Title sponsored by Bitdeer, a NASDAQ-listed mining company.

1.

Bitdeer has released the parameters of the SEALMINER A2 series of bitcoin miners. The SEALMINER A2 has a hashrate of 226 TH/s and an energy efficiency of 16.5 J/TH. The SEALMINER A2Hyd has a hashrate of 446 TH/s and an energy efficiency of 16.5 J/TH, built on 2U standard servers for easy deployment and seamless compatibility with Whatminers’ water-cooled infrastructure.

2.

Bitcoin mining firm Terawulf has sold its 25% stake in the nuclear-powered Nautilus bitcoin mine in Pennsylvania to its joint venture partner, Talen Energy, for $92 million. Terawulf announced that it completed the transaction “ahead of the expiration of the $0.02/kWh power contract and ground lease in June 2027.” The firm plans to reinvest the proceeds into building a 20-megawatt facility, named CB-1, at its flagship Lake Mariner site in New York, which will be dedicated to hosting high-performance computing (HPC) and AI data centers. Terawulf stated that with the transaction proceeds, the construction of CB-1 remains “on track to be operational by Q1 2025”.

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3.

Multichain layer-2 network Anduro, incubated by mining firm Marathon Digital Holdings, has developed a platform for issuing and investing in real-world assets (RWAs) on Bitcoin. The platform Avant, developed alongside tokenization specialist Vertalo, is planning a pilot project to tokenize whiskey barrels.（CoinDesk）

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4.

More than two dozen residents of Granbury, Texas, filed a lawsuit against crypto miner Marathon Digital, claiming its mining site near the town is “intolerably loud.” The lawsuit claimed that some locals had experienced fatigue, headaches, memory issues, hearing loss, migraines and tinnitus. The group also alleged that pre-existing health conditions, such as high blood pressure, have worsened for some residents. The residents are asking the court for a permanent injunction against Marathon’s facility to prevent it from “creating, causing, or allowing any unreasonable noise.” They’re also asking for any compensation that “may be justly entitled” and court costs.

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5.

Ethan Vera, co-founder and COO of Luxor, revealed that bitcoin mining in Ethiopia has already consumed 600 MW of electricity and expects hundreds of MW of miners to come online within the year. Vera said that miners are mainly using the Antminer S19J Pro and Avalon A1346 models, which are ideal for use in Ethiopia due to the low cost of electricity there. Due to the low cost of electricity in the country, Ethiopia has become an ideal location for such miners. This mining capacity is estimated to represent about 2.5% of bitcoin’s total network hashrate.

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6.

BITMAIN launched the ANTMINER S21+ series, with the S21+ Hyd. model offering a hashrate of 319 TH/s and an energy efficiency of 15.0 J/T, while the S21+ model provides a hashrate of 216 TH/s and an energy efficiency of 16.5 J/T. BITMAIN also showcased its cutting-edge products, including the air-cooling miner ANTMINER S21 XP, the oil-cooling miner ANTMINER S21 XP Imm., and the hydro-cooling container ANTRACK.

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7.

Compass Mining has announced a partnership with Mindshift, a licensed digital asset service provider in South Korea, to extend bitcoin mining services to the region. The collaboration aims to address challenges like high electricity costs while making bitcoin mining more accessible to South Korean residents. Mindshift disclosed plans to introduce a new product that allows South Korean customers to purchase BTC mining machines, which will be shipped to and maintained at Compass’s data centers.

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8.

IREN, formerly Iris Energy, was sued by investors claiming the crypto mining firm misled them about its high-performance computing (HPC) business. A class-action suit led by Paul Williams-Israel filed in a New York federal court on Oct. 7 claimed IREN’s Childress, Texas, facility was framed as an HPC-ready data center when it wasn’t, and its computing capacity was significantly overstated. The suit claimed the misleading information came from a June 2023 IREN statement announcing an expansion of its Childress site and a “revitalization” of its HPC strategy.

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9.

The city of Thorndale has passed a resolution in support of local residents, expressing opposition to a proposed 15-megawatt bitcoin mining facility in the area. Bitcoin mining firm Data Factory Austin has shown interest in land outside Thorndale in Milam County for this project. However, local residents have voiced their concerns and signed a petition to stop the development. “Millions of people who have neither mined nor traded a bitcoin are paying for bitcoins to exist by way of higher energy bills. Data Factory plans to build a 15MW site, which is equivalent to the daily electricity consumption of approximately 10,500 homes. On top of all this, bitcoin has no intrinsic value,” the petition writes.

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10.

Bit Digital (BTBT) is doubling down on its high-performance computing (HPC) business with the acquisition of a Tier 3 data center for $46 million. The acquisition was financed primarily through cash reserves, along with approximately 1.62 million newly issued BTBT shares.

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11.

Digital asset prime brokerage FalconX has launched an auto-liquidation service designed to enhance capital efficiency for crypto mining firms. Its offering automates the conversion of crypto mining rewards, including Bitcoin, Litecoin, and other proof-of-work tokens, into U.S. dollars.FalconX said the service would streamline miners’ operations by enabling faster reinvestment into their businesses, removing the need for manual trading or reliance on third-party providers.（Decrypt）

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12.

Blockstream has closed a $210 million convertible note financing round led by Fulgur Ventures Blockstream and its co-founder and CEO Adam Back said that the fresh capital will be used to accelerate the adoption and development of Blockstream’s Bitcoin Layer 2 technologies, expand its mining operations in preparation for the next bitcoin market cycle,” and boost its bitcoin treasury. Blockstream’s Layer 2 solutions include the Liquid Network and Core Lightning. The firm claims over $1.8 billion in assets, including stablecoins, tokenized bonds and securities, have been issued on Liquid to date, with over 3,844 BTC (around $250 million) locked onchain. Another is STOKR’s issuance of the MicroStrategy Note, CMSTR, fully backed by MicroStrategy shares, which can be traded peer-to-peer against bitcoin on the Liquid DEX SideSwap.（The Block）

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13.

MARA announced it had secured a $200 million line of credit from an undisclosed counterparty, using a portion of its bitcoin holdings as collateral. The company stated it would utilize the funds to capitalize on strategic opportunities and for other general corporate purposes. While MARA did not provide specific details about the credit line’s terms, recent agreements by industry competitors have featured a loan-to-value ratio of around 70%, with a weighted average interest rate of 4.2%. Assuming a 70% loan-to-value ratio, MARA would need to pledge approximately 4,000 BTC as collateral for the $200 million credit facility. This line of credit follows MARA’s issuance of $300 million in convertible notes two months ago, which carried an interest rate of 2.125%. The company subsequently used $250 million from the proceeds to acquire 4,144 BTC. As of September 30, MARA held a total bitcoin reserve of 26,842 BTC.

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SEALMINER, a pioneering brand of Bitcoin mining machines under Bitdeer Technologies Group (NASDAQ: BTDR), specializes in offering efficient and sustainable mining solutions. SEALMINER integrates Bitdeer's self-developed SEAL series of mining chips manufactured using advanced process nodes. By continuously improving power efficiency ratios, SEALMINER is dedicated to providing innovative, efficient, and reliable products and services to customers worldwide.

14.

Bitcoin mining colocation provider Revolve Labs is planning to build AI data centers in central Minnesota after withdrawing a mining expansion proposal due to community opposition. Revolve Labs held meetings with the Glencoe Economic Development Authority in September, planning to expand its facilities in the city to accommodate one or two AI data centers, along with cooling systems and backup generators. The project is projected to have a 10-megawatt capacity and employ about 10 people, with an estimated cost of $40 million to $60 million. AS part of Revolve Labs’ proposal, the company intends to purchase two parcels of land totaling 6.2 acres and construct a power substation for the expansion. Revolve Labs currently operates a Bitcoin mining facility in Glencoe with a capacity of approximately 20 MW, powering 537 PH/s. The company had previously sought to increase its mining capacity in Windom, Minnesota but withdrew the application after community resistance due to noise concerns.

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15.

The Russian state and the nation’s biggest crypto miner BitRiver say they will work together to build data centers in BRICS countries. The deal involves the Russian Direct Investment Fund (RDIF), the country’s sovereign wealth fund. The parties made their announcement at the BRICS Business Forum, held in Moscow on October 18. “Together with the Russian Direct Investment Fund, we will focus on creating an infrastructure base founded on crypto mining. We will build data centers and connect them to the appropriate capacities. That will let us deploy and implement AI projects, “ the BitRiver CEO Igor Runets said. The crypto miner BitRiver operates 21 data centers in Russia. It is currently building 10 new centers.

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16.

Germany-headquartered Northern Data is considering divesting its Bitcoin mining subsidiary to transition toward a pure-play AI strategy. Northern Data announced it had initiated “negotiations with interested parties regarding a possible divestment of its crypto mining business, Peak Mining.” In a subsequent announcement, the company indicated that potential proceeds from the sale would be invested in acquiring further data centers, purchasing GPUs, and developing its AI product platform.

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17.

BitFuFu announced it has entered into a definitive agreement to acquire a majority stake in an 80 MW Bitcoin mining facility in Ethiopia, where power costs average below US$0.04 per kWh. Upon completion of this transaction, BitFuFu’s hosting capacity will surpass the 600MW mark. The majority of BitFuFu’s mining infrastructure currently based in the United States.

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18.

Hut 8 announced the conversion of the entire $38 million outstanding balance of its subsidiary’s outstanding loan with Anchorage Lending CA, into common stock of the Company. At $16.395 per share, the conversion price represents a 51% premium to the 20-day weighted average price prior to September 26th. Asher Genoot, CEO of Hut 8, said that with this loan conversion, Hut 8’s balance sheet is strengthened, debt is reduced, and the company will be better positioned to move forward with discussions with potential partners and execute on its development plans for the next generation of mining and AI data centers.

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19.

Bitcoin miner Terawulf has announced plans to conduct a share buyback of up to $200 million through the issuance of $350 million in convertible notes, which are expected to close by December 2025.The company has also offered initial purchasers the option to add an additional $75 million to the notes within 13 days of their issuance. The company is also offering initial purchasers the option to add an additional $75 million within 13 days of the issuance.The notes will mature in 2030, Terawulf said.

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20.

Tether is in discussions with the Turkish government about the possibility of issuing boron mining tokens through blockchain technology, and has proposed establishing a digital asset exchange in Istanbul. Tether believes that tokenizing boron mining could help modernize market operations. Turkey is the world’s largest supplier of boron, with sales expected to reach $ 1.3 billion in 2024. Currently, the proposal is still in the early stages, and officials from Turkey’s Ministry of Energy have stated that it cannot be implemented immediately.

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21.

Bitdeer has launched a second round of used mining machine auctions on its official website. This round of auctions is for the god WhatsMiner M30S++ in its Gedu mine in Bhutan, a total of 1,000 units, which will be divided into two batches of auctions, each batch of 500 units, with a starting price of $1.8/T. The two batches of miners were eventually sold for $3.09/T and $2.15/T. The auction was held on the Bitdeer’s website.

22.

Prosper announced that MetalphaPro has made an investment in its native token $PROS to support the project’s new strategic focus to bridge institutional-grade Bitcoin mining power on-chain and to provide full exposure to the broader Bitcoin ecosystem. Prosper has recently announced a pivot in its strategic direction to focus on Bitcoin mining and the related Bitcoin ecosystem. Post completion of the pivot, Prosper’s token foundation will hold a number of Bitcoin miners and the token foundation’s members will directly contribute to the underlying mining power’s operations and productions for Bitcoin. Additionally, Prosper intends to leverage Metalpha’s industry-leading expertise in derivative products for digital assets, and customize BTC hedging products for Prosper’s mining operation to help manage market risk and improve visibility on liquidity from the underlying miners.

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23.

Russia is set to restrict crypto mining in several of its regions due to ongoing energy shortages, announced Deputy Minister of Energy Yevgeny Grabchak. Grabchak noted that specific regions, including the Far East, southwestern Siberia, and the South, are experiencing limited energy availability. The power shortages may persist until 2030. On Oct. 28, a Russian law enforcement agency detained a resident of the Novosibirsk region who was accused of electricity fraud connected to his crypto-mining operations. The suspect allegedly earned over 1 $123,000 through mining.

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24.

Riot Platforms cut its hashrate outlook and reported a $154 million net loss in its Q3 earnings. For the quarter ending Sept. 30, the company reported total revenue of $84.8 million, with $67.5 million from Bitcoin mining. The Bitcoin mining gross profit, excluding depreciation, was $28.4 million, marking a 42% margin, a significant drop from the 181% margin in the same quarter last year. Riot Platforms produced 1,104 Bitcoin during the quarter, which is in line with the 1,106 BTC mined during the year-ago quarter.（The Block）

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25.

The Coinshares Q3 mining report, with research led by James Butterfill, reveals that bitcoin mining costs are rising, reaching an estimated $49,500 per bitcoin (BTC) when accounting for cash expenses alone. Including additional costs like depreciation and stock-based compensation, the production cost averages $96,100. This heightened cost environment stems from an increased mining difficulty and infrastructure expansion, which have collectively driven up expenditure.

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26.

The Zhejiang Jingde Court recently concluded a dispute over the sale and purchase contract of a virtual currency mining machine.2021 In April, Plaintiff Hang Mou purchased a “mining machine” platform and 64 hard disks from Defendant Chen Mou, with a total value of 429,000 RMB. After paying the full amount, Chen failed to deliver the equipment as agreed and only returned 180,000 RMB. The court held that virtual currency-related business activities were illegal financial activities. The court ordered the defendant to return the remaining 249,000 yuan.

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