Compass has got off to a phenomental start with an action-packed October. During the month, we carried out our official launch of the platform and onboarded several new mining facilities.

As Compass works closely with the lowest-cost mining facilities worldwide, our users and community get access to some of the most competitive opportunities to buy and host hardware. We will be passing along some of the best deals to HASHR8 subscribers as the Compass platform continues to grow and prosper.

Antminer S17 (53 TH/s) Buy + Host in Washington, USA

Our partner facility in Washington, USA, has second-hand Bitmain Antminer S17 ASICs available for a purchase and hosting package. They come with a 3 month warranty.

• Each S17 machine is priced at $1200 ($22.64/TH)

• The all-in hosting price is $0.057 per kWh

• Each machine is currently generating approx. 0.00043460 BTC ($6.63) a day, and $3.37 daily profit after electricity costs 

• There is no minimum order size!

These machines are setup and ready for you. Purchase your machine and start mining to your wallet in 72 hours or less.

Bitcoin market conditions are as bullish as they have been since 2017. But this time, a new type of player has entered the game. Over recent months, there has been an increasing number of institutions getting exposure to Bitcoin.

MicroStrategy made it easier for others to follow suit when they became the first exchange-listed firm to buy Bitcoin as part of an asset allocation strategy. Since MicroStrategy’s $425 million purchase:

• Square have purchased $50 million worth of bitcoin

• Stone Ridge Asset Management revealed ownership of 10,000 bitcoin

• A UK exchange-listed firm – Mode Global Holdings PLC – announced that it plans to invest up to 10% of its $11.65 million cash reserves into bitcoin

On top of that, there has been a huge amount of bitcoin flowing out of exchanges recently. This tightens the market supply and makes the asset more susceptible to upside price movements.

Iran is introducing a new federal law that will force licensed Bitcoin miners in the country to sell their generated bitcoin to the country’s central bank. The news originally surfaced from the state-run Iranian Students’ News Agency. Iran is in deep recession with strict US sanctions curbing oil exports. Western media has speculated that the move could be an attempt by the Iranian government to meet import expenses. Details of the new regulation are still uncertain.

Coinmetrics releases research analysing the behaviour of mining pools and miners. Karim Helmy has published a study which has a new methodology for exploring the impact of miners on the Bitcoin market. To date, most research and data analysis has considered movements from the wallets of mining pools. However, the dominant share of these outflows will simply be compensating miners connected to the pool. Karim partitions his investigation into both mining pools and miners. The study highlights how the holdings of miners have been progressively representing a lower portion of the total Bitcoin supply. Moreover, it shows how miner wallets have dominantly had net outflows in recent years as the Bitcoin mining industry has become increasingly competitive.

A new mining company has ambitions to set up a 160 MW facility in Russia’s Siberian region. The company, MineSpot, intends to set up a facility close to a dam in Eastern Siberia. Siberia has advanced hydropower infrastructure and it has been estimated that the region generates a surplus of 5 GW of energy . MineSpot will be a hosting facility for ASIC and GPU mining. It is uncertain how much of the estimated 160 MW will be filled. MineSpot CEO Adam Aushev anticipates that the facility will book 10 MW by the end of the year.

Russian hosting provider BitRiver establishes a joint venture with Russian energy company En+. The joint venture – called Bit+ – will provide datacenter hosting services. It is reported that the facility already has 10 MW of capacity. The duo eventually aims to scale to 40 MW of capacity.

Taproot Activation Uncertainty. Taproot – a Bitcoin protocol change which will enable greater privacy and smart contract capabilities on the network – has been merged into the Bitcoin codebase . The code merge enables testing of Taproot in the testing environments of the regtest chain and signet chain. However, there is still uncertainty over how the upgrade will be activated on the Bitcoin main network. Developers have been debating various activation methods since July with some new ideas for activation being proposed. This discussion may ramp up over the coming weeks and months.

This week’s HASHR8 podcast is a Bitcoin mining panel that features three professionals who have operated at the highest level in the industry. The trio discuss Bitcoin miner migration, seasonal hashrate swings, upcoming hardware releases, and 5 nm chips!

We are a modern media and Bitcoin mining company focused on driving the mass adoption of cryptocurrency. Our research analysts and content creators strive to provide actionable and engaging content on the most relevant industry topics.

For more information, to submit a story for review, or to share a newsworthy tip, please email us at media@hashr8.com.

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