mining

According to Reuters, Mexican authorities discovered an illegal cryptocurrency mining operation in a remote mountainous building in Tehuacán, Puebla, where 300 GPUs, 80 medium-voltage terminals, and 8 satellite antennas were found on-site. Authorities are investigating whether the operation is stealing electricity from a nearby hydroelectric power station.This is the fourth similar crypto farm discovered in the area since early last year, with three others found near a hydroelectric power station in northern Puebla last year. Local residents reported that the noise from the equipment can be heard from a kilometer away. Mexican security analyst David Saucedo stated that drug trafficking groups seem to have reached a new level of sophistication, as establishing such operations requires technical expertise and support from well-funded groups.Chainalysis Latin America expert Caio Motta pointed out that such operations are usually located in areas with extremely low electricity prices or within the reach of organized crime to steal electricity and establish large-scale mining infrastructure.

Zach Pandl, the research director at Grayscale, pointed out that Zcash, as a Bitcoin-like digital currency with privacy features, currently has lucrative mining profits. Although Bitcoin network miners earn about $35 million daily, far exceeding Zcash's approximately $2 million, the daily revenue per mining machine for Zcash is about twice that of Bitcoin, with revenue per megawatt-hour approximately four times that of Bitcoin, even surpassing some AI/high-performance computing cloud services.Driven by the strong performance of token prices, Zcash's overall mining activity has increased more than 2.5 times this year, forming a virtuous cycle of "price increase --- mining increase --- network security enhancement --- supporting price." Pandl believes that at the current valuation, Zcash mining remains attractive and continues to strengthen its network security.

Pine Analytics released the Zcash Q3 2026 report. Ironwood was activated on July 28 at block 3,428,143, and within five weeks, holders migrated 87% of their Orchard balance, with the new pool holding 3.84M ZEC as of August 31. The shielded supply increased by 9.9% to 4.86M ZEC, with the shielded ratio rebounding from 26.3% to 28.7%, recovering 440K from the 745K unshielded ZEC in June.The price of ZEC rose from $407 on June 30 to $836 on August 31, an increase of 106%. Grayscale ZCSH converted to a spot ETF, with assets growing from $155 million to $346 million. Mining difficulty rose by 35%, reaching an all-time high, with two corporate miners committing approximately $65 million in hash power. NU7 has no mainnet height yet, and holders will vote until September 14 to decide whether to launch before September 30 with a 25-second block time and smooth issuance; there are still 470K ZEC remaining in Orchard.

According to Decrypt, the Mexican federal prosecutor, in conjunction with the Navy and Puebla state police, conducted a raid on a property in the remote mountainous area of Tlaola, Puebla, seizing approximately 300 cryptocurrency mining machines, as well as transformers, medium-voltage terminals, and satellite internet antennas.The investigation revealed that the mining operation illegally tapped into the grid of the Nuevo Necaxa hydroelectric power station, and authorities have filed charges for "theft of electricity." Currently, forensic accountants are tracing the source of the hardware funding, and money laundering suspicions have not been ruled out. Data from the Mexican Federal Electricity Commission shows that from January to July 2024, non-technical electricity losses reached up to 6,346 gigawatt-hours, valued at approximately 13.8 billion pesos (about 817 million USD).

Bitcoin mining company CleanSpark (Nasdaq: CLSK) announced its unaudited operational data for the period ending August 31, 2026. In August, it mined a total of 593 BTC, with a cumulative output of 4,903 BTC for the year. The operational hash rate reached 50 EH/s, with an overall energy efficiency ratio of 16.07 J/Th, and the total contracted power capacity was 1.8 GW (with 808 MW already utilized).In terms of treasury, its total Bitcoin holdings as of the end of August were 13,703 BTC. In August, it sold a total of 821 BTC through spot sales, call option exercises, and delta-neutral basis trading, achieving an average realized price of $65,420. CleanSpark is accelerating the construction of its high-performance computing data center in Sandersville, Georgia, which has signed long-term lease agreements totaling $6.6 billion with high-rated technology tenants for 20 years.

Quantus founder and CEO Yuvi Lightman posted on X that the anti-quantum blockchain Quantus mainnet will go live on September 9 (Wednesday). The only way to acquire tokens at the launch is through mining, and liquidity and tradability will be available a few weeks later.The team has merged Immunefi security work into the public code repository and completed all fixes from the audit competition. The chain supports ML-DSA-65 and ML-DSA-87, binding each signature to its context according to FIPS 204 standards, failing and closing multi-signature transactions that cannot be decoded, and strengthening the network stack to resist denial-of-service attacks. The team has completed a full-process drill on the global rehearsal mainnet covering the Americas, Asia, Europe, and Australia, producing signed binaries through an automated pipeline, deploying multi-region bootnodes and dedicated RPC nodes as infrastructure as code, and reducing indexer memory usage from over 90% to about 26%.In addition, Quantus has launched a registration page, completed a website redesign, Keystone hardware wallet supports multiple accounts, and released CLI v2.1.3 and miner v4.0.2. Quantum & Privacy Day will be co-hosted with NEAR in Singapore on October 8, coinciding with Token2049.

The town of Plattsburgh, New York, held a public hearing to discuss a temporary land use moratorium on "high energy consumption computing facilities" such as cryptocurrency mining and AI data centers. If the proposal is approved, it will pause the approval of related operational applications that consume 300 kilowatts or more for 12 months. As of Tuesday, the mayor has not yet approved the moratorium, and the city council plans to meet again on September 17.Plattsburgh is one of the first areas in the United States to implement a ban on Bitcoin mining, having enacted an 18-month moratorium in 2018 due to residents' concerns about electricity costs. Now, with rising mining difficulty, increasing electricity costs, and falling token prices, many cryptocurrency mining companies have turned to AI and high-performance computing, prompting local governments to reconsider restrictions on high energy consumption facilities.

According to PR Newswire, Canaan Inc. (NASDAQ: CAN) announced its unaudited financial results for the three months ended June 30, 2026. Total revenue for the second quarter was $31.9 million, down from $62.7 million in the first quarter and $100.2 million in the same period of 2025, with product revenue of $13.6 million, mining revenue of $17.7 million, and other revenue of $600,000.Cost of revenue for the quarter was $61.2 million, resulting in a gross loss of $29.3 million, operating expenses of $40.1 million, an operating loss of $69.5 million, and a net loss of $97.6 million. Non-GAAP adjusted EBITDA loss was $74.9 million. Loss from changes in the fair value of cryptocurrencies was $9.3 million, impairment of property, equipment, and software was $9.2 million, and total inventory write-downs, prepaid expense write-downs, and inventory purchase commitment reserves amounted to $25.3 million.The company's self-operated installed mining capacity (non-joint venture) was 10.05 EH/s, an increase of 23.3% year-over-year, with an all-in electricity cost of approximately $0.043 per kilowatt-hour, mining 243 bitcoins during the quarter. Cryptocurrency reserves reached 1,915 bitcoins and 3,952 ethers. As of September 8, 2026, the company repurchased approximately 16.4 million ADS for a total of $7.4 million. The ABC project holds a 49% stake, with an installed capacity of 4.85 EH/s as of the end of July 2026.

Cobo co-founder and CEO Shen Yu recalled that he has a deep shadow over ZEC. When ZEC's mainnet launched in 2016, BitMEX set the price ceiling at 10 BTC, which also became the historical high point for ZEC.He stated that shortly after starting to mine on the night of the launch, the transformer of the GPU mining farm was struck by lightning, and since then, ZEC has not appeared in his personal wallet again.

According to the official announcement, Bitget has launched the pre-market perpetual contracts for retail users, H100 and B200, which are linked to the rental price index of NVIDIA H100 and B200 GPUs, respectively, quoted in USD per GPU hour.Bitget's pre-market perpetual contracts further extend the trading targets into the AI computing power field. By tracking the GPU rental market index price, users can participate in the price discovery of global GPU rental prices and the AI infrastructure market in advance, capturing potential trading opportunities brought by changes in demand for high-performance GPUs such as H100 and B200. The product adopts a perpetual contract model settled in USDT, supports up to 10x leverage, and allows trading 24/7.

According to Bitcoin.com, the Swedish Tax Agency has issued tax reassessments and fines totaling approximately $56.5 million (around 540 million Swedish Krona) to six cryptocurrency mining companies in Boden, accusing them of disguising their mining operations through complex corporate structures and illegally obtaining tax benefits for data centers.This enforcement action stems from a comprehensive industry audit covering 2024 to 2026, with a total of nine mining companies nationwide being pursued for over $50 million in taxes, with the six companies in Boden accounting for the vast majority. Among them, Bikupan Datacenter, a subsidiary of Hive Digital, has initiated financial restructuring due to its inability to pay taxes and has appealed the tax ruling to the Supreme Administrative Court. A previous investigation by the public broadcaster SVT Norrbotten revealed that cryptocurrency mining companies have caused the Swedish government to lose approximately $100 million in tax revenue.

The cryptocurrency exchange Bitfinex posted on X that the Bitcoin miner position index is currently -1.2, well below its annual average.Miners are holding supply, even though the breakthrough in August briefly pushed it up to 2.8. An index above 2 means that miners are selling again, and current selling activity is relatively sluggish.

According to Lookonchain monitoring, 7 miner wallets transferred 350 bitcoins 6 hours ago, worth 28 million dollars. These bitcoins were obtained by the aforementioned miners through mining in March 2010.

According to The Block, Bernstein expects that the Bitcoin mining company IREN will achieve an annual revenue of $17 billion from its AI cloud business by 2030, at which point cloud capacity will expand to approximately 2 gigawatts.Bernstein anticipates that IREN will cease its Bitcoin mining operations by the end of 2026 and notes that the pricing for three-year AI cloud contracts has increased by about 125% since last November.

The U.S. publicly traded company Hyperscale Data has terminated all Bitcoin mining operations at its Michigan facility to convert the site into infrastructure for artificial intelligence data center clients. The company stated on Wednesday that all Bitcoin mining machines in the facility have been shut down following an inspection by an unnamed California neocloud provider, and plans to sell the related mining equipment.Hyperscale Data stated that the client has signed a 10-year master service agreement, contracting 20 megawatts (MW) of AI computing power, with two optional extensions of 5 years each. The company estimates that this agreement could generate over $1.2 billion in revenue over the maximum 20-year term, and if the client exercises an additional 32 MW option, potential revenue could exceed $3 billion, while the site is expected to ultimately support 340 MW. However, the company also cautioned that its expansion plans are still in the preliminary stages and depend on financing, approvals, and other risks.Meanwhile, Hyperscale has significantly reduced its Bitcoin holdings to fund AI construction. Affected by the company's completion of a four-for-one reverse stock split and other factors, its stock price closed at $0.1984 on Wednesday, down about 17%, marking a record low adjusted for the stock split. According to BitcoinTreasuries.NET data, the company currently holds approximately 215 Bitcoins, valued at about $16.7 million, a decrease of about 79% from around 1,006 at the end of July, ranking 84th among publicly traded companies tracked on the platform.

According to Bitcoin News, the Bitcoin mining pool OCEAN has officially stopped supporting the BIP-110 fork chain, citing limited mining activity and the transition to the Blake2b proof-of-work mechanism. OCEAN stated that it will not adopt or support the BIP-110 hard fork and will not continue to pay BIP-110 block rewards.The BIP-110 chain stalled after the user-activated soft fork attempt failed on August 8, and the mining rewards post-fork became unusable due to not reaching 100 confirmations. OCEAN stated that these rewards have been permanently frozen at BIP-110 block 961,639. Miners hoping to continue supporting BIP-110 have been directed to CONVOY Mining, which plans to support the Blake2b hard fork and continue the BIP-110 share record.

Rapha Zagury, CEO of Twenty One Capital and founder of Elektron Energy, stated during his speech at Bitcoin Asia 2026 that the Bitcoin network is experiencing its first-ever bear market in hashrate. The hashrate of the Bitcoin network was close to 1.3 ZH/s at the end of last year, but has since been slowly declining, with the duration of this decline from the historical peak now setting a record. Zagury believes that Bitcoin mining is not simply a "good business" or "bad business"; it largely depends on where the mining company stands on the cost curve. Mining companies with lower energy costs and higher machine efficiency can maintain higher profit margins, while those with high energy costs and low equipment efficiency may be forced to shut down.Currently, while the Bitcoin hashrate price has improved compared to before, it is still at a relatively low level when measured against historical standards. When the price of Bitcoin rises faster than the growth of the network's hashrate, mining is more likely to outperform BTC. For companies, he believes that the best risk-adjusted allocation is not simply choosing to "buy BTC" or "mine," but rather a combination of both; however, if only $1 can be allocated, he suggests prioritizing the purchase of BTC. Regarding energy issues, Zagury stated that energy consumption itself does not imply waste; energy is the foundation of economic development and human progress. He believes that one of the greatest characteristics of Bitcoin mining is its highly flexible load, as mining machines can quickly turn on and off based on energy supply, thus helping the grid absorb idle or surplus electricity and enhancing grid stability to some extent. Additionally, he believes that Bitcoin mining is generating "option value" that was not previously apparent, including aspects such as energy utilization, market share, proximity to the Bitcoin protocol, and infrastructure. With the growing demand for AI and high-performance computing (HPC), the existing energy and data center infrastructure of mining companies may also gain additional application scenarios such as AI computing power. Currently, among large publicly listed mining companies, there are fewer and fewer that can continue large-scale Bitcoin mining, and the industry is at a critical stage where the energy revolution intersects with the Bitcoin revolution.

Luke Dashjr, who has been engaged in Bitcoin development for a long time, has exited the mining pool Ocean, resigning from his positions as Chairman, Chief Technology Officer, and Director. The parent company Mummolin has repurchased all of his shares. Both parties stated that this separation was mutually agreed upon, stemming from differences regarding the future direction of Bitcoin mining and recent developments in agreements.Dashjr is a co-founder of Ocean and will establish a new mining project called Convoy after his departure. Ocean stated that it will continue to operate its transparent, non-custodial mining pool, directly paying mining rewards to participating miners.This departure occurred after he took a few weeks off due to the failure of the BIP-110 proposal. BIP-110 is a controversial proposal aimed at limiting the storage of non-financial data on Bitcoin.

According to the public account of Power Heart, Bitmain released two new water-cooled mining machines at the World Digital Mining Summit (WDMS) in Hong Kong: the flagship model S23 XP Hyd has a computing power of 600 TH/s, an energy consumption ratio of 8.9 J/T, a total power consumption of 5,340W, and a futures price of $25.5/T (total machine $15,300), expected to be delivered from November 2026 to January 2027.The 2U rack-mounted water-cooled mining machine S23e U2H, adapted for standard IDC cabinet modifications, has a computing power of 865 TH/s, an energy consumption ratio of 10 J/T, a promotional price of $11/T, and a total machine price of $9,515.