Weekly mining information (0110-0116)
1、
According to BTC.com data, after the network recovery in Kazakhstan, the total network computing power of Bitcoin mining has exceeded 200 EH/s in the past three days, reaching a record high. Previously, it was widely expected that the computing power of Bitcoin's entire network would reach 300 EH/s in 2022. According to feedback from miners in Kazakhstan, the national network has been restored since January 11. As of noon on January 12, the network is normal, and the mine has basically returned to normal.
2、
On January 10, the National Development and Reform Commission issued a decision on revising the "Industrial Structure Adjustment Guidance Catalog (2019 Edition)". (18) Others", add item 7, which reads "Virtual currency 'mining' activities".
In December, according to Haikou Daily, the Hainan Development and Reform Commission issued the "Notice on Issues Concerning the Implementation of Differential Electricity Price Policies for Virtual Currency Mining" and decided to list virtual currency "mining" activities as an eliminated industry and implement differential electricity prices. The price increase standard is 0.8 yuan per kWh (per kWh).
3、
Former Twitter CEO Jack Dorsey is hiring a team to build a "next generation" bitcoin mining chip, according to Bitcoin Magazine.
4、
The website of the Central Commission for Discipline Inspection and the State Supervision Commission: Virtual currency "mining" consumes a lot of energy and carbon emissions, and its blind and disorderly development runs counter to my country's carbon peak carbon neutrality and high-quality development goals. In order to prevent "wearing new shoes and walking the old road" under the banner of new ideas, high technology, and digitalization, the Zhejiang Provincial Commission for Discipline Inspection and Supervision has carried out the work of using public resources to participate in "mining" and rectify trading behavior. The Jiangxi Provincial Commission for Discipline Inspection and Supervision has urged and coordinated with relevant departments to conduct investigations on issues such as virtual currency production in violation of regulations by some enterprises in the development zone, and timely investigate and correct behaviors that discount the implementation of new development concepts, make flexibility, and make choices.
5. On January 11, the Information and Network Center of Xiamen University issued the "Risk Reminder Regarding Norton 360 Antivirus Software's Built-in Mining Function". Added the mining function "Norton Crypto" of the Ethereum cryptocurrency. This function runs counter to the country's comprehensive rectification of virtual currency "mining" activities, and there are certain security risks. Teachers and students are advised to use Norton 360 anti-virus software with caution.
6、
Bitcoin and encryption service provider Luxor Technology said on Jan. 11 that it is launching a new brokerage business for buying and selling high-performance bitcoin mining machines. Previously, Foundry Digital, Compass Mining, etc. have stated that they have launched similar services.
7、
Zhitong Finance APP learned that on January 11, the Chinese English education company Meilian International Education (METX.US) announced that it has started the initial trial operation of cryptocurrency mining business in Pennsylvania, USA. At present, the company has obtained 147 cryptocurrency mining machines with a total computing capacity of about 14P, and has conducted commercial trials in Pennsylvania, USA.
Recently, An Gaomeng has delivered 1335 bitcoin mining machines to the company. Involvement in the cryptocurrency mining business is one of the company's strategic plans to transform into a "metaverse technology company." The company has now started building mines in Canada and the United States. The company also hopes to offer managed services in the future.
8、
Spanish Congress representative Maria Muñoz has sent a letter to Congress asking what actions Spain can take to attract BTC mining operations fleeing Kazakhstan. Also, in the same letter, she asked about the development of the BTC mining industry in the country and how Spain uses energy. (News Bitcoin)
9、
According to the Kazakhstan Data Center Industry and Blockchain Association (NABCD), the unrest did not affect the region where the official crypto mining company operates. The impact of the current situation on cryptocurrency prices is short-lived. NABCD Chairman Alan Dorjiyev said: "Currently, companies, association members are working as usual. For our part, we are trying to ensure corporate social responsibility and make a positive contribution to the lives of residents in the area where the data center is located." Kazakhstan Data The Central Industry and Blockchain Association believes that from a strategic point of view, Kazakhstan will remain one of the most attractive regions for the development of cryptocurrency mining. Power supply restrictions imposed by mining entities have also now been eased. (News Bitcoin)
10、
Canadian miner Hive Blockchain (HIVE) said on Monday it currently holds all the bitcoin it has mined in 2021, while selling some ETH and all the ETC it produced. Hive Blockchain produced 1,768 bitcoins last year, while mining 41,966 ETHs, part of which was sold to pay for chip upgrades, and 46,209 ETCs were also produced, all of which will be sold in 2021.
（CoinDesk）
11、
Singapore-listed company and Malaysian real estate company Hatten Land confirmed that it and its partner Frontier Digital Management have shipped the first batch of 80 encryption mining equipment after delays due to supply chain issues. Hatten Land said in a filing to the exchange that the miners will start operating this month after delivery and installation.
As reported in September 2021, Hatten Land subsidiary HTPL signed an agreement with Frontier Digital Asset Management to operate at least 1,000 crypto mining machines in Malaysia. (Straits Tmes)
12、
On January 11, according to data on the chain, an individual miner with a computing power of only 126 TH won a block reward of 6.25 BTC, worth over $260,000. The block height of this Bitcoin block is 718124.
13、
Charts from Glassnode show that crypto miners have shown plenty of confidence in the $40,000 Bitcoin and have been actively buying it.
According to recent data, miners have been accumulating at the fastest rate since the market correction in May 2021. Bitcoin miners accumulated more than 6,100 BTC for five consecutive days, and mining giant Bitfarms added 1,000 BTC during the most recent price correction, bringing its total holdings to 4,300.
Jurrien Timmer, director of global macro at Fidelity, put forward an interesting analysis. Under the Fed's hardline stance, the crypto market is facing downward pressure along with the stock market, but he added that Bitcoin has now found a key support area of $40,000. Timmer analyzed this based on the S-curve model. He writes: "The $30,000 level in 2021 provides support based on my demand model (S-curve model). The same level appears to have moved up to $40,000, again providing fundamental support. It is a moving target, usually Provides a fundamental anchor for price."
Additionally, Timmer compared Bitcoin to gold. He noted that the bitcoin/gold ratio has dropped into the breakout zone since last year. This suggests that Bitcoin is moderately oversold at $40,000. Therefore, he added, Bitcoin has both technical and fundamental support at $40,000. Even if Bitcoin falls to this level, it could be a quicker recovery. (Coin Gape).
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According to the "Notice on Further Preventing and Dealing with the Risk of Hype in Virtual Currency Transactions" issued by the central bank and other departments, the content of this article is only for information sharing, and does not promote or endorse any operation and investment behavior. Readers are requested to strictly abide by the laws and regulations of the region and do not participate in Any illegal financial conduct. Wu said that without permission, it is forbidden to reprint or copy the content, and those who violate it will be investigated for legal responsibility.
According to the "Notice on Further Preventing and Dealing with the Risk of Hype in Virtual Currency Transactions" issued by the central bank and other departments, the content of this article is only for information sharing, and does not promote or endorse any operation and investment behavior. Readers are requested to strictly abide by the laws and regulations of the region and do not participate in Any illegal financial conduct. Wu said that without permission, it is forbidden to reprint or copy the content, and those who violate it will be investigated for legal responsibility.
