Bitcoin mining continued to report important news this week, among the highlights is the new Canaan Creative miner. The Chinese manufacturer announced the launch of a revolutionary ASIC that regulates its temperature with dielectric oil.
The business of extracting crypto coins continues to evolve and generate important news. In CryptTrend, as usual, we present this Sunday’s summary with a selection of the 5 most important news of the last 7 days related exclusively to mining.
Many other news items set the tone during the week. Another one is the intensification of the persecution of the miners in Iran. Other no less important information is related to the increasing difficulty and the increasing capitalization of Hive Blockchain and Marathon.
As already highlighted, in this summary, the five most important news related to Bitcoin mining are presented:
Canaan Creative launches an ASIC that regulates its temperature with dielectric oil.
In Iran, the persecution against miners considered „illegal“ is intensifying.
Hive Blockchain and Marathon join the club of mining companies that reach a capitalization of $1 billion.
Shortage of ASICs is accentuated after advance sales of Bitmain.
Bitfarms closed the $20 million CAD private placement contract.
Bitcoin mining by immersion is one of the most outstanding techniques when it comes to saving resources in the long term. It eliminates the operating costs of air-conditioned cooling, regular maintenance, noise and significantly reduces energy consumption.
The problem with dipping is that it is very expensive to install and represents a considerable initial capital expense that not everyone can afford. In response to this, Canaan Creative, launched a revolutionary machine that self-regulates its temperature, not with air, but with mineral oil.
It is the „Avalon Immersion Cooling A1066“. With this equipment that mines up to 50 TH/s, important operating costs are saved, which could position Canaan close to its rivals in the market.
Among the most outstanding news of the week, the new Bitcoin mining machine launched by the manufacturer Canaan Creative stands out. The main quality of this ASIC is that it self-regulates its temperature with dielectric oil. Source: CanaanAmong the most outstanding news of the week, the new Bitcoin mining machine launched by the manufacturer Canaan Creative stands out. The main quality of this ASIC is that it self-regulates its temperature with dielectric oil.
Canaan Creative launched machine that self-regulates its temperature with liquid
Persecution of miners considered „illegal“ is intensifying in Iran
The authorities of the Islamic Republic of Iran, updated the numbers of „illegal“ farms closed since 2019. The total amounts to 1,620 Bitcoin mining centers. This is one of the most prominent news items because it sheds light on the deprivation suffered by the miners in that country.
The authorities of the Persian country, totally prohibit the private trade of crypto coins. This forces the miners to sell their bitcoins to the central bank exclusively at rates set by the financial institution. In addition, the electricity rates against the miners have been increased in a staggered manner.
Under these premises, many miners have chosen to go underground. In response, the government has implemented a $450 reward plan. These are given to people who help the authorities close down farms that are classified as „illegal“.
Illegal Bitcoin Mining Farms Continue to Fall in Iran
Giant Riot Blockchain became the first Bitcoin mining company to reach $1 billion in capitalization in December. It hasn’t been long since its rival Marathon emulated it on Wednesday, January 6. Two days later, Hive Blockchain joined the club.
Since last year 2020, the aggressive rivalry and competition between these Bitcoin mining companies has been in the news. These are joined by Core Scientific and other firms. These companies have considerably expanded their computing power to mine crypto currencies.
So strong has been the „arms race