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😃 Bitmain to start sale new Bitcoin Antminer T21 in January 2024 Bitcoin miner supplier Bitmain has released its brand-new Antminer T21, featuring a computing power of 190 TH/s and an energy efficiency ratio of 19 J/TH. Bitmain, a major global manufacturer of Bitcoin application-specific integrated circuits (ASIC), has officially released its new air-cooled BTC miner, the Antminer T21. Bitmain took to Twitter on Oct. 26 to announce the world premiere of the new Antminer T21, the firm’s new air-cooling miner that can withstand ambient temperatures up to 45 degrees Celsius. According to Bitmain’s head of marketing, Xmei Lin, the Antminer T21’s global release happened at the Blockchain Life 2023 Forum in Dubai, where Bitmain was a “diamond sponsor.” Bitmain’s brand-new mining device is expected to start shipping in January 2024, the company’s spokesperson told Cointelegraph. The air-cooling miner supports the SHA256 mining algorithm used for mining proof-of-work (PoW) cryptocurrencies like Bitcoin, as well as forked coins like Bitcoin Cash and Bitcoin SV (BSV). The T21 provides a computing power of 190 terahashes per second and an energy efficiency ratio of 19 joules per terahash. At the event, Bitmain also offered Antminer T21 buyers an opportunity to get Bitmain’s price protection plan, which is designed to support miners in case of a decline in cryptocurrency prices. Available until Nov. 25, 2023, the plan allows customers to be protected against the downside fluctuation of BTC price for a period of one month, three months or six months. Customers will get compensation in cash if the BTC price falls below the strike for any reference day within the protected period, the firm said, adding that compensation shall be paid “immediately upon the triggering event.”

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😃 Bitcoin price shrugs off bears, but mining stocks take a beating: Report The crypto mining sector is becoming increasingly competitive, with hash rate showing no sign of slowing down, and Bitmain has released a new rig. Until Bitcoin breaks its long-established $25,000–$30,000 trading range, the crypto market is arguably in what some analysts have called a “crab market.” It is likely that a decisive macroeconomic or crypto-specific catalyst will be necessary to break out of it. This failed to occur in the month of September. The BTC price briefly tested the lower end of the established trading range and touched $25,200. In the second half of the month, however, the price recovered to $26,900 and posted a monthly close of +3.92%. This both bucked the historical trend of negative closes in September and went against traditional markets. The S&P 500 was down 5.4% over the same time frame. However, Bitcoin’s relative resilience did not stabilize the industry as a whole. Crypto stocks were hit with an even bigger correction than the S&P, and altcoins continued their month-long losing streak against BTC. As every month, the Cointelegraph Research Investor Insights report provides an overview of industry-wide developments. It is an invaluable resource, especially in bear market conditions when many of the less mature sectors of the industry drop out of the news headlines. Major mining companies down 30% Most publicly traded crypto companies faced a challenging month in September, and their stocks underperformed. In many cases, share prices dropped between 10% and 40%, and the sector averaged a decline of 22.4%. Crypto mining stocks were hit especially hard. TeraWulf, Marathon Digital and Iris Energy all lost almost one-third of their valuation. The miners affected by these large corrections had rallied massively in the first half of the year, sometimes gaining +300%. However, share prices started to decline in July and have now mostly erased these previous gains.

😃 Bitcoin price shrugs off bears, but mining stocks take a beating: Report The crypto mining sector is becoming increasingly competitive, with hash rate showing no sign of slowing down, and Bitmain has released a new rig. Until Bitcoin breaks its long-established $25,000–$30,000 trading range, the crypto market is arguably in what some analysts have called a “crab market.” It is likely that a decisive macroeconomic or crypto-specific catalyst will be necessary to break out of it. This failed to occur in the month of September. The BTC price briefly tested the lower end of the established trading range and touched $25,200. In the second half of the month, however, the price recovered to $26,900 and posted a monthly close of +3.92%. This both bucked the historical trend of negative closes in September and went against traditional markets. The S&P 500 was down 5.4% over the same time frame. However, Bitcoin’s relative resilience did not stabilize the industry as a whole. Crypto stocks were hit with an even bigger correction than the S&P, and altcoins continued their month-long losing streak against BTC. As every month, the Cointelegraph Research Investor Insights report provides an overview of industry-wide developments. It is an invaluable resource, especially in bear market conditions when many of the less mature sectors of the industry drop out of the news headlines. Major mining companies down 30% Most publicly traded crypto companies faced a challenging month in September, and their stocks underperformed. In many cases, share prices dropped between 10% and 40%, and the sector averaged a decline of 22.4%. Crypto mining stocks were hit especially hard. TeraWulf, Marathon Digital and Iris Energy all lost almost one-third of their valuation. The miners affected by these large corrections had rallied massively in the first half of the year, sometimes gaining +300%. However, share prices started to decline in July and have now mostly erased these previous gains.

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😃 Startup demos upcoming decentralized GPU infrastructure network to OpenAI, Uber IO has built a decentralized physical infrastructure network that will source GPU computing power for AI and machine learning. A project that started out as an institutional-grade quantitative trading system for cryptocurrencies and stocks has transitioned to become a decentralized network sourcing GPU computing power to serve increasing demand for artificial intelligence (AI) and machine learning (ML) services. IO has developed a test network that sources GPU computing power from a variety of data centers, cryptocurrency miners and decentralized storage providers. Aggregating GPU computational power is touted to drastically reduce the cost of renting these sources, which are becoming increasingly expensive as AI and machine learning advance. Speaking exclusively to Cointelegraph, CEO and co-founder Ahmad Shadid unpacks details of the network that aims to provide a decentralized platform for renting computing power at a fraction of the cost of centralized alternatives that currently exist. Shadid explains how the project was conceived in late 2022 during a Solana hackathon. IO was developing a quantitative trading platform that relied on GPU computing power for its high-frequency operations but was hamstrung by the exorbitant costs of renting GPU computing capacity.

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😃 Bitcoin miners Marathon, Riot, CleanSpark increase BTC output in September Marathon Digital, in particular, produced 1,242 BTC in September, which accounted for a record 4.3% share of Bitcoin miner rewards. Bitcoin miners Marathon Digital, Riot Platforms and CleanSpark recorded strong Bitcoin production increases in September, leading to a small boost in share prices on Oct. 4. The firm’s balance sheets also strengthened despite Bitcoin’s price recording another month of sideways movement, hovering between the $25,100 and $28,500 mark. Marathon’s Bitcoin production rises 245% Bitcoin mining firm Marathon Digital produced a total of 1,242 BTC in September — a 16% increase from August and a massive 245% increase from September 2022. The huge spike in BTC production came from a 508% increase in the firm’s installed hash rate from 3.8 exahashes per second (EH/s) in September 2022 to 23.1 EH/s, according to Marathon’s September results. In the Oct. 4 statement, Marathon CEO Fred Thiel said the firm was pleased to reach its goal of 23 exahashes on an installed basis. The United States-based firm said it’s now on the lookout for new mining locations offering low-cost renewable energy:

“We are evaluating multiple opportunities for our next 5 exahashes of hash rate capacity including international locations with low-cost renewable energy.”

Marathon said it has now produced 8,610 BTC year-to-date in 2023. The firm’s balance sheet shows 13,726 unrestricted BTC and $101 million in unrestricted cash and cash equivalents, totaling $471.2 million. The firm’s share price increased 3.29% to $7.54 on Oct. 4, according to Google Finance.

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😃 El Salvador launches first Bitcoin mining pool as Volcano Energy partners with Luxor El Salvador’s ambitious renewable energy Bitcoin mining operation welcomes its first mining pool as Volcano Energy partners with Luxor. El Salvador officially launched its first local Bitcoin mining pool as the Volcano Energy project begins mining blocks through Lava Pool in partnership with Luxor Technology. The Bitcoin-friendly country’s $1 billion rhttps://images.cointelegraph.com/images/1434_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMTAvNmNlMjI4ZmYtYmJmYy00MDM1LThkYTctMThiZTNiYzI4YzQ5LmpwZw==.jpgenewable energy project made headlines earlier in 2023, with stablecoin issuer Tether among companies investing in the project that plans to generate electricity from renewable sources in El Salvador to power future Bitcoin mining operations in the country. Volcano Energy is tapping into Luxor’s experience in providing Bitcoin mining software and services. The project will also use Luxor’s Hashrate Forward Marketplace to mitigate market volatility through automated risk management strategies used by other major Bitcoin mining operators. A statement from Volcano Energy chief strategy officer Gerson Martinez highlighted ongoing efforts by El Salvador to secure first-mover advantage as a Bitcoin-adopting nationstate:

“Our vision is to create a vertically integrated energy and bitcoin mining company whose value is accretive to investors and to all Salvadoran citizens.”

Luxor’s chief operating officer Ethan Vera said the establishment of Volcano Energy and the start of local Bitcoin mining will contribute to Bitcoin’s ethos of geographical decentralization. The announcement also mentions the potential for countries with abundant renewable energy sources to use Bitcoin mining to improve the economics of new energy projects. Mining operations can provide a “flexible buyer of first and last resort” for energy producers and act as an alternative revenue stream.

😃 Texas is home to nearly 30% of all Bitcoin hash rate — Foundry According to Foundry’s data pool, Texas accounts for 28.5% of all Bitcoin hash rate in the United States. The U.S. state of Texas accounts for over 28% of all Bitcoin hashing power in the United States, according to the latest Hashrate Map by crypto mining service provider Foundry USA. The newly updated map shows Texas with 28.5% of all the country’s Bitcoin hash rate, followed by Georgia claiming 9.64% of the hash rate, New York with 8.75% and New Hampshire accounting for 5.33%. Bitcoin’s hash rate represents how fast a mining machine operates when trying to calculate a valid block hash. A snapshot of Foundry’s pool in December 2021 shows a different picture. Texas controlled 8.43% of the country’s hash rate at the time, while Georgia had 34.17%. Meanwhile, Kentucky stood at 12.40%, and New York held 9.53%. Compared with 2021, more U.S. states are mining Bitcoin in 2023. Overall, by July 2023, the Bitcoin global hash rate had reached 400 exahashes per second (EH/s), nearly twice as high as at the end of 2021, when it stood at 174 EH/s, said Foundry.

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😃 Bitcoin mining can help reduce up to 8% of global emissions: Report The report highlighted that Bitcoin mining can convert wasted methane emissions into less harmful emissions. A paper published by the Institute of Risk Management (IRM) concluded that Bitcoin has the potential to be a catalyst for a global energy transition. IRM Energy and Renewables Group members Dylan Campbell and Alexander Larsen published a report titled “Bitcoin and the Energy Transition: From Risk to Opportunity.” The paper argued that while BTC was perceived as a risk because of its energy consumption, it can also catalyze energy transition and lead to new solutions for energy challenges worldwide. Within the report, the authors also highlighted the important function of energy and the increasing need for reliable, clean and more affordable energy sources. Despite the criticisms of Bitcoin’s energy intensity, the study provided a more balanced view of Bitcoin by showing the potential benefits BTC can bring to the energy industry. According to the report, Bitcoin mining can reduce global emissions by up to 8% by 2030. This can be done by converting the world’s wasted methane emissions into less harmful emissions. The report cited a theoretical case saying that using captured methane to power Bitcoin mining operations can reduce the amount of methane vented into the atmosphere. The paper also presented other opportunities for Bitcoin to contribute to the energy sector. According to the report, Bitcoin can contribute to energy efficiency through electricity grid management by using Bitcoin miners and transferring heat from miners to greenhouses. “We have shown that while Bitcoin is a consumer of electricity, this does not translate to it being a high emitter of carbon dioxide and other atmospheric pollutants. Bitcoin can be the catalyst to a cleaner, more energy-abundant future for all,” the authors wrote.

😃 Bitcoin miners double down on efficiency and renewable energy at the World Digital Mining Summit Bitmain rolled out its efficiency-focused Antminer S21 at the WDMS, and Bitcoin miners shared their plans for boosting productivity via green energy. Bitmain rolled out its next-generation Antminer S21 and S21 Hydro ASIC miners at the World Digital Mining Summit (WDMS) in Hong Kong on Sept. 22, revealing the crucial performance stats the entire industry has been waiting for. The S21 has a hash rate of 200 terahashes per second (TH/s) and an efficiency of 17.5 joules per terahash (J/T), while the S21 hydro hashes at 335 TH/s and 16 J/T, which is notable given that until recently, most Bitcoin ASICS were operating above the 20 J/T level. With electricity costs continuing to rise year-over-year and the Bitcoin halving projected to occur in April 2024, ASIC efficiency is quickly becoming the paramount focus of miners, and many are also pivoting toward folding in renewable energy sources as a core component of their operations. Bitcoin miners focus on efficiency and renewable energy Sustainable development in the mining industry was a core theme discussed in a majority of the panels at the WDMS. In the opening roundtable, team members from Terrawulf, Core Scientific, CleanSpark and Iris Energy shared their perspectives on how further integration of renewable energy sources will become a critical strategy to implement for many miners after the April 2024 Bitcoin supply halving. According to Nazar Khan, Terrawulf’s chief operating officer: “There’s a significant transition going on in the supply side of the generation process; there’s a concerted effort to decarbonize the entire supply stack, and so when we talk about Bitcoin miners consuming more renewable energy, that’s part of a broader theme that’s happening across the United States without Bitcoin mining as well. The role that we play is locating our Bitcoin mining loads in places where that’s happening and how do we facilitate that decarbonization process.“

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