TSE Sponsored :Global Crypto Mining News (May 16 to May 22)
1. BitFarms announces that it mined 961 Bitcoin in Q1 2022 at an average cost of $8,700/Bitcoin and revenues improved to $40 million in Q1 2022, up 42% from $28 million in Q1 2021. Bitfarms presented a 33.3% decrease in total revenue compared to last quarter, totaling $40 million. Gross mining margins dropped to 76%, compared to 84% in Q4 2021. It is also scaling back its growth plans for 2022 due to logistics and supply chain issues related to higher gas prices. It currently operates 3.4 EH/s, representing about 1.5% market share. 2. On May 14 Iran froze 9,219 bank accounts of 545 people over suspicious foreign currency and crypto transactions, blocking transactions worth more than 60 trillion Iranian toman, or about $2 billion. This comes after Iran has shut down 6,914 illegal cryptocurrency mining centers in a crackdown. 3. Argo Blockchain announces 1st quarter results 2022:produced net income of $2.1 million;mined 470 bitcoin a in Q1 2022 (+21% Y/Y),”HODL” of 2,700 Bitcoin and Bitcoin Equivalents as of 31 March 2022;the Company’s mining margin for the first quarter was 76%, with an average direct cost per BTC mined of $9,779. 4. Hashrate Index:bitcoin mining prices have fallen to 2021 lows. Mid-gen rigs (38–68 J/TH) averaged a value of $43.61/TH; the low for this tier last year in July was $43.20/TH. Old-gen equipment (over 68 J/TH) fell below its own 2021 low ($21/TH) in mid-April, 2022. The new-gen ASIC bucket (under 38 J/TH) is the only efficiency tier that hasn’t brushed or broken below its China ban low. 5. Bitcoin miner Argo Blockchain said,“Argo was able to sell its UST positions at 93 cents per token before the price fully collapsed. Despite holding a small percentage of UST positions, it is still essentially break-even”. In Argo Blockchain’s first quarter results announced yesterday, net income fell more than 90% year-over-year.(CoinDesk) 6. An explosion last week at the substation of a bitcoin mining facility in Niagara Falls, New York led to a fire and caused 2,515 of their Bitcoin miners and approximately 710 Ethereum miners that had been operating at the site, on May 10. The facilityis owned by Blockfusion, which offers colocation services to miners. The Company intend to pursue claims including seeking reimbursement for lost revenue. (The block) 7. The OLB Group, a diversified Fintech eCommerce merchant services provider and cryptocurrency mining enterprise, announced record revenue in the First Quarter, of 2022. First quarter revenue tripled year-over-year from $2,226,404 to $8,786,460 due to acquisitions and organic growth. The other highlights for the period include the following: - Adjusted EBITDA $505,583 vs. Negative EBITDA (-$689,685) in First Quarter 2021; - Total Corporate Assets $45,000,000 at March 31, 2022; - Cash Balance at March 31, 2022 approximately $4,000,000; - Zero Debt other than an equipment lease to finance the purchase of100 Miners for approximately $750,000.(Business Wire) 8. Celsius Network announce that its wholly-owned Bitcoin mining subsidiary, Celsius Mining LLC, has recently submitted confidentially a draft registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”). The registration statement is expected to become effective after the SEC completes its review process, subject to market and other conditions. This follows news on November 22, 2021 that Celsius Network has invested another $300 million in its North American bitcoin mining operations, bringing the total investment to $500 million.(PR Newswire) 9. As crypto markets sink, resulting in most bitcoin miners’ stocks went down during Monday’s trading session. Iris Energy, in particular, fell by 36.45% on Nasdaq. Riot, Marathon and Core Scientific also saw their stocks drop by between 9% and 10%.Bitfarms’ stock went down by 5.41% on the Toronto Stock exchange and 7.88% on Nasdaq. As of today, there are only two remaining “unicorn” mining companies with market capitalizations over $1 billion: Marathon Digital Holdings ($1.097 billion) and Core Scientific ($1.218 billion).(TheBlock) 10. Stronghold Digital (SDIG) reported first-quarter revenue of $28.7 million, ahead of the consensus analyst estimate of $26.2 million, according to FactSet. But its adjusted net loss of 66 cents per share exceeded the consensus estimate for an adjusted net loss of 8 cents per share. On May 15, Stronghold Digital said it raised $27 million in cash proceeds through the issuance of principal notes. In total, Stronghold said it had $47 million of cash and equivalents plus unrestricted bitcoin holdings, and more than $60 million of liquidity.(Coindesk) 11. New York’s bitcoin mining companies are increasingly considering abandoning their aspirations in what was once a promised land as the state’s legislature considers a bill to ban new mining projects that use carbon-based energy sources pending a review of the industry’s environmental impact. The New York state Senate is looking at a bill calling for a two-year moratorium on new crypto mining projects that use gas, coal or other nonrenewable energy sources, after the Assembly version of the bill passed the state’s lower house last month. “All cryptocurrency companies have a permanent hold on starting businesses in New York due to the political and regulatory ambiguity. If the bill were to pass, New York would become a permanent afterthought for the industry,” said Kyle Schneps, director of public policy at Foundry. Foundry’s planned expansions in the state “will be curtailed along with hiring,” Schneps said. Most crypto mining companies are staying away from the state because of authorities’ seemingly negative stance toward the industry, said Whit Gibbs, CEO of Compass Mining. Regulatory uncertainty, including the bill, is one reason why mining firms are less likely to move to New York, one executive from a local mining hosting firm said. Increases in energy prices are another reason.(CoinDesk) 12. Compass Mining announced the launch of their new white-glove services for large-scale and enterprise clients, allowing funds and family offices to mine bitcoin with minimal operational lift. Now, with the help of a team of mining advisors, Compass Mining is able to offer hassle-free bitcoin mining to enterprise clients. Clients simply consult with Compass Mining Enterprise Client Executives to align their goals, and Compass takes care of the rest by securing, hosting, and optimizing their mining portfolio at verified facilities, offering competitive operating costs.(PR Newswire) 13. Glassnode data shows that ETH miner revenue just reached a 10-month low of $1,089,918.81. Previous 10-month low of $1,093,230.25 was observed on 21 July 2021. 14. Beijing, May 19, Canaan reports unaudited first quarter 2022 financial results. The results shows,Canaan revenue in the quarter was RMB 1.36 billion, up 236.7% year-over-year. Total computing power sold was 4.3 million TH/s, representing an increase of 119.1% from 2.0 million TH/s in the same period of 2021. Net income attributable to ordinary shareholders in the first quarter of 2022 was RMB441.6 million, compared to a net income of RMB1.2 million in the same period of 2021.As of March 31, 2022, Canaan’s advance receipts were RMB 1,769.9 million, an increase from RMB 1,340.7 million as of December 31, 2021. Outlook for the next quarter,For the second quarter of 2022, the Company expects total net revenues to be in the range of RMB1,600 million to RMB1,800 million, representing an increase of 48% to 67% from the second quarter of 2021. As of March 31, 2022, Canaan held a total of 166.96 Bitcoins on its balance sheet. TSE (www.tsedata.com), the North American mining service provider that understands Chinese miners best. With years of experience in the North American natural gas industry, TSE is able to produce its own natural gas and build 100% natural gas-isolated mines with cost advantages; it also ensures business diversification by using 100% clean hydroelectric energy in Canada and mixed grid power resources in Texas, Ohio and North Dakota to build world-class mines with a three-shift operation and maintenance team that promises a one-hour response time to ensure miners’ equipment stability. As a localized mining company in North America, TSE can assist miners with local incorporation, tax planning and legal advice to help them enter the North American mining market safely and worry-free. Contact us Telegram Colinwu1989/wuhongliang1@gmail.com Follow us Twitter: https://twitter.com/WuBlockchain Telegram: https://t.me/wublockchainenglish If you liked this post from Wu Blockchain, why not share it? |
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WuBlockchain Weekly:Terra2.0 Summary, FASB, Tether new report and Top10 News
Saturday, May 21, 2022
1、Create a new Terra chain & Regulatory pressure link Do Kwon proposed to create a new Terra chain without the algorithmic stablecoin and distribute the new coins among eco-stakeholders. In
吴说每周精选:新闻Top10与热门文章 Terra2.0专题(0517-0521)
Saturday, May 21, 2022
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Monday, May 16, 2022
1. BTC.com shows that current bitcoin mining difficulty is at a record high of 31.25 T, an upward revision of 4.89%. But as bitcoin falls to $30000, more miners will be nearing shutdown coin prices. 2.
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