Bitcoin mining in the United States and China: China completely banned the United States 24h two mining companies NASDAQ listing

Bitcoin mining is on ice in China, while some states in the U.S., the world’s leading G2 country, are massively welcoming bitcoin mining.

On June 18, 2021, the Sichuan provincial authorities officially issued a notice requesting power generation enterprises to investigate and correct themselves, immediately stop supplying power to virtual currency “mining” projects, and implement national cleanup requirements without fail.

After the central level issued a “crackdown on bitcoin mining” requirements, Xinjiang, Inner Mongolia, Qinghai, Yunnan, Sichuan, the main bitcoin mining distribution has been all cleaned up after the bitcoin mining policy.

This means that large-scale bitcoin mining will basically have no place in China, and bitcoin mining is on ice in China. And as the world’s leading G2 country, some states in the US are massively welcoming bitcoin mining. This may bring us some reference and insight.

North American Bitcoin Mining Listed Companies
According to Golden Finance’s incomplete statistics, there are at least 5 bitcoin mining companies located in North America and listed in the North American capital market.

Marathon Digital Holdings (MDH)

Marathon Digital Holdings was formerly known as Marathon Patent Group. It was founded as a patent holding group in the early 2010s. Now Marathon is a major bitcoin mining company and bitcoin holder.

Marathon Digital Holdings purchased the Hardin Generating Station in Montana in 2021, which generates 107MW of electricity to power bitcoin mining.

Bitcoin mining in the United States and China: China completely banned the United States 24h two mining companies NASDAQ listing

Hardin Generating Station, Montana

The company currently holds 5,518 bitcoins, of which 4,812.66 were bought by the company in January 2021 at an average price of $31,168, with the rest coming from its mining activities.

Hut 8 Mining Corporation

Hut 8 is a Canadian-based mining company. As of today, Hut 8 holds 3,233 bitcoins.

Almost all of Hut 8’s bitcoins are mined from their own mining farms. According to a press release issued by Hut 8 in February 2021, Hut 8’s mine in Alberta reached 1,073P of computing power and increased its power capacity to 109 MW, making Hut 8 the second largest bitcoin mine in terms of installed capacity among publicly traded companies in the Western Hemisphere.

Riot Blockchain

Riot Blockchain is a publicly traded company focused on bitcoin mining. They also mine most of their bitcoins directly themselves.

Riot is growing rapidly and plans to deploy another 7,500 S19 Pro’s by the end of June 2021. this is expected to increase Riot’s computing power to 2.51E with a projected power consumption of 79.5MW.

On May 26, 2021, Riot acquired Bitmainland’s Rockdale, Texas-based mine, Whinestone US. Whinestone is the largest bitcoin mine in North America.

Bitcoin mining in the United States and China: China completely banned the United States 24h two mining companies NASDAQ listing

Riot Acquires the Bitmain Built Whinestone Mine

Bitfarms Limited (Bitfarms)

Bitfarms Limited is another Canadian-based bitcoin mining company whose shares are traded on the Canadian BFARF OTCMKTS.

In January 2021, Bitfarms began a Bitcoin inventory pilot program. Through the program, Bitfarms has added the vast majority of its mined bitcoins to its balance sheet. in May 2021, Bitfarms mined its 1,000th bitcoin, bringing its total holdings to 1,006 bitcoins. By June 9, Bitfarms added another 108 bitcoins to its balance sheet, bringing its total to 1,114. Notably, almost all of the bitcoins mined by Bitfarms come from hydropower.

Bitfarms CEO Emiliano Grodski recently stated, “Benefiting from Chinese regulation, Bitfarms is experiencing its fastest growth rate ever this year. Bitfarms is expected to more than double the installed computing power between now and the end of the year.”

Just yesterday (June 17, 2021) Bitfarms announced that its shares will be listed and traded on NASDAQ on June 21, 2021.

Bitcoin mining in the United States and China: China completely banned the United States 24h two mining companies NASDAQ listing

Hive Blockchain

HIVE Blockchain Technologies is based in Canada and has been publicly listed on the SX Venture Exchange (TSX.V) since 2017. In January 2021, HIVE BlockChain announced the purchase of 6,400 AvalonMiner 1246 units, which are expected to be delivered in eight lots in 2021. Hive Blockchain said it expects to increase its total computing power to 1,229P by the end of 2021.

Just today (June 18, 2021), Canadian listed miner Hive Blockchain announced that it has received approval from NASDAQ to list its common shares for trading on NASDAQ.

This means that within 24 hours Nasdaq approved 2 bitcoin mining companies’ applications for listing and trading.

Some U.S. State Policies: Welcome Miners
The United States is a federal state with no uniform policy when it comes to bitcoin mining, and there is competition between states, so there are always crypto mining friendly states that are popular candidates for bitcoin mining. Examples include Texas, Wyoming, and Florida.

The energy powerhouse state of Texas has cheap energy and is a prime candidate for many bitcoin mines, such as the Whinestone mine built by Bitmain above, which is the largest bitcoin mine in North America.

And Wyoming and Florida are both friendly to blockchain and cryptocurrency.

Back on January 19, 2019, Wyoming introduced a bill that would divide crypto assets into three categories: digital consumer assets, digital securities and virtual currencies. Any of the assets in these three categories are defined as intangible personal property. This means that Wyoming has legislated to recognize virtual currencies as intangible personal assets and put them on the same legal footing as legal tender. on March 12, 2020 Wyoming Governor Mark Gordon signed into law that the state’s insurance companies will be able to invest in bitcoin and cryptocurrencies starting on July 1, 2020.

The state of Florida has to mention its second largest city, Miami, which just hosted the world’s largest bitcoin conference earlier this month, and its mayor Francis Suarez recently even said that Miami’s doors are open to Chinese miners and is willing to provide cheap nuclear energy to support mining practices. Francis Suarez is in talks with Florida Power and Light to find ways to further depress electricity prices, and is also considering other incentives, such as a corporate campus dedicated to crypto mining.

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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