Wu said weekly mining information 1220-1226

1.

On December 23, North American mining company Marathon announced that it had signed a contract with Bitmain to purchase a record number of ANTMINER S19 XP (140 TH/s) Bitcoin mining machines. It is expected that all newly purchased mining machines will be shipped between July 2022 and December 2022, increasing the computing power by 10 EH/s, and it is expected to exceed 71,000 units, and the total amount may exceed US$400 million.

2.

According to Forbes, Wu Jihan said that Matrixport now manages and custodies assets of $10 billion, with an average monthly trading volume of more than $5 billion. Bitdeer currently operates five mining farms in the United States and Norway, managing more than 100,000 mining machines. In addition, he said that the current innovation of DeFi is amazing.

3.

Economic Information Daily: "We received the first monitoring list of virtual currency 'mining' handed over by our superiors on October 12 this year. After verification, the problematic IPs reported so far are all personal behaviors." A person in charge of the Development and Reform Commission of a prefecture-level city said that the superior department notified that the rectification target is the "mining" project and required it to be included in the eliminated industry, but there are no specific requirements for individual "mining" behavior. "The four households we selected in our jurisdiction are also residential users, but as long as they do not steal electricity or owe electricity bills, we cannot take restrictive measures against them except for continuous monitoring."

4.

According to China.com, the Fuzhou Municipal Commission for Discipline Inspection and Supervision has filed a case for review and investigation of the serious violations of discipline and law by Luo Shunquan, former member of the Party Working Committee and former deputy director of the Management Committee of Fuzhou High-tech Industrial Development Zone. After investigation, it was found that Luo Shunquan had lost his ideals and beliefs, betrayed his original mission, failed to implement the decisions and arrangements of the Party Central Committee, violated the new development concept, introduced, supported and directly participated in enterprises engaged in virtual currency "mining" activities that did not meet the requirements of national industrial policies, abused his power for personal gain, colluded with "mining" enterprises, formed a community of interests, and resisted organizational review.

5.

Economic Daily: There should be no blind spots in the supervision of virtual currency “mining”. As the blind spots in supervision are eliminated one by one in the future, I believe that the goal of clearing virtual currency “mining” to zero will not be too far away.

6.

Data shows that Bitcoin mining revenue in 2021 (excluding electricity costs) exceeded $15 billion, a year-on-year increase of 206%. The peak was in March, with revenue of approximately $1.75 billion (including $167 million in electricity costs). (TheBlock)

7.

BTBT, where Yuhong once served as CSO, released its third-quarter financial report, announcing that it had 27,744 mining machines and mined 248.4 bitcoins in the third quarter. Currently, no mining machines are left in China. Because of migration, the bitcoins mined in the third quarter were far less than the 562 mined in the second quarter.

8.

Bitcoin mining company Stronghold Digital Mining said in a filing on Monday that it is purchasing 9,080 Bitmain and MicroBT mining machines, which will increase the estimated computing power by about 826 PH/s.

Stronghold said it also signed an equipment financing agreement with investment firm NYDIG on December 15 for up to $54 million. The deal is secured by the purchase of 12,000 S19j Pro Antminers from Bitmain, and Stronghold has received an advance payment of $18.6 million. The interest rate on the outstanding total principal is 9.85% and will be repaid within 24 months. (CoinDesk)

9.

TAAL, based in British Columbia, has purchased 100% of Chief Fuels, based in New Brunswick, Canada, in exchange for a warehouse that it plans to convert into a bitcoin mining farm with a capacity of up to 50MW. (DCD)

10.

Bitcoin mining company Bit Digital, Inc. today announced its unaudited third quarter financial results ending September 30, 2021. The main points are as follows:

- Bitcoin mining revenue was $10.4 million.

- 248.4 BTC were produced this quarter, compared to 562.9 BTC in the second quarter. The decrease was due to miner migration and mining machine redeployment.

- No mining machines are stranded in China. As of September 30, 2021, 100% of mining machines are deployed in North America, either in operation or waiting to be installed.

- Including the 851 mining machines purchased in the third quarter, there are currently a total of 27,744 mining machines.

- Non-GAAP earnings from operations were $4.8 million, or $0.09 per common share.

- Non-GAAP net income was $4 million, or $0.07 per common share.

- As of September 30, 2021, the company had cash and cash equivalents of $26.5 million and total liquidity (defined as cash and digital assets) of approximately $61.5 million. (PR Newswire)

11.

On December 24, cryptocurrency mining company Creek Road Miners announced that it had purchased 600 Bitmain Antminer S19xp (140Th) machines. Scott D. Kaufman, CEO of Creek Road Miners, said of the acquisition: "In 2022, we will expand our business by executing five cornerstone strategies. As we work towards our strategic growth plans, we value and appreciate Bitmain's continued support." (financemagnates)

12.

On December 24, chip design and manufacturing company Mux Miner announced that it is creating a "new system for cryptocurrency miners" to enable people who are not familiar with cryptocurrency mining to work more freely. Previously, Mux Miner reached cooperation with Kraken, ASG Expertise, FIS, etc. (media)

13.

On December 24, according to data from CryptoQuant, miners are still bullish on Bitcoin, and their current inventory balance has reached a six-month high. According to an article by Venturefounder, one of its analysts, miners now have more Bitcoin than when Bitcoin reached its all-time high of $69,000. He added that miners have been increasing their inventory since July this year. (U.Today)

14.

The Russian government says that Russian provinces are free to make crypto miners pay higher electricity bills. In an official decree, the government explained that it has authorized regional governors to independently determine the maximum amount of electricity that citizens can use to qualify for "preferential" residential electricity prices. Anyone who exceeds this maximum capacity limit will be forced to pay higher rates, which can be determined by the region and the power company itself. The system is not entirely new and has previously been pioneered in Crimea. In its largest city, Sevastopol, residents' energy use at lower residential rates is capped at 150 kWh per month. The Ministry of Energy assured that the measure is not a means to push for an increase in energy bills, and its purpose is simply to "combat inappropriate energy consumption." The regions have also been given the power to "set different energy bills for certain groups of people," in other words, they can increase electricity bills for people who are determined by electricity suppliers to be crypto miners. (Cryptonews)