Weekly Mining Information: Mining pools are unable to log in in a large area (1122-1128)
Wu said the author|Colin Wu
Editor of this issue | Colin Wu
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Wu said the author|Colin Wu
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Editor of this issue | Colin Wu
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According to OKLink data, DCG's Bitcoin mining pool Foundry USA once dug out 25 blocks within 24 hours, ranking first. Recently, mining pools in China collectively suffered large-scale DNS and domain name failures. This move may lead to a sell-off of graphics card mining machines and the like.
According to the "Financial Times", within a few months of the implementation of China's mining ban, the world's 14 largest crypto mining companies have moved more than 2 million machines out of China, most of which were hastily transferred to the United States, Canada , Kazakhstan and Russia.
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According to the latest shareholding ratio of Canaan institutions, as of September 30, Vanguard, one of the world's largest public funds, newly purchased 4,213,270 shares of Canaan, accounting for 2.46% of the shares. Vanguard used to be a major shareholder of Microsoft, Apple, Tesla, etc. Previously, Fidelity Investments also held some shares of Canaan.
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Canaan released its financial report for the third quarter. The financial report shows that it recorded a total revenue of 1.32 billion yuan in this quarter, setting the best revenue record in a single quarter in history. The company expects that revenue in the fourth quarter of 2021 will increase by 35% compared with the third quarter -50%. Gross profit was 740 million yuan, an increase of 73.3% from 420 million yuan in the second quarter of 2021. Research and development expenses in the quarter were 92.76 million yuan (US$14.4 million), an increase of 188.8% from 32.12 million yuan in the same period in 2020. As of September 30, 2021, the company's cash and cash equivalents were RMB 1,698.5 million (US$263.6 million), an increase of 334.0% from RMB 391.3 million as of December 31, 2020.
On November 18, the Yunnan Provincial Blockchain Center held a symposium on rectifying virtual currency "mining". Xu Meijuan, deputy director of the Management Committee of Wuhua Science and Technology Industrial Park, requested at the meeting to take rectification of virtual currency "mining" activities as an important task for high-quality social and economic development, resolutely put an end to the spread of virtual currency "mining", and effectively consolidate the clean-up process. Stop the virtual currency "mining results".
On the morning of November 19, the Fujian Provincial Development and Reform Commission held a special topic on virtual currency "mining" rectification and a video conference of the provincial rectification work coordination group to report the progress of the province's virtual currency "mining" rectification work and deploy the next stage of work .
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The meeting emphasized that all localities and departments must have a deep understanding of the significance of virtual currency "mining" rectification work, clarify responsibilities, multi-pronged, classified rectification, and resolutely and effectively achieve the goal of virtual currency "mining" and "zeroing". The heads of the Provincial Department of Education, the Provincial State-owned Assets Supervision and Administration Commission, the Fuzhou Sub-branch of the People's Bank of China, and the Provincial Communications Management Bureau put forward work requirements for the next stage in combination with their respective areas of responsibility.
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Provincial Department of Education, Department of Ecology and Environment, Department of Commerce, and State-owned Assets Supervision and Administration Commission of the Provincial Department of Education, Department of Ecology and Environment, and State-owned Assets Supervision and Administration Commission, members of the provincial virtual currency "mining" rectification work coordination group, attended the meeting at the main venue of the Provincial Development and Reform Commission. The deputy director in charge of the Office of the Management Committee of the Comprehensive Experimental Zone of Tanzania, and the heads of relevant departments of the districts and cities participated in the video meeting at the branch venues of the Development and Reform Commissions in various places.
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According to TheBlock, Celsius said it has increased its investment in Bitcoin mining by another $300 million, and currently has around 22,000 S19 series mining machines. In addition, it issued loans to mining companies (with Bitcoin as collateral) to satisfy the desire of mining companies not to sell Bitcoin.
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According to CoinDesk, Canaan announced that it has delivered 2,000 Avalon mining machines to Kazakhstan. The company currently operates a computing power of 32,000T and plans to reach 850,000T in the short term. The future target is a mining computing power of 1.8E.
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Xive shut down 2,500 mining machines in South Kazakhstan due to lack of sufficient power supply. Kazakhstan has been struggling with electricity shortages, partly due to an influx of crypto miners from China. The southern part of the country is particularly vulnerable because the region lacks abundant power plants and the national grid cannot reliably feed electricity from the energy-rich north. (CoinDesk)
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Kazakhstan's President Proposes Building a Nuclear Power Plant to Keep Up with Bitcoin Mining Migration Kazakhstan's only nuclear power plant closed in 1999. The local population was uneasy about the nuclear power plant after 1.5 million of its citizens were affected by 110 Soviet nuclear tests between 1949 and 1963. (protos)
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Dyusenbay Turganov, a member of the lower house of Kazakhstan’s parliament, said the government needs to expand the regulatory framework for cryptocurrency miners, local media Inbusiness.kz reported. The cryptocurrency mining industry must adopt new regulatory requirements and standards to streamline its operations while developing a comprehensive digital asset ecosystem. The lawmaker noted that cryptocurrency mining has been a legitimate industrial activity since the passage of legislative amendments in 2020. He also reiterated that from January 2022, miners operating under the law will be required to pay a new type of tax. (Bitcoin.com)
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According to CoinDesk, Canaan announced that it has delivered 2,000 Avalon mining machines to Kazakhstan. The company currently operates a computing power of 32,000T and plans to reach 850,000T in the short term. The future target is a mining computing power of 1.8E.
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In the months since China’s mining ban was implemented, 14 of the world’s largest crypto mining firms have moved more than 2 million machines out of China, with most of them being hastily moved to the United States, Canada, Kazakhstan and Russia. (Financial Times)
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According to the Liaoning Anshan Public Security Public Account, in early November, the Dagushan Police Station of the Tiedong Public Security Bureau discovered that someone had installed a large number of mining machines to steal electricity. In the early morning of November 4, the Tiedong Public Security Bureau organized more than 20 police officers and divided them into 3 arrest teams. At the same time, arrest operations were launched at the identified "mining" equipment placement point and the suspect's residence. 3 people involved in the case were arrested on the spot, 161 sets of "mining" equipment were seized, and electricity theft facilities were seized on the spot, with a cumulative value of more than 1.2 million yuan.
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On November 25th, Bitcoin mining infrastructure company Fortress Technologies announced its 2021 Q3 financial report. During that period, the company made a net profit of $3.5 million. Fortress Technologies has a balance of 129 bitcoins on its balance sheet. Additionally, the company held $5.7 million in cash in the third quarter of 2021. Fortress’ active hashrate has risen significantly in the last quarter. According to the company's estimates, its active hash rate will mine more than 13 bitcoins per month. Additionally, Fortress announced new leadership appointments during the most recent quarter. Antonin "AJ" Scalia and Thomas "Drew" Armstrong serve as Fortress' CEO and President/COO, respectively. The pair also replaced Joshua Crumb and Michael Costa on the company's board. (Finance Magnates)
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Houston-based technology company Lancium is spending $150 million to build a bitcoin mining farm in Texas that will use renewable energy. In the coming year, the company plans to roll out more than 2,000 megawatts of capacity across its various sites, which Lancium calls "clean campuses." Lancium said the round was led by clean energy company Hanwha Solutions and other power companies. Lancium CEO Michael McNamara said: "I think the fact that all energy companies are investing shows that we have a shared vision for the role that bitcoin mining should play in the grid." (CNBC)
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News on November 23, blockchain and battery technology company Extreme Vehicle Battery Technologies Corp. (EV Battery Tech for short) announced that it signed a share exchange agreement on November 22 to acquire a company focused on developing and managing encryption mining The company Optimal CP Inc. of the facility. EV Battery Tech will issue 55 million common shares of the company to Optimal shareholders at $0.25 per share, valuing the transaction at $13.75 million. (Globenewswire)
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