Decentralized computing power market Lumerin officially launches Arbitrum
The decentralized computing power market Lumerin has officially launched on Arbitrum, and anyone can purchase/sell/trade Bitcoin computing power through smart contracts. Currently, Lumerin market sellers must be added to the whitelist in order to list contracts.
Bitmain Will Invest $53.9 Million in Core Scientific
Bitcoin mining company Core Scientific announced that Bitmain has agreed to invest $53.9 million in the company to expand the long-term cooperation between the two companies. According to the terms of the acquisition agreement, Bitmain will supply Core Scientific with 27,000 S19J XP 151 TH Bitcoin mining machines in exchange for $23.1 million in cash and $53.9 million in Core Scientific common stock, the value of which will be determined based on the Chapter 11 restructuring plan approved by the bankruptcy court. It is expected that the plan will be approved in the fourth quarter of this year. In addition, Bitmain has signed a new hosting agreement with Core Scientific to support its mining business.
Bitcoin's Sustainable Energy Mix Could Drive Institutional Investment, Says Bloomberg Analyst
According to Bloomberg analyst Jamie Coutts, the Bitcoin mining industry has managed to keep its carbon footprint low despite the network's expansion, which is a rare achievement. This could attract institutional investment as the sustainable energy mix for Bitcoin has continued to rise and is now over 50%. The incentive to acquire the cheapest energy sources is contributing to the network's rising hash rate while simultaneously reducing the industry's emissions or carbon intensity.
GreenBlocks CEO: Before the Emergence of Crypto Mining in Iceland, the Vast Majority of Non-Guaranteed Electricity Was Not a Marketable Product
Daniel Jonsson, CEO of GreenBlocks, a data center service provider in Iceland, stated that before the emergence of the cryptocurrency mining industry in Iceland, the vast majority of non-guaranteed electricity was not a saleable product, so essentially we are buying electricity that others cannot buy."
Canaan Zhizhi Q2 Financial Report: An Increase of 33.7% From the Previous Quarter
Bitcoin mining machine manufacturer Canaan released its quarterly financial performance as of June 30. The company's financial statements showed total revenue of $73 million, an increase of 33.7% from the previous quarter. Canaan announced that its mining revenue has grown. As of the end of the quarter, mining revenue has increased to $15.9 million, a 43.4% increase from the first quarter of 2023's $11.1 million and a 105.1% increase from the same period in 2022.
Bitcoin Miners Struggle as Hash Rate Reaches New Highs and Revenue Slumps to 2022 Levels
Bitcoin mining revenue has dropped to levels not seen since November 2022, despite the hash rate reaching new highs. The Bitcoin network hash rate has surged 54% from the beginning of 2023 and 80% over the past year, according to Blockchain.com. However, the revenue has fallen sharply to $0.060 per terahash per second per day, around half of what it was in early May. Bitcoin miners have reportedly been relying on funds from stock sales in the second quarter to keep them afloat during the bear market.
Texas Offers New Tax Incentives to Attract Bitcoin Miners
Texas, USA will open a new incentive measure next month aimed at reducing greenhouse gas emissions from burning and emitting gases, providing tax exemptions for energy producers using dispersed emissions to power Bitcoin mining equipment.
Bitdeer Technologies Completes Construction of Bitcoin Mining Facility in Bhutan with 11,000 Miners Running Stably
Bitdeer Technologies, a bitcoin mining firm founded by Jihan Wu, has completed the construction of a mining facility in Bhutan and is currently conducting power-on testing. The Gedu data center in Bhutan has received around 15,000 additional mining machines, with approximately 11,000 already running stably.
Genesis Digital Assets Opens Three New Bitcoin Mining Data Centers in South Carolina
Genesis Digital Assets (GDA) is expanding its U.S. operations, announcing the opening of three new bitcoin mining data centers in South Carolina. One of GDA's new data centers is located near Anderson, and the other two are located between Uniontown and Lockhart. The three sites started operations this year and have a combined capacity of 33 megawatts (MW). Last year, GDA opened a 40 megawatt (MW) mining data center in Texas. GDA is one of the largest bitcoin miners in the world, mining mines in Europe, Asia and North America, and is said to account for about 2% of the total hashrate of the bitcoin network.
Bitcoin Mining Company Bitfarms Produced 378 BTC in July and Sold 333 BTC
Bitcoin mining company Bitfarms produced 378 BTC in July, a decrease of about 2.1% month-on-month and a year-on-year decrease of 24.4%. As of the end of July, the total computing power of Bitfarms was 5.3EH/s, unchanged from the previous month. Additionally, Bitfarms sold 333 BTC this month for a total of $9.9 million.
