1. On February 7th, the Valkyrie Bitcoin Miners ETF will be listed on Nasdaq, and will invest 80% of its net assets in companies in the cryptocurrency mining ecosystem. In addition to a large number of mining, mining machine, and mining farm companies listed on the US stock market, chip companies such as TSMC may also be included. This is the crypto asset manager's third bitcoin-focused ETF.
2. According to Kazinform, Kazakhstan held discussions on the draft law on "Digital Assets of the Republic of Kazakhstan", which affects all aspects of mining activities. The First Deputy Minister of Finance stated that the current tax rate is 1 tenge per kilowatt and it is proposed to increase it to 5 tenge per kilowatt. In addition, it is proposed that even if it is not in operation, as long as mining equipment is installed, it will be taxed like a casino (casino pays every table in this form, regardless of whether there is activity or not). Additionally, equipment is now imported without paying VAT, and we propose to exclude mining equipment from the (VAT-free) list.
According to Bitcoincom, Kazakh President Kassym-Jomart Tokayev said in a meeting with ministers this week that the socio-economic impact of crypto mining is minimal, does not create many jobs or products, but consumes a lot of energy. In some cases, miners use subsidized electricity and do not pay tariffs on imported equipment. Those who want to work in this field must have the proper licenses, get electricity at the proper tariff, declare income and pay taxes, and start green energy projects. He gave the government until April 1 to draw up sweeping regulations for the industry to ensure miners meet their obligations.
3. On February 11, Intel revealed that Argo Blockchain, BLOCK (formerly known as Square) and GRIID Infrastructure are among the first customers of its latest mining chips, which will be shipped later this year. Watt performance over 1000x higher than mainstream GPUs for SHA-256 based mining. Industry insiders said: It is a bit strange to compare with GPU, because almost no one uses GPU for Bitcoin mining.
4. Bitcoin mining machine manufacturer Ebonex announced that its wholly-owned subsidiary, Ebonex Australia Pty Ltd, has been approved by the Australian Transaction Reports and Analysis Center (AUSTRAC) as a digital currency exchange.
5. György Matolcsy, Governor of the National Bank of Hungary, wrote in a statement: Supporting the EU's top financial regulator's view that the EU should ban cryptocurrency activities. Swedish officials have repeatedly suggested that the EU ban POW mining. (CoinDesk)
Minnesota-based Compute North plans to use the new funds to open new colocation facilities in Nebraska, North Carolina and Texas, among other U.S. states. Compute North founder and CEO Dave Perrill declined to say how many new facilities the company plans to open, or their total capacity, but said several facilities are in various stages of development. (The Block)
Minnesota-based Compute North plans to use the new funds to open new colocation facilities in Nebraska, North Carolina and Texas, among other U.S. states. Compute North founder and CEO Dave Perrill declined to say how many new facilities the company plans to open, or their total capacity, but said several facilities are in various stages of development. (The Block)
7. Bitcoin mining company CleanSpark's stock price rose sharply due to its plan to sell its traditional energy business. BTIG analyst Gregory Lewis predicted the sale could help the miner "upend" its growth trajectory.
Given our success in bitcoin mining, CleanSpark (CLSK) is considering strategic options for its traditional energy business, CEO Zach Bradford said in the company's first-quarter earnings report. Shares of CleanSpark jumped nearly 15 percent on the news, far outpacing the gains of other cryptocurrency miners. (CoinDesk)
8. According to CNBC reports, Brent Whitehead and Matt Lohstroh in Texas, USA, are using natural gas produced by oil drilling for Bitcoin mining. Their company, Giga, places a shipping container full of thousands of bitcoin mining machines on an oil well, diverting the gas to a generator that turns the gas into electricity, which is then used to power the mining machines.
Compared with continuous combustion, this process reduces carbon dioxide equivalent emissions by about 63 percent, according to research by Denver-based Crusoe Energy Systems. Whitehead said they have signed agreements with more than 20 oil and gas companies, four of which are public companies. Giga also said that they are also in talks with sovereign wealth funds and that they are expanding rapidly. Giga's 11-person team will add another six employees this month. Giga says its revenue will exceed $4 million in 2021 and is on track to surpass $20 million by the end of 2022.
9. BIOSTAR announced the launch of the brand new TZ590-BTC motherboard, which is designed based on the Intel Z590 chipset and has a built-in cryptocurrency mining function, 4 DDR4 RAM slots, supports up to 3600 (OC), and a maximum capacity of 128 GB. BIOSTAR officially claims to have 8 PCIe 3.0×1 slots, suitable for cryptocurrency mining.
10. Paolo Ardoino said that Tether and bitfinex have been investing in Bitcoin mining recently. Our strategy is to ensure adequate geographic and political diversity as a priority. Cheap electricity creates centralization, which is good for companies, but not necessarily best for BTC. We work with local entities focused on sustainable mining infrastructure, generating wealth that can be reinvested in the community.
11. The Zhejiang Provincial Working Group for Rectifying Virtual Currency "Mining" sent group text messages through China Telecom (10000): The recent rise of virtual currency "mining" and trading hype activities has seriously disrupted economic and financial order, endangered network energy security, and spawned gambling, Illegal fundraising, fraud, pyramid schemes, money laundering and other illegal and criminal activities infringe on the property safety of the people. Please raise your awareness of prevention and do not participate; if you find virtual currency "mining" activities, please call the reporting hotline.
12. Guotai Junan recently announced that it will further implement the strict prohibition of group employees from participating in virtual currency mining activities, and strictly prohibit group employees from participating in mining activities in any form, and at the same time prevent infection of mining viruses.
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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.
