Editor's Note
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It’s the weekend! New hardware, more hashrate, and soon a protocol upgrade (Taproot). It’s been a busy week for bitcoin miners and investors. With more Compass miners continuing to come online and bitcoin sitting only a few percent below
its latest all-time high, life is good.
Unlike bitcoin, our newsletter doesn’t have any major upgrades. …just keep scrolling for the usual recap of this week’s mining news, insights, memes, and videos. Thanks for reading.
– Zack
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Just Click It
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- Bitmain launched its new S19XP machine at the World Digital Mining Summit.
- Idaho power providers are reportedly asking state regulators for a new rate schedule for cryptocurrency customers.
- Foundry launched a staking service for institutions.
- F2Pool is closing its BSV pool.
- NYCCoin mining on the Stacks protocol started this week.
- Russian lawmakers draft legislation for their growing bitcoin mining industry.
- Colleen Sullivan leaves Argo’s board after three months.
- Compass launches a marketplace for reselling mining hardware.
- Kazakhstan miners face new regulations amid ongoing power shortages.
- Bitfarms buys a 24MW facility in Washington State.
- UAE-based Phoenix Technology orders $650 million of ASICs.
- Hive raises C$110 million to expand mining operations.
- The9 signs a deal with Compute North to expand their hosted mining operations.
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A Brief History Of Bitcoin Mining
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Author and journalist Ethan Lou talks about his new book, “Once A Bitcoin Miner.”
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Launching the Compass Marketpalce
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Procurement Director Vincent Vuong appeared on stage at the 2021 World Digital Mining Summit.
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Ethereum Mining After China’s Ban
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Compass talks to a panel of ether miners about the future of ETH mining after China’s recent ban.
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Public mining operations are primarily funded through equity.
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A company can raise capital in two ways, either through debt or equity. So far, public miners have opted for equity to expand operations evidenced by their financial leverage ratio. As the mining industry matures, it’s reasonable to expect a transition to debt
financing over equity.
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Bitcoin miners don’t really move market prices.
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Early in Bitcoin’s history, a miner selling a portion of their payouts may have had a noticeable effect on Bitcoin’s price. But that’s not true at all today. Unfortunately, because this theory inescapably arises during nearly every mid- or
large-sized market selloff, it is always worth revisiting.
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Compass Community
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- New hardware listings from Compass are apparently disrupting @M4TT_Pleberton's sleep schedule.
- Compass miner @SiCiNKtattoos is flexing a bit.
- Shoutout to @TheMadHodler for their patience as the Compass operations teams works to bring more miners online.
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Written by Zack Voell, Lili Rhodes , and
Will Foxley
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About Compass: Compass is a Bitcoin mining and modern media company focused on driving the mass adoption of cryptocurrency mining.
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