Global Crypto Mining News (Sep 12 to Sep 18)

WuBlockchain
5 min readSep 19, 2022

1.

RRMine Global, a filecoin storage company that offers global cloud-computing asset management platforms, has officially announced closure of its business operations in Mainland China and shifted its headquarter to Singapore. Previously the founder and executives of RRMine Global were under investigation by local Chinese police.

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2.

Bitmain released KA3 KDA miner parameters, hashrate 166T, power consumption 3154W, energy efficiency ratio 19J/T, claiming to use advanced air-cooled cooling technology. Previously, Jinbei had launched a number of KDA miners.

3.

According to BTC.com, Bitcoin has seen a mining difficulty adjustment at block height 753,984, with mining difficulty increasing 3.45% to 32.05T. The increase has occurred for four consecutive months and mining difficulty is at an all-time high.

4.

According to Bitcoin Magazine statistics, listed miners held 34,657 bitcoins in August, an increase of 858 compared to the previous month, ending a trend of net selling for the previous three consecutive months.

5.

BlockFills, a global digital asset trading and financial technology company, announced its partnership with Isla Verde Capital to offer the global Bitcoin mining community and the broader crypto industry with carbon emissions offsets and Renewable Energy Credits (RECs). Last week the White House Office of Science and Technology Policy released a report calling for standards for the crypto mining industry to limit its impact on the environment.

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6.

According to the official news, Sunlune LTD., an ethereum miner, announced the successful completion of its Series A financing round, which was exclusively and strategically invested by Intel Capital, with an undisclosed amount of funding and an expected scale of tens of millions of dollars.

7.

According to an announcement by Ethermine’s parent company Bitfly, the mining phase of Ethereum has ended on the 15th of September 2022. As a consequence of this transition, the Ethermine Ethereum mining pool has switched to withdraw-only mode. Users can withdraw their own mining proceeds. In addition, Bitfly has decided not to offer a dedicated mining pool for any of the planned Ethereum PoW forks. Furthermore Bitfly will offer a 0% fee promotion during the whole month of September for our Ethereum Classic, Ravencoin, Ergo & Beam mining pools.

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8.

According to a series of tweets from the ETHW account, major pools such as F2Pool, Poolin, and BTC.com will support ETHW mining, which is expected to commence following a planned hard fork. The ETHW community had also partnered with backup mining pool EthwMine,dedicated to providing long-term mining pool services for ETHW. Nanopool also announced that it would also participate later.(Decrypt)

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9.

f2pool has launched the ETHW (EtheremPoW) mining pool, the remaining hashrate in our ETH pool is redirected to our ETHW mining pool. ETHW uses the Ethash mining algorithm, it can be mined with current GPUs and the Ethash ASIC mining machines.

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10.

Crypto exchange BitCoke issued an announcement saying that all BitCoke affiliated mining power has migrated to fork chain EthereumFair (ETF) and continued its operation smoothly. In addtion, BitCoke exchange will be listed ETF at spot market after the system upgrade at 09:00 UTC on September 16, 2022. BitCoke is a big supporter of the ETHPOW fork chain.

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11.

Hashrate Index: Looking at the major listed bitcoin miners, it is expected that the remaining months of 2022 will see relatively significant hashrate growth. The six listed miners mentioned in this article are expected to use 375 MW over the next few months, contributing approximately 16 EH of hashrate. Hashrate across the network is expected to break through and soar to 270EH/s-280EH/s by the end of the year.

12.

Shares of bitcoin miner Iris Energy (IREN) sharply rose on Wednesday after research firm Compass Point upgraded its stock recommendation to buy from neutral.

Analyst Chase White said in a note to clients that IREN has potential to boost its contracted hashrate — and thus increase its bitcoin production — if the company can secure additional computing power at low cost, as it did with Bitmain in August.

White also expects that if Iris can execute its strategy, its stock can trade at a premium versus other small-cap miners. IREN was trading hands at $4.59 at press time, up nearly 8% on the day. Compass Point has a price target of $6.50/share.(CoinDesk)

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13.

Ethan Vera, COO of Luxor Mining, which runs the Ether pool, tweeted that too many Ether miners have moved to ETC to be profitable on ETC currently, even running next-generation hardware at less than 3 cents power. Overall, about 20–30% of Ether miners have migrated to other networks, and the rest are currently shut down.

14.

Web3 commerce platform HUMBL has terminated its acquisition of Agora Digital Holdings, the company behind crypto miner Bitstream Mining. HUMBL had announced on August 11, 2022 that it would acquire Agora Digital Holdings, Inc. and that the owners of the company would receive approximately $60 million worth of HUMBL preferred stock as consideration for the acquisition, but now the parties have failed to agree on certain key terms due to various closing conditions binding them and have ultimately mutually agreed to terminate the acquisition transaction agreement.(Globenewswire)

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15.

Some of those miners have turned to a proof-of-work (PoW) fork of Ethereum so they can continue mining. But even Chandler Guo, one of the fork’s strongest advocates, thinks only 10% of miners using PoW to mine ETHPOW (the token of the Ethereum Merge fork) or ETC (the token of Ethereum Classic) will ultimately survive.

This comes after the Ethernet PoW network received complaints on its first day, with users reporting problems accessing blockchain servers while attempting to set up crypto wallets failed. In response, Guo responded that it depends on the user’s network speed and expects the performance of the Ether PoW network to improve as more miners participate.(CoinDesk)

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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