40+ Crypto Mining Companies Lobby U.S. Lawmakers to Clear Up Environmental Misconceptions
Executives and lobbyists representing more than 40 cryptocurrency mining companies visited dozens of offices in the US House of Representatives, mainly members of the Energy and Commerce Committee. The aim was to lobby US lawmakers to eliminate environmental "misconceptions", steer policy narratives away from negative environmental claims, and see mining as beneficial to the economy and security.
Perianne Boring, CEO of the Chamber of Digital Commerce, said: "The core message we conveyed to congressional offices today is that bitcoin mining is helping to achieve and advance US energy security and national security."
Amanda Fabiano, former head of mining at Galaxy Digital, pointed out that the arguments that resonated with lawmakers included job creation from mining and progress in US innovation.
Bitcoin miner Marathon Digital will host some BTC through Fidelity
According to CoinDesk, Bitcoin mining company Marathon Digital (MARA) will store some of its digital assets through Fidelity Digital Asset and add a second custody partner to achieve diversification.
Marathon Digital stated in a statement on Wednesday: "Historically, Marathon has always stored all bitcoins with one provider." The company added: "As part of its broader financial management strategy, it has added a new enterprise-level custodian as its second custodian." Marathon Digital said that it may further expand and add more custodians.
As of September 30th, the company owned 13,726 bitcoins and produced over 1,000 bitcoins per month, so "we believe now is a good time to achieve bitcoin custody diversification among multiple custodians," said Marathon CFO Salman Khan in a statement.
Bitcoin Computing Power Hits Record High, Reaching 455 EH/S
Bitcoin's computing power broke the previous record on October 12, 2023. Measured by the 7-day simple moving average (SMA), it has soared to 455 exahashes per second (EH/s), which is impressive. From this perspective, on January 1, 2023, the computing power hovered around 261 EH/s. This means that in less than a year, it has leaped by 194 EH/s.
New York Times: U.S. authorities are monitoring Bitcoin miners linked to China
US government officials are closely monitoring certain cryptocurrency mining operations with ties to China due to national security concerns. One of the locations being monitored is a cryptocurrency mining operation in Wyoming, which is located near a Microsoft data center that supports some Pentagon operations, according to reports.
Samsung Is Already Using the 3nm Process to Manufacture Cryptocurrency Mining Chips
South Korean IC design company ADTechnology has announced that Samsung Foundry has received an order to manufacture server CPUs for an unnamed overseas company using 3nm process GAA transistor architecture. According to Samsung's product roadmap, there are at least three types of 3nm process (SF3E, SF3, SF3P) that use GAA transistor architecture.
Bitcoin miner Marathon Digital misses Q2 earnings estimates
Bitcoin miner Marathon Digital (MARA) reported a Q2 loss per share of $0.13 on revenues of $81.8 million, missing FactSet analyst estimates of a loss of $0.06 on revenues of $83.4 million. Despite this, Marathon shares remained steady at $15.73 in after-hours trading on Tuesday. The company has seen a 360% increase in shares this year due to the surge in bitcoin prices. Marathon's CEO, Fred Thiel, stated that the company has made progress in Q2 by increasing its hash rate and efficiency. Marathon is now the world's largest publicly traded bitcoin miner by self-mining hashrate, with 17.7 exahash per second of operational computing power on the bitcoin network in June.
Core Scientific appoints Adam Sullivan as CEO amid restructuring process
Core Scientific, a publicly traded Bitcoin miner, has appointed Adam Sullivan as its new CEO. Sullivan, who previously served as the company's president, has over a decade of experience in digital assets and infrastructure. The change in leadership comes amid Core Scientific's restructuring process, which began after the company filed for Chapter 11 bankruptcy protection in December 2022. Despite this, the company has seen a boost in liquidity due to higher Bitcoin prices and reduced energy costs, and is expected to exit proceedings by September.
ClearSpark reaches halfway to year-end target with 8 EH/s at Georgia Mining Campus
ClearSpark, a Bitcoin miner, has reached 8.0 exahashes per second (EH/s) in the second phase of operations at its mining campus in Georgia, halfway to its year-end target of 16 EH/s. The company invested nearly $55 million in the site, expanding its total power capacity to 86 MW. ClearSpark has also invested over $150 million in building its computer power infrastructure in the past months. The company plans to hold more Bitcoin in preparation for the next halving event and is considering mergers and acquisitions opportunities for the next cycle.
Iris Energy Plans to Expand Bitcoin Mining Hash Rate Capacity by 63%
June 21 (Cointime) - Iris Energy, a Bitcoin miner listed on NASDAQ under the ticker IREN, has announced plans to increase its hash rate capacity by 63% to 9.1 exahashes per second (EH/s) by early 2024.
Bitcoin Miner Core Scientific Files Chapter 11 Plan for Restructuring After Bankruptcy Proceedings
June 21 (Cointime) - Core Scientific, a bankrupt Bitcoin miner, has filed a Chapter 11 plan with the United States bankruptcy court for the Southern District of Texas Houston Division. The plan was negotiated with key stakeholders and aims to build consensus on how the company will look after emerging from bankruptcy proceedings.
