Global Crypto Mining News (Jan 16 to Jan 22)

WuBlockchain
4 min readJan 23, 2023

1.

A solo bitcoin miner with only 10TH just won a block reward worth 6.25 $BTC (over $130,000). 10TH is only 1/10th of the hashrate of a mainstream bitcoin miner today.(Bitcoin Magazine)

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2.

CryptoQuant senior analyst Julio Moreno tweeted that a major bitcoin miner has transferred 5,592 BTC (about $126 million) to Coinan. On January 17, the 1THash pool address transferred 2,256 of the 2,396 BTC to an address starting with 1BRuc4 and then to two addresses starting with 1H96nj and 1DD1vn, which in turn transferred BTC to CoinSec. On January 19, 1THash transferred another 3,336 BTC directly to Cryptocurrency.

3.

CleanSpark acquired a Georgia program in August and is currently undergoing expansion. The company said that will see capacity rise to 86 megawatts from 36. The expansion will add between 1.6–2.2 EH/s to CleanSpark’s hashrate, which is currently at around 6.2 EH/s(The Block)

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4.

Bitcoin miner GRIID’s planned merger listing with SPAC firm Adit EdTech has been postponed again from Jan. 14 to Feb. 14, and the delay is the third postponement of GRIID’s planned listing through SPAC, having been postponed from May 2022 to the present.

5.

Bit Brother Limited through its subsidiary Bit Brother New York Inc, purchased 1,400 S19J Pro cryptocurrency mining servers from Grand Flourish Inc. for an aggregate purchase price of US$2,329,600. Each server has a hashrate of approximate 100 TH/S. As of today all 1,400 servers have been delivered. By using the data from Ultimuspool, a mining pool solution, and the settlement method of Full Pay Per Share (FPPS), approximately 14.15 BTC per month.

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6.

Compass Mining is being sued by its customers to the tune of $2 million. The customers accused Compass of fraud, breach of contract, and negligence after the company ended its partnership with BitRiver.

BitRiver hosted Compass’ mining machines at its facilities in Siberia. The lawsuit alleges that the mining host did not attempt to retrieve and return them after the U.S. Treasury’s Office of Foreign Asset imposed sanctions on BitRiver. The filing claims that the mining equipment and services rendered in question total more than $1.75 million.

U.S. District Judge Raal Singhal denied the motion on Wednesday, saying the plaintiffs’ complaint has “several defects that prevent the court from moving forward.” He cited several necessary remedies and set a Feb. 3 deadline for filing a second amended complaint. “Failure to comply with this order will result in dismissal of the case without further notice.”(Decrypt)

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7.

According to the Washington Examiner, a screenshot shows that the SEC had been privately investigating Green, a blockchain-based organization that claims to create a “decentralized power grid,” for several years. Parts of that investigation included reaching out to consumers about their purchase of products from Green and asking about their experience. While Green’s members had cooperated with the SEC to answer all relevant queries, the agency leaked the names and emails of more than 650 people on Jan. 6 when it failed to bcc all 650 users in an email, according to screenshots viewed by the Washington Examiner.

The leak has had a detrimental effect on the community of crypto enthusiasts, according to those involved in the email. They claim the information is more than enough for them to be identified and hack the “nodes,” or computers, they use to produce Green crypto tokens via “mining” — that is, the use of high-powered computers to verify virtual coin transactions. No hacks have been reported as of Tuesday.

The accidental release of personal information by a federal agency violates privacy laws. The act prohibits the sharing of information gathered by a federal agency without proper consent, making this email a privacy breach. In response, the SEC said: “Protecting the privacy of all parties is critically important, and the SEC is looking into this matter.”

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This post is sponsored by TSE.

Top Speed Energy (www.tsedata.com) is committed to spearheading the definition of cryptocurrency mining services in North America.

With years of experience in the local natural gas landscape (original website: www.topspeedenergy.com), on top of run-of-the-mill Grid-powered Bitcoin mining facilities, TSE also extends to set up 100% natural gas-powered facilities as well as 100% hydroelectric ones across a plethora of states and provinces in USA and Canada, including but not limited to Texas, Ohio, North Dakota, British Columbia, and Alberta.

TSE features a double-shift operation and maintenance team, delivering one-hour response promise to ensure the streamline operations of clients’s miners all year around.

Being a local player in North America, TSE poses itself as a trustworthy partner to international clientele — it can assist foreign clients with local incorporation registry, tax planning among with legal advice to help them enter the North American mining market safely and worry-free, in a compliant way.

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WuBlockchain

Colin Wu, Chinese journalist, won 2013 China News Award