1、
Currently, the United States ranks first in the global Bitcoin mining power with a proportion of 38%, followed by China (21%), Kazakhstan (13%), Canada (7%), Russia (5%), Germany (3%), Malaysia (3%) and Ireland (2%). The EU countries only account for 6% of the global Bitcoin mining power.
2、
In December 2023, Bitcoin mining revenue reached $1.51 billion, a month-on-month increase of about 30%, setting a record for the highest single month of the year. In addition, transaction fees in December were $324 million, also setting a record for the highest single month of the year.
3、
BitDeer released its December operational update, mining a total of 434 bitcoins, up 7.7% from the previous month and 149.4% from December 2022, eliminating approximately 6,000 legacy mining machines; construction of a 175MW immersion cooling data center at the Tydal mining facility in Norway is continuing and is expected to be completed by mid-2025; plans to begin construction of a 221MW data center in Ohio, USA, is expected to be completed in 2025; in terms of AI cloud services, the first batch of NVIDIA DGX H100 systems have been received, and the cloud service platform will be launched in the first quarter of 2024.
4、
Canadian crypto mining company Hut 8 announced that it mined 453 bitcoins in December and currently has 9,195 BTC, 205,759 mining machines, and a total computing power of 21.5 EH/s. In addition, Hut 8 purchased a 63 MW substation and 1.9 acres of land for approximately US$7.1 million; the US court approved Hut 8 to continue to implement a comprehensive mining operation plan related to Celsius bankruptcy proceedings and transfer mining operations to the newly established MiningCo.
5、
Bitcoin mining company Core Scientific announced that it mined 1,177 bitcoins in December and 13,762 bitcoins in 2023. As of the end of the month, it operated approximately 209,000 owned and hosted bitcoin mining machines. Its data centers in Georgia, Kentucky, North Carolina, North Dakota and Texas have a total hash rate of 23.2 EH/s.
6、
Marathon, one of the largest publicly traded mining companies, announced that it mined 1,853 bitcoins in December and 12,852 bitcoins in 2023, setting a company record. The increase in output came from higher transaction fees on the Bitcoin network; the average operating hash rate increased by 18% month-on-month to 22.4 EH/s. As of December 31, Marathon held a total of 15,174 unrestricted bitcoins.
7、
Bitcoin mining company Bitfarms released its financial report for December 2023, producing a total of 446 BTC, selling 444 BTC, and earning a total of US$18.9 million; the computing power increased by 2% to 6.5 EH/s that month; it produced a total of 4,928 BTC in 2023; and held approximately US$84 million in cash and cash equivalents as of the end of 23.
8、
Canaan Technology announced that it has secured follow-on purchase orders from Cipher Mining and Stronghold Digital Mining. These orders, which total more than 17,000 Bitcoin mining machines, build on Canaan’s existing relationships with Cipher and Stronghold. Cipher has purchased 16,700 A1466 model mining machines and Stronghold has purchased 1,100 A1346 model mining machines. The machines will be delivered in April, May, and January 2024, respectively.
9、
CleanSpark, a US-listed bitcoin mining company, plans to launch an internal bitcoin trading platform this year to maximize returns on its cryptocurrency holdings. The company plans to develop strategies based on regulated crypto products (such as options contracts traded on CME or its affiliates) with the aim of reducing costs and risks through its internal department. As of November 2023, CleanSpark holds 2,575 bitcoins and achieved revenue of $168 million in the fiscal year ending September 2023.
10、
Crypto mining company Argo Blockchain announced the completion of a £7.8 million (US$9.9 million) placement of ordinary shares. The net proceeds from the placement are expected to be used for working capital, debt repayment and general corporate purposes. The new ordinary shares issued this time account for approximately 7.06% of the company's existing issued ordinary share capital before the placement, and are expected to be listed and start trading on January 11, 2024.
11、
Crypto mining company Core Scientific announced the final results of its $55 million equity offering (ERO), which was oversubscribed and will be distributed proportionally based on the cap of $55 million and the number of reorganized Core Scientific shares subscribed by each participant. Thanks to this successful fundraising, Core Scientific was able to emerge from bankruptcy in January.
12、
CleanSpark, a US Bitcoin mining company, announced the purchase of up to 160,000 Bitmain S21 mining machines, equivalent to 32 EH/s. The purchase price of the first 60,000 units is $16.1/T, totaling $193.2 million after deducting discounts and coupons; an additional 100,000 mining machines can also be purchased at a price of $16/T.
13、
Phoenix Group, a UAE-based bitcoin mining and hardware distribution company, announced the purchase of mining machines from Bitmain for $187 million. Phoenix had recently purchased $136 million worth of mining machines from Bitmain competitor Shenma.
14、
Crypto mining company Hut 8 announced that it has entered into a $65 million amended and restated credit facility agreement with Coinbase. Coinbase provided Hut 8 with an additional $15 million in loans, bringing the total principal amount of the loan to $65 million. The new loan is expected to be used for general corporate purposes and will be funded upon or shortly after the closing of the transaction.
15、
CoinShares released a mining report, showing that Bitcoin mining computing power increased by 104% in 2023; the average production cost of each Bitcoin is expected to be US$37,856 after the halving in 2024; unless the Bitcoin price remains above US$40,000, only Bitfarms, Iris, CleanSpark, TeraWulf and Cormint will continue to be profitable, and the impact on mining companies comes from bloated sales, general and administrative expenses (SG&A) costs.
16、
Crypto mining company Core Scientific said the U.S. Bankruptcy Court has approved its reorganization plan under Chapter 11 of the Bankruptcy Code and plans to relist on the Nasdaq at the end of January. Under the reorganization plan, the company's shareholders will receive approximately 60% of Core Scientific's new equity and the company will repay its debts in full. Core Scientific filed for bankruptcy protection in December 2022 and announced this month that it had completed an oversubscribed $55 million equity offering.
17、
Since January 12, Bitcoin's total network computing power is expected to drop by 25%, from around 600 EH/s to 450 EH/s, because the Electric Reliability Council of Texas asked Texas businesses and residents to save electricity due to the cold wave.
18、
Deus X Capital, a $1 billion investment firm, has partnered with Fabiano Consulting to explore investment and strategic opportunities in the bitcoin mining industry. The two firms hope to become investors and fund management providers for mining companies, seeking funding and strategic advice, including expansion and corporate structure. Fabiano Consulting was founded by Amanda Fabiano, former head of mining at Galaxy Digital and Fidelity Investments. (CoinDesk)
19、
Bitcoin mining company Hut 8 Corp. issued a statement saying that a short report published on January 18 by J Capital Research, a group of self-proclaimed biased activists, explicitly disclosed that they would profit if the company's stock price fell. Hut 8 is reviewing the report and will provide updates when the company deems appropriate. Hut 8 Corp. shares fell 23% due to an unconfirmed report by short-selling firm J Capital Research.
20、
Crypto mining company Core Scientific has completed its restructuring process and relisted on Nasdaq after entering bankruptcy proceedings in December 2022. The announced restructuring plan cut $400 million in debt from its balance sheet by converting debt from equipment lenders and convertible note holders into equity. Core Scientific is deploying tens of thousands of mining machines and aims to increase its capacity by more than 50% over the next four years. (CNBC)
21、
Yassine Elmandjra, director of digital assets at Ark Invest, said that the average annual revenue from Bitcoin mining is $12.3 billion, which has exceeded the revenue of many large public companies such as Spotify ($11.8 billion), eBay ($10.1 billion) and Hemes ($10.1 billion). In addition, the cumulative revenue of Bitcoin miners has approached $60 billion.
22、
Canadian mining company Bitfarms said it has purchased land in Foz do Iguaçu, Paraguay, with plans to expand its production capacity by 100 megawatts (MW) in Latin America. Bitfarms said the purchased land is located near the Itaipu Dam, with the potential to use renewable energy at one of the world's largest hydroelectric power stations. The company did not disclose the value of the transaction, but said it expects to complete the expansion in the second half of 2024. (The Miner Mag)
23、
BitDeer Group (NASDAQ: BTDR) has been named one of Singapore's Fastest Growing Companies for 2024. The annual ranking, published jointly by The Straits Times and Statista, recognizes a number of companies known for their rapid growth and contribution to the local economy. BitDeer is the first blockchain company to receive the honor, ranking 6th out of 18 companies in the IT & Software category and 34th in the top 100 list. Statista identified more than 2,000 companies for nomination, reviewing compound revenue growth from 2019 to 2022 to determine their eligibility. According to its ranking, BitDeer achieved an absolute growth rate of 275.51% from 2019 to 2022.
24、
Swan Bitcoin announced Swan Mining as a division of the Swan organization, which began operations in the summer of 2023 and has already provided 4.5 exahash to the Bitcoin network. The division has purchased and delivered mining equipment, bringing its total capacity to over 8 exahash, with full deployment expected in March. Swan has mined over 750 Bitcoins.
25、
Bitcoin mining machine manufacturer Canaan Technology announced that it has completed the second round of preferred stock financing on January 22, raising more than $50 million. Previously, its first round of preferred stock financing raised a total of $25 million. The net proceeds will be used for research and development, expanding production scale, and paying general corporate expenses.
26、
Matt Prusak, chief business officer of crypto mining company Hut 8, will leave on January 31 and take over Celsius' five mines in Texas. In addition, Hut 8 has signed a four-year agreement with Celsius, promising that in addition to restricted stock and incentive equity in the new company, Hut 8 will also pay $20 million in annual management fees.
27、
BitDeer announced that the company's founder and chairman of the board, Jihan Wu, will serve as CEO, and former CEO Linghui Kong will serve as chief business officer. The decision will take effect on March 1, 2024. Jihan Wu said that in the future, resources will be invested in developing cutting-edge technologies and cultivating a strong leadership team.
28、
Bitcoin mining company GRIID began trading on the Nasdaq on January 29 under the ticker GRDI. The listing follows GRIID’s merger with special purpose acquisition company Adit EdTech Acquisition Corp. on January 2, more than two years after the initial proposal. GRIID, headquartered in Cincinnati, has been operating since 2019 and currently operates four U.S. mining facilities. (The Block)
29、
Celsius announced that it has closed transactions under a confirmed plan of reorganization. The plan includes the distribution of more than $3 billion in cryptocurrency and fiat currency to Celsius creditors and the creation of a new bitcoin mining company, Ionic Digital, Inc., which will be owned by Celsius creditors and managed by Hut 8.
