Take a fresh look at your lifestyle.

Bitcoin Mining: 5 Highlights of the Week


During the last 7 days, the information related to the mining of Bitcoin and other cryptocurrencies did not stop highlighting important events. New ASIC equipment on the market, new regulatory laws and many more news came to light.

This is a busy week in terms of news. In this overview, we introduce you the selection of the 5 most important points related to Bitcoin mining.

It is important to highlight that, among the most important information on Bitcoin mining, the situation in Venezuela stands out. In that nation, a new regulatory framework has come to light, generating a heated debate between people who see it as a positive measure and those who consider it as an attempt to control the state.

These are the 5 highlights about Bitcoin mining

It should be noted that information about Bitcoin mining is abundant. However, in CryptoTendency, we present you a summary of the most notorious. These are the 5 news that set the tone:

  1. Control or guarantees to mine Bitcoin? controversial regulation in Venezuela.
  2. Canaan Creatives launches the 90T mining market.
  3. NVIDIA RTX 3090 card for mining Ethereum “like beast”.
  4. Canadian company will lease between 2 and 7 thousand Bitcoin mining machines.
  5. MicroBT will set up first overseas ASIC equipment factory.

Controversial regulatory law in Venezuela

One of the 5 pieces of information that marked the debate on Bitcoin mining in Latin America was the regulatory provision in Venezuela. Published last Monday, September 21 in Official Gazette number 41,969, it dictates a series of measures for compliance by miners.

Although in the Telegram forums and social networks, the miners did not express any position against paying taxes and submitting to a regulatory framework, or obtaining licenses, if they showed concern about article 19 of the providence.

It states that, Those who exercise Bitcoin mining and are not part of a national pool created by the State, will be sanctioned. Apparently, all miners will be required to connect their equipment to a pool of which no further details have been known.

The regulatory ruling for Bitcoin mining in Venezuela is one of the 5 most outstanding information of the week. Source:
The regulatory ruling for Bitcoin mining in Venezuela is one of the 5 most outstanding information of the week. Source:

Canaan Creatives presents its winning horse

The manufacturer of Bitcoin mining equipment, Canaan Creatives, entered the ranking of the most important information of the week for its new model. It is the first machine in the A12 series and whose name is AvalonMiner 1246.

This powerful equipment, which mines 90 TH / s, seems to be an attempt by the Chinese company to enter the strong competition. As explained in CryptoTrend, Western customers demand high-efficiency equipment, that is, they consume little energy and have high hash power.

In this sense, the champions are Bitmain and MicroBT. However, with this Avalon, Canaa Creatives is looking to earn a position. The efficiency of this new model is 38 J / Hs.

RTX 3090 is “a beast”To mine Ethereum

Recently in CryptoTrend, we offered information about a recent model of NVIDIA card. It was at that time, the GeForce RTX 3080, which would have a limited edition and a power to mine ETH not inconsiderable.

Less than a month later, the company announces that an even better model is close to hitting the market. This is the RTX 3090. When compared to previous editions like the RTX 2080, the differences are abysmal.

Thus, the RTX 2080 mines ETH with a power of between 30 and 40 MH / s. For their part, the RTX 3080 and 3090, do so at 80 and 120 MH / s, respectively. The controversy has not been absent. The high demand for these cards by miners will make it very difficult for anyone else to access them.

2,000 machines leased by Bitfarms

The Canadian company Bitfarms Ltd, announced that it will lease some 2,000 ASIC equipment from Blockfills. This is one of the 5 most important information on Bitcoin mining of the week, since it continues to set the trend of business expansion in the West.

With the addition of these 2,000 new Whatsminer M31S brand machines, the Canadian company will significantly increase its hashing power. According to estimates, it will amount to 360 PH / s.

At the same time, it was known that both firms concluded a non-binding agreement. It establishes that, according to availability, the number of mining machines could increase to 7,000 machines..

MircroBT opens ASIC manufacturing facility in the United States

In an attempt to continue taking ground away from Bitmain, the Chinese manufacturer of ASIC equipment, announced the creation of its first overseas plant. Now, US Bitcoin mining farms will be able to purchase MicroBT equipment without waiting weeks to receive it.

This is a move to capture the market in the United States and Canada. The same, as is known, is in full expansion stage to the same extent that that of China decreases.

It must be taken into account that the entry of these teams to the United States requires high taxes. On the other hand, manufacturing them there, in association with local companies, can mean one of the most important and innovative steps of the manufacturer.

Data to take into consideration

  • The ruling, published in the Official Gazette 41,969 of the Bolivarian Republic of Venezuela, would oblige miners to join a national pool.
  • The new AvalonMiner 1246 from Canaan Creatives, mine with 90 TH / s and has an efficiency of 38 J / Hs.
  • NVIDIA’s new GeForce RTX 3090 card will mine with power of about 120 MH / s, according to specialists.
  • Bitfarms’ lease of 2,000 ASICs from Blockfills could increase that number to about 7,000 units.
  • To complete the opening of the first ASIC equipment manufacturing plant in the US, MicroBT will partner with the New York firm Foundry Digital LLC.

Leave A Reply

Your email address will not be published.