Wu said weekly mining information: 0313-0320

1.

At the Chengdu conference on March 12, Bitmain highlighted the launch of the ANTSPACE water-cooled container, which integrates hydraulic cooling technology into mining operations and can accommodate up to 210 ANTMINER water-cooled miners. In addition, Bitmain also launched the S19 XP Hyd water-cooled miner, with a computing power of 255T, a power consumption of 5304W, and an energy efficiency ratio of 20.8J/T.

2.

According to community feedback, with the continuous shipment of Bitmain Antminer L7, the computing power of Litecoin has increased recently, with the computing power increasing by nearly 20% in the past 15 days. According to the data from the mining website, the daily net income of an L7 is about 85 yuan.

3.

On March 18, the difficulty of the entire Bitcoin network decreased by 0.35%. This is the first time since July 2021 that the mining difficulty has been reduced twice in a row. On March 4, it was reduced by 1.49%. At present, the computing power of the entire network is around 205EH/s. The computing power of the US mining pool Foundry is far ahead, leading the second place Ant Pool by nearly 30%.

4.

According to Silk Road New Observation, the border guards of the National Security Committee of Kazakhstan seized a batch of digital currency mining equipment that was attempted to be smuggled to Russia by truck, with a total value of about 80 million tenge (about 157,000 US dollars). In addition, some well-known political and business figures are involved in cryptocurrency mining, including the former president's brother.

5.

"Morning News": Recently, the People's Court of Chongming District, Shanghai, tried a case in which the defendant Zhu used his position as a network maintenance staff of a company to install graphics cards, mining software, remote control software, etc. on the computers of customers he was responsible for maintaining in order to "mine". He illegally controlled a total of 25 computers of others and used them for online "mining" to obtain "Ether", and obtained illegal profits of more than RMB 16,000. The defendant Zhu was convicted of the crime of illegally controlling a computer information system and sentenced to 11 months in prison and a fine of RMB 5,000. The judge in charge of the case pointed out that although the current simple virtual currency "mining" activities are not illegal, this behavior does not conform to the new social trend of green, low-carbon and energy-saving, and is not worth promoting.

6.

Hashrate Index: Introducing Bitcoin mining in Oklahoma, USA. Located in northern Texas, Oklahoma is a small state that is very similar to Texas, with abundant energy resources, a well-established oil and gas industry, cheap electricity, and a local government committed to attracting investment and increasing employment. These characteristics, plus other features, make Oklahoma a hotbed for Bitcoin mining in 2022 and beyond.

7.

Bitcoin miners Red Dog and BrightRidge in Nashville, Tennessee, are facing civil lawsuits seeking to shut down the miners, purportedly because residents in the area are suffering from noise from the mining sites. The lawsuit began on Monday (local time) and could take up to three days to reach a verdict. (Decrypt)

8.

Bitcoin mining company BitNile announced that its subsidiary BitNile, Inc. has established a new division, BitNile Mining Solutions ("BMS"), which focuses on the purchase and sale of cryptocurrency miners and related equipment, and provides additional blockchain infrastructure services. (Business Wire)

9.

Crypto mining companies Argo Blockchain and Core Scientific announced on Monday the signing of a mining machine swap agreement that will allow Core to receive Argo's existing Bitmain Antminer S19 bitcoin miners, which are already hosted at Core. Argo will receive the Bitmain Antminer S19J Pro bitcoin miners previously ordered by Core. (TheBlock)

10.

Bitcoin miner Bitfarms announced the acquisition of new land and a building in Sherbrooke, Quebec, Canada, to build a new Bitcoin mining center. The center, called Garlock, will serve as a replacement for the phased-out de la Pointe facility, and it will provide 18 megawatts of power for mining operations. The new facility will be located in a remote area and will be equipped with the latest noise reduction and monitoring technology. The total amount invested by Bitfarms in the new facility is approximately 2.25 million Canadian dollars (approximately 1.76 million US dollars) and 25,000 common stock subscription warrants. (Bitcoin.com)

11.

Listed Bitcoin mining company Bit Digital has deployed 39.2% of its crypto mining machines in North America, including 10,462 Bitcoin mining machines and 712 Ethereum mining machines. According to the company's official news, as of the end of 2021, the company held a total of 27,744 Bitcoin mining machines and 731 Ethereum mining machines, and ordered 10,000 machines from Bitmain in October last year. In addition, Bit Digital disclosed that due to the migration of miners and the redeployment of mining machines, a total of 240.57BTC was mined in the fourth quarter of 2021, a significant decrease from the 695.96BTC mined in the fourth quarter of 2020. (Coindesk)

12.

According to news on March 17, recently, the Development and Reform Bureau of Suyu District, Suqian City, Jiangsu Province, in conjunction with the Cyberspace Administration of China, the Public Security Bureau, the Industry and Information Technology Bureau, the Market Supervision Bureau, Yuxin Street and other departments and operators, launched a special campaign to rectify virtual currency "mining", verify key enterprises, further strengthen supervision, and comprehensively clean up "mining" activities.

13.

Bitcoin miner Riot Blockchain (RIOT) believes this year is a "year of consolidation in the bitcoin mining industry" and expects the company to potentially benefit from this trend. Riot said in a filing with the U.S. SEC on Tuesday that the company will "continue to evaluate strategic opportunities" and may decide to take them as part of its strategic growth plan. According to FactSet data, the miner reported revenue of $213.2 million in 2021, up 1,665% from 2020 and exceeding analysts' average estimate of $210.6 million. The company had a net loss of $7.9 million in 2021, compared with a net loss of $12.7 million in 2020. In 2021, Riot also increased the number of bitcoins held on its balance sheet by 353%, compared with 1,078 in 2020. On March 3, Riot said it held approximately 5,783 self-mined bitcoins as of the end of February. In addition, Riot reiterated its expectation of reaching 12.8EH/s computing power in 2022. By comparison, peer Marathon Digital said it expects to reach 23.3EH/s by early 2023. (CoinDesk)

14.

A report from Arcane Research states that publicly traded Bitcoin miners are "constantly looking for expansion opportunities" as they "plan to increase hash rate at the fastest rate in 2022." The latest data from the Cambridge Bitcoin Electricity Consumption Index shows that 44.95% of the world's hash rate comes from North American miners. This figure "is likely to grow" as the target hash rate of publicly traded Bitcoin miners is expected to increase significantly. (Cointelegraph)

15.

Kevin O'Leary, chairman of O'sShares ETF, has taken issue with Biden's executive order on cryptocurrencies and sold all of his shares in related cryptocurrency mining companies because he is convinced that these companies will quickly become targets of the Biden administration. In an interview, he said that it is not a comprehensive ban, so this is good news, but there is a huge landmine in the order for Bitcoin miners. There are some climate discussions outlined in the executive order, which are mainly aimed at companies that mine Bitcoin and digital currencies. What this bill basically says is that we have to start thinking about the climate issues of cryptocurrency. Now, this is bad news because all these Bitcoin miners use carbon credits to offset their alleged carbon use. There is no known way to audit these companies, which puts them at a huge disadvantage. (Livebitcoinnews)