Courtesy: Yahoo FinanceStronghold Digital Mining, Inc. is a environmentally friendly, Bitcoin mining company based in the United States. Stronghold's Bitcoin Mining Performance Stronghold generated 620 Bitcoin $BTC during the third quarter of 2023. Network hash rate grew approximately 9% from the second quarter of 2023 to the third quarter 2023. The Company is committed to Bitcoin mining and expects at least 20% sequential growth in hash rate going into the fourth quarter of 2023. Stronghold's CO2 Capturing Initiative Stronghold's Bitcoin miners operate in low-cost, coal power generation facilities in Pennsylvania: namely, Scrubgrass and Panther Creek. These two mining-waste-to-power facilities produce approximately 800,000 to 900,000 tons of ash per year. It has been recently discovered that this ash produced as a natural byproduct of Bitcoin mining, can capture CO2 from ambient air at a capacity of up to 12%. This means Stronghold's ash could capture approximately 100,000 tons of CO2 per year. On November 10, 2023, Stronghold launched the first phase of its carbon capture project at the Scrubgrass Plant. Laboratory tests are conducted by Karbonetiq, Inc. at their Santa Barbara, California.The mechanism: Stronghold’s beneficial use ash naturally contains reactive calcium oxide as a result of including limestone in the fuel mix to reduce sulfur dioxide emissions given high sulfur content in mining waste. Calcium oxide can, under the right conditions, bond with CO2 to form calcium carbonate, effectively absorbing CO2 out of ambient air and permanently storing it in a geologically stable solid. Karbonetiq’s lab results demonstrated that Stronghold’s beneficial use ash can potentially capture CO2 at a capacity of approximately 12% by weight of starting ash with the use of their proprietary, patent pending, direct air capture technology.According to Yahoo Finance, the cost of equipment for the first phase is expected to be less than $100,000, and the Company believes that the scaled project will cost approximately $50-125 per annual ton of CO2 capture capacity. Field testing is in progress with initial results expected by December of 2023. I guess if you notice any investing opportunity connected to reducing carbon emissions as a result of Bitcoin mining, you should give it serious thought.Here's the original article that inspired me to write about Stronghold's novel initiative in greenhouse gas effect reducing bitcoin mining.#BitcoinMiningNews #BitcoinMiningRevenue #BitcoinMining #Bitcoin-BTC

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U.S.-listed miners' share of the network hashrate increased to 26% this month, the highest level on record, the report said.

Mining profitability fell to all time lows as the network hashrate rose in the first two weeks of August, the report said.U.S. miners' share of the Bitcoin network hashrate rose to a new record high of 26%, the bank said.The bank noted that the network hashrate has risen about 1% so far this month.

Bitcoin (BTC) mining stocks gave back artificial intelligence (AI) related gains in the first two weeks of August as the network hashrate rose which pushed mining profitability to record lows, JPMorgan (JPM) said in a research report on Friday.
Hashrate refers to the total combined computational power that is used to mine and process transactions on a proof-of-work blockchain.
The total market cap of the fourteen U.S. listed miners the bank tracks fell 18% since the end of July, and "currently trade 2X their proportional share of the four-year block reward," analysts Reginald Smith and Charles Pearce wrote.
It's not all bad news for the sector. U.S.-listed miner's share of the Bitcoin network hashrate rose for the fourth month in a row to 26%, a new record high, the report said.
The network hashrate rose around five exahashes per second (EH/s), a 1% gain, to an average of 621 EH/s in the first two weeks of the month, the bank said, noting that it is still 30 EH/s below the levels seen before the halving.
The hashprice, a measure of mining profitability, is still around 30% lower than the levels seen in December 2022 and about 40% below pre-halving levels, and this could slow hashrate growth in the near term, the report added.
The bank noted that the bitcoin price has dropped about 5% since the halving, but is still up 35% year-to-date and 104% year-on-year.

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#Blockstream

Blockstream Mining Unveils $10 Million BMN2 Investment Opportunity: A Game-Changer for Bitcoin Mining

Introduction

Blockstream Mining has launched its third investment round for the Blockstream Mining Note 2 (BMN2), offering a cutting-edge opportunity for those looking to invest in Bitcoin (BTC) mining operations. This new fundraising initiative seeks to raise $10 million and introduces an innovative financial instrument priced at $31,000 per BMN2 note. Each note provides investors access to Bitcoin mined from a robust hashrate capacity of 1 petahash per second (PH/s). The investment window is open for a limited three-week period, presenting a unique chance to engage in a cost-effective mining solution.

Strategic Advantages of BMN2

The BMN2 note distinguishes itself from traditional mining investments through its risk mitigation features. Unlike conventional hashrate futures, which often come with counterparty risks, the BMN2 offers a four-year locked price. This feature ensures a stable investment landscape, particularly appealing in light of recent downturns in hashprice, which is currently about 30% lower than levels seen in September 2022. According to James Macedonio, this structure allows investors to capitalize on favorable market conditions following price fluctuations.

Market Analytics and Industry Insights

JPMorgan's research highlights the unique market conditions prevailing at Bitcoin's current hashprice levels. With rising energy costs and increasing competition within the mining sector, investing in BMN2 at an effective rate of less than 4.5 cents per kilowatt-hour could substantially enhance returns. Industry experts have noted that the BMN2 certificate not only mitigates risks associated with miner failures but also provides a more direct link to Bitcoin production, bypassing intermediary risks.

Investor Trends and Expectations

The investor landscape for BMN2 shows strong interest from international family offices and European funds. Although U.S. institutional interest is budding, formal offerings are still pending. Previous rounds, notably the BMN1 notes, have set a high bar with over 1,242 BTC mined and average returns exceeding 103%. The BMN1’s success, coupled with discounted pricing for early investors, underscores the strong demand for alternative investment vehicles in the cryptocurrency space.

Conclusion

Blockstream’s BMN2 investment round signifies a pivotal moment in the evolution of crypto investment products. This offering not only showcases a sophisticated approach to Bitcoin mining investment but also provides a timely opportunity for those navigating the complex mining landscape. With a proven track record from earlier funds and a focus on institutional-grade financial products, BMN2 aims to enhance financial security and yield for investors. As the crypto market continues to evolve, BMN2 represents a forward-thinking solution designed to meet the needs of today’s sophisticated investors.
For those interested in a stable and potentially lucrative entry into Bitcoin mining, the BMN2 offers an innovative and strategic investment option worth considering.

#RussiaCrypto #Russia #BitcoinMiningNews #BTC500K #BTC☀

Introduction

In 2023, Russia achieved a remarkable milestone by mining 54,000 BTC, as revealed by Sergey Bezdelov, Director of Russia’s Industrial Mining Association. This massive Bitcoin mining endeavor has had a profound impact on the nation's economy, contributing around 50 billion rubles ($556 million) to the government’s tax revenue. Bezdelov’s announcement underscores the growing significance of cryptocurrency mining in Russia’s economic landscape.

Key Insights into Russia’s Cryptocurrency Mining Boom

54,000 BTC Mined in 2023: In the past year, Russia generated a substantial 54,000 BTC, which is valued at over $3 billion based on current market rates. This places Russia as a prominent player in the global crypto mining arena.
Impact on Tax Revenue and Economy: The mining operations have produced significant tax income, with 50 billion rubles ($556 million) added to Russia's treasury. The recent legalization of cryptocurrency mining is anticipated to attract further investment and enhance tax revenues.

Crypto Mining : A Strategy for Sanction Evasion

Russia’s increasing investment in cryptocurrency is viewed as a strategic measure to circumvent Western sanctions. Analysts suggest that domestic crypto exchanges like Garantex and Exved may play a crucial role in enabling sanction evasion through digital asset transactions.

The Expanding Crypto Mining Sector

With the recent legalization of crypto mining in Russia, the sector is poised for further growth. This expansion is expected to attract additional investments, broaden mining operations, and open new avenues for generating tax revenue. This development is part of Russia’s broader strategy to leverage cryptocurrencies for economic stability and to reduce reliance on traditional financial systems hindered by international sanctions.

Conclusion

Russia’s mining of 54,000 BTC in 2023 highlights its increasing engagement with the cryptocurrency sector. The $556 million in tax revenue and the anticipated rise in investments due to the legalization of mining indicate that Russia’s crypto strategy is evolving into a significant economic and geopolitical tool. As domestic exchanges support these efforts, Russia’s influence in the global cryptocurrency market is set to grow.
For more insights into the innovative startups that are shaping the future of the crypto industry, check out our latest article, which explores the most promising ventures and their potential to disrupt conventional sectors.
Disclaimer: The information provided here is not investment advice. Bitcoinworld.co.in is not liable for any investment decisions made based on this content. We recommend conducting independent research and/or consulting with a qualified professional before making any investment choices.