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October 25, 2022
Subscribe to Mining Memo
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Mining Market Update
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| Price |
$19,494 |
▲1.5% |
| Hashrate |
259 EH/s |
►0% |
| Difficulty |
36.8 T |
▲3.44% |
| Revenue* |
$0.0667 |
▼5% |
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Public bitcoin mining companies are facing delistings as the bear market worsens
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Bitcoin continues trading more than 70% below its latest all-time high, only making bear market conditions progressively worse for Bitcoin mining companies.
Some miners are selling thousands of machines to strengthen their balance sheets with more cash. A couple companies are selling their bitcoin reserves, liquidating more
bitcoin than they actually each month. Others are engaged in lawsuits . Some bitcoin public mining teams are facing delisting
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That last aspect of the current market is perhaps the most notable, given the novel nature of publicly listed mining firms.
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Digithost, a mining company that currently trades on the Nasdaq. As reported by The Block October 16, the company received notice of possible delisting and has 180 days for its share price to increase otherwise it risks delisting.
- Bit Mining, a mining company that trades on the New York Stock Exchange (NYSE), also received a letter in late July noting its failure to comply with the price criteria for listing standards due to trading below the $1 mark.
- Mawson, a public mining company that trades on the Nasdaq, received price-related notice of potential delisting in late August.
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Continue reading here.
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How new accounting regulations might help crypto investors
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The popularity of cryptocurrencies has increased significantly since their inception in late 2008, in the wake of the global financial crisis. Yet, from an accounting viewpoint they never readily fitted easily into a financial reporting structure.
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Get tickets today for the Texas Blockchain Summit!
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The Texas Blockchain Summit is back in Austin, Texas, Nov 17-18! The premier event will bring policymakers, Bitcoin miners, and recognized influencers to discuss Bitcoin, blockchain and crypto space.
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Mining News Feed
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CoinDesk / Struggling Bitcoin Miners Are Flocking to Maple Finance’s $300M Lending Pool
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Canaan / Canaan Inc. Launches New Generation of Bitcoin Mining Machines
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The Block / Block is on a Bitcoin mining and wallet hiring spree
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CoinDesk / Core Scientific Again Raises Bitcoin Mining Hosting Rates
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| Bitcoin has traded in a tight range around $20,000, forming a similar pattern experienced during the the previous bear market at $6,000 before a dramatic 50% plunge to $3,000 in November-December 2018. |
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Got hashrate? A new over the counter (OTC) product from Luxor enables investors to buy and sell hashrate from counterparties with ease. We dig into the specifics with Luxor Technologies Head of Derivatives Matthew Williams.
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Watch on YouTube here.
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| Argo Blockchain |
16.33% |
$12.29 |
$155.00 |
| CleanSpark |
9.76% |
$2.95 |
$23.60 |
| Core Scientific |
8.0% |
$0.84 |
$14.98 |
| Hut 8 |
6.3% |
$1.95 |
$16.57 |
| Hive Blockchain |
2.93% |
$3.12 |
$28.00 |
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*As of Tuesday, October 25th
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About Compass: Compass is a Bitcoin mining and modern media company focused on driving the mass adoption of cryptocurrency mining.
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