased the company's hash rate from 2 EH/s in February to 3.95 EH/s at the end of March. NorthernData said that 21,700 machines are managed machines, and the remaining miners are dedicated to the company's own accounts. By the end of this year, more than 100,000 ASIC systems are expected to be in operation, about 9.3 EH/s. In addition to ASIC miners dedicated to mining Bitcoin, NorthernData is also mining Ethereum. In March 2022, the company mined 286 BTC and 5,031 ETH, which brings the company's cryptocurrency holdings to 1,000 BTC and 35,200 ETH, holding about $168 million in crypto assets. (News Bitcoin)

9.

Bitcoin mining company Gryphon Digital Mining announced on Monday that it would not go public through a reverse merger with data management company Sphere 3D. Gryphon and Sphere said they had agreed to terminate the agreement due to factors including changing market conditions, the passage of time and the companies’ relative financial positions.

The two companies said they will continue to collaborate through their Master Services Agreement, whereby Gryphon will receive operating revenue from managing Sphere 3D’s mining rigs, while Sphere 3D will benefit from Glyphon’s expertise in mining.

It is reported that Gryphon Digital Mining is a private company focused on Bitcoin mining using 100% renewable energy.

As previously reported, Gryphon Digital Mining announced in June last year that it would be listed on the Nasdaq through a reverse takeover of Sphere 3D, which was initially planned to be completed in the third quarter of 2021. However, due to the complex regulatory approval process, the two companies postponed it to the fourth quarter and then to the first quarter of 2022. (CoinDesk)

10.

Bitcoin mining company BitNile announced today that it has invested a total of $127 million in its Bitcoin mining operations in its Michigan data center, including $114.7 million to purchase mining machines from Bitmain and $12.3 million to purchase data centers and improve infrastructure. (BusinessWire)

11.

Crypto mining companies Bit Digital and BitMine Immersion Technologies have signed a letter of intent to establish a hosting relationship that will initially include 7,000 ASIC mining machines. The move comes a few months after New York-based Bit Digital shifted its focus to North America.

Bit Digital and BitMine Immersion plan to start delivering ASIC miners in the coming weeks and months and reach expected production capacity by the end of August. It is reported that Bitmain's latest Antminer starts at $7,500, so the value of the agreement may be between $50 million and $60 million. The two companies plan to mine Bitcoin mainly in immersion cooling containers, which can keep the machines cool, thereby improving output and energy efficiency. (CoinDesk)

12.

Crypto mining company Hut 8 Mining Corp. released a monthly production update for March 2022, mainly as follows:

- A total of 345 bitcoins were produced, with an average of 11.1 bitcoins produced per day;

- 100% of self-mined Bitcoins were deposited into escrow in March;

- As of March 31, 2022, the total balance of Bitcoin reserves is 6,460;

- Current production capacity is 2.54 EH/s;

- A total of 560 new MicroBT M30S and M31S+ miners were installed in March;

- A third mining facility in North Bay, Ontario is nearing completion and will begin operations in May;

- The profits from the ATM products announced in February 2022 will be used to develop the mining business. (Newswire)

13.

Russia's Ministry of Industry and Trade plans to create a legal system that would require Bitcoin and crypto miners operating in the country to give priority to domestically produced mining machines and applications and purchase them from Russian suppliers whenever possible. The proposal comes from Minister Denis Manturov, who said that changes should be made at the "legislative level to require the priority use of Russian equipment," provided that the equipment "is available on the market." (Cryptonews)

14.

The New York Supreme Court rejected a petition filed by the Sierra Club and Seneca Lake Guardian to stop Bitcoin mining company Greenidge's cryptocurrency mining project in Seneca Lake, New York. Judge Daniel J. Doyle ruled that the project would not affect the air and water quality of Seneca Lake, and Greenidge also stated that it would comply with New York State's environmental requirements.

15.

U.S. bitcoin mining giants are looking to Scandinavia, the Middle East and other regions to expand their energy-intensive, lightly regulated industry.

According to reports, Mike Levitt, CEO of Core Scientific, a mining company based in Austin, Texas, said at the 2022 Bitcoin Conference in Miami: "We are looking for energy resource-rich and capital-rich regions such as the Middle East and Scandinavia to expand our business." Marathon Digital CEO Fred Thiel also said at the conference that he is also paying attention to the Middle East, saying that "the Middle East is a very interesting place because they have asymmetries in electricity and energy." (Bloomberg)

16.

On April 8, blockchain infrastructure and hosting service provider Compute North announced the launch of a new 300 MW Bitcoin mining facility in Texas. The TIER 0 data center will be located near the Wolf Hollow power plant, and eventually, the company aims to expand the facility to 600 MW.

Additionally, ComputeNorth will provide grid balancing services to the Energy Reliability Council of Texas (ERCOT). The company’s TIER 0 data center is said to provide “the ability to respond quickly during peak demand periods that stress the grid.” Additionally, the new data center aims to employ “30 positions” for the facility.

In February, Compute North completed $385 million in equity and debt financing. Of this, $85 million in equity financing was jointly led by Mercuria and Generate Capital, with participation from National Grid Partners under National Grid. The $300 million in debt financing was also provided by Generate Capital. Compute North refers to the equity financing as its Series C financing, and the overall financing as a growth capital round. (Bitcoin.com)

17.

On April 6, the government of Abkhazia, the Independent Republic of Georgia, extended the current restrictions on cryptocurrency mining until the end of 2022. On April 1, the Sukhumi Cabinet passed corresponding amendments to the decree issued in December 2020, which banned the use of electricity for cryptocurrency mining and stopped the import of related equipment. In fact, the country has been struggling with power shortages and has held talks with its main supporter, the Russian Federation, to ensure additional energy supplies. Frequent failures of its power infrastructure have also been blamed on crypto miners. These ongoing problems have delayed plans to legalize and regulate the industry. Previously, Abkhazia had previously extended the mining ban, which was implemented in December 2020 due to frequent power outages and power shortages, from June last year to the end of March this year. (bitcoin.com)

18.

On April 7, Russian Prime Minister Mikhail Mishustin said on Thursday that the Russian government fully supports the central bank's position that cryptocurrencies cannot be regarded as legal tender in the country, but issues related to cryptocurrency mining can be discussed. Mikhail Mishustin said that the use of digital currencies as a means of settlement will continue to be banned. "We are opposed to recognizing cryptocurrencies as a means of payment or currency. We also believe that in order to stimulate investment, mainly fixed capital investment, we can discuss mining issues, including the establishment of data centers and related infrastructure." (RT)

19.

On April 8, Blockstream and Block (formerly Square) will build a Bitcoin mining facility at a solar and battery-powered site in Texas. The power plant uses Tesla's solar and storage technology. Tesla's 3.8 MW solar photovoltaic array and 12 MWh Megapack will power the facility. Blockstream co-founder and CEO Adam Back said at the Bitcoin 2022 conference that the facility will prove that 100% renewable energy can be used for large-scale Bitcoin mining. (CNBC)

20.

According to the Southern Metropolis Daily, the Guangdong Provincial Development and Reform Commission recently announced a series of typical cases of virtual currency "mining" rectification work, including Yunfu City's unswerving in-depth virtual currency "mining" rectification work, Dongguan City's vigorous governance and rectification and in-depth virtual currency "mining" rectification work, and Foshan City's Chancheng District's virtual currency "mining" group prevention and comprehensive governance work. The Energy Conservation Department of the Guangdong Provincial Energy Bureau stated that this type of "mining" activity has a large energy consumption and carbon emissions, a low contribution to the national economy, and a limited role in driving industrial development and scientific and technological progress. Its blind and disorderly development has an adverse impact on promoting high-quality economic and social development, and has been included in the elimination category of the "Guidelines for Industrial Structure Adjustment (2019 Edition)". Previously, Guangzhou, Jieyang, and Huizhou have all carried out virtual currency "mining" rectification work.

twenty one,

On April 2, the Dongguan Municipal Development and Reform Bureau took the lead in jointly organizing a law enforcement team with the Qingxi Town Economic Development Bureau and Changshantou Village to carry out an operation and successfully shut down the "mining" den. Law enforcement officers cut off the power supply to the "mining" den in accordance with regulations and sealed up 145 "mining machines".

twenty two,

Sichuan Power Exchange Center: In accordance with the requirements of the "Notice on the Compulsory Delisting of Chengdu Shenli Technology Co., Ltd." issued by the Sichuan Development and Reform Commission and other four departments (Sichuan Development and Reform Energy [2022] No. 162, hereinafter referred to as Document No. 162), Chengdu Shenli Technology Co., Ltd. has been involved in virtual currency "mining" and has concealed relevant circumstances and entered the power market in violation of regulations. It will be forced to withdraw from the Sichuan power market from March 26, 2022. The delisting time is from March 26, 2022 to March 25, 2023. The time for the user to re-apply for market entry will be determined separately depending on the rectification situation. From now on, the Sichuan Power Exchange Center will cancel the power trading platform account of Chengdu Shenli Technology Co., Ltd. and delete it from the market entity directory. The company will register again as a new user. From the date of the issuance of Document No. 162, all users in the power market of our province who are found to have participated in virtual currency "mining" will be subject to compulsory delisting.