Global Crypto Mining News ( Jan 3 to Jan 9）

Jan 10

1.

Kazakhstan's government has cut off internet access amid escalating protests, and the country's bitcoin mining operations appear to be caught up in the fray.A comparison of mining pool hashrates from half a day ago — preceding the broader internet crackdown, as reported by multiple news outlets— and now indicates a decline in rates for numerous mining pools. The most significantly impacted are 1THash (82% decline), OKExPool (46.3% decline) and KuCoinPool (22.7% decline).

The situation is notable given that Kazakhstan is home to as much as 18% of the world's bitcoin hashrate, as estimated last fall by the Cambridge Centre for Alternative Finance. Major pools including F2Pool, AntPool and ViaBTC also saw declines, of 12.8%, 11.6% and 19.2%, respectively. In addition, as of this month, more than 100 mining companies have been registered in Kazakhstan.

2.

Bitfufu, a subsidiary of Bitmain, issued a statement saying that due to the situation in Kazakhstan, the local electricity and internet have been affected to varying degrees, resulting in power outages for some of the platform's hashrate orders, and that mining time will be delayed at a 1:1 ratio for affected packages.

3.

A number of Kazakh miners told that the network in Kazakhstan was briefly restored for about four hours on 7 January, in addition to the 4G network of Chinese operators is also intermittently effective, and the industry expects that the country may return to normal next Monday. Because the current riots are mainly concentrated in the Almaty city, miners are mostly in remote areas, and for the time being, we have not heard of any miners whose mines have been hit and robbed, but are only unable to continue mining because of the network disruption.

4.

The Block reported on Wednesday, citing people familiar with the matter, that the US Congress is preparing hearings to examine the environmental impact of crypto mining, particularly on the Bitcoin network. in December, Senator Elizabeth Warren sent a letter to New York mining company Greenidge expressing concerns about the company's environmental impact. This was followed by an article in the New York Times expressing concerns about the increase in mining in the state. A participant in a pre-hearing discussion before the Subcommittee on Oversight and Investigations told The Block that these "recent events in New York State" have prompted the House Energy and Commerce Committee to warn about cryptocurrency mining.

5.

BitNile Holdings, Inc. has signed purchase agreements with Bitmain for a total of 20,600 Bitcoin miners, including 4,600 S19 XP (140 TH/s) and 16,000 S19j Pro (100 TH/s), according to an Associated Press news report. Under the agreement, an additional 2,300 mining machines are expected to be added each month starting in March 2022, and when fully deployed, BitNile expects to achieve a hashrate of approximately 2.24 EH/s.

6.

In a power outage affecting more than 80,000 customers, Cammesa, the Argentine state-owned company that provides the electricity, urged customers to report if cryptocurrency mining was taking place in their area, lapoliticaonline reported. The government's goal is to stop these companies. Sources from the Deputy Minister of Electricity expect that additional fees will be charged for this, and that these mining companies will be required to invest in the local electricity system.

7.

Riot Blockchain has entered into a non-fixed price sale and purchase agreement with Bitmain Technologies, effective December 24, 2021, to purchase 18,000 Antminer S19 Xp miners for approximately $202.86 million. marathon has also disclosed the amount and number of recent purchases, including 78, Marathon has also disclosed the amount and number of recent purchases, including 78,000 Bitmain's Antminer S-19 XP miners, valued at US$879.06 million, in six separate shipments.

8.

On Jan.4, Chinese crypto mining rig maker Canaan entered into strategic collaborations with multiple mining firms in Kazakhstan. As of Dec. 31, Canaan had 10,300 AvalonMiners in operation in Kazakhstan. The Company continues to deploy additional computing capacity in line with its mining business expansion plans.

9.

Hashrate Index：The Canadian mining news roundup for 2021 is expected to remain above 10.0% market share, the Canadian miner community is growing, and the Canadian mining market is becoming more vertically integrated through the consolidation of energy markets, ASIC miner production, mines, software and financial services.

10.

Digital asset mining company Core Scientific mined a total of 1,044 bitcoin in December, taking its total for the year to 5,769. Core Scientific operates around 67,000 ASICS mining machines, representing a hashrate of 6.6 EH/s. The company has contracts in place to receive over 100,000 mining machines in 2022.

11.

On January 6th, US-listed Fragrant State Foods (PLIN.US) announced that its subsidiary SonicHash US entered into a purchase agreement with HashCow LLC. SonicHash US purchased 686 cryptocurrency miners for a total purchase price of US$5,995,640. China Fragrance State Foods Ltd. is headquartered in Chongqing, China, and through its Chongqing Penglin Food Co. and Guang'an Yongpeng Food Co. the company specializes in food processing of pork.

12.

AMD will begin selling its latest budget GPU, the Radeon RX 6500 XT, on January 19th. Its retail price is $199. AMD Radeon VP Laura Smith said, there isn’t an 8GB version of the 6500 XT. The 6500 XT also uses a 64-bit memory interface Both of these decisions make the 6500 XT bad for Ethereum mining in particular.

13.

On January 9, superphiz, a security advisor to the ethereum beacon chain community, said the Ethereum fork Bellatrix will merge the current chain with the new PoS beacon chain. This fork will NOT enable withdrawals from the beacon chain, expect staked Ether withdraws to be enabled about six months after the merge. After the merge, traditional GPU mining will no longer take place on Ethereum, instead, the network will be secured by Proof of Stake validators who will begin receiving transaction fee rewards at the merge. In addition, superphiz expects Bellatrix to be implemented in June 2022, opening up beacon chain pledged ETH withdrawals in December.

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