Bitcoin Mining Stage Roundup for Bitcoin Conference Miami 2022
Meta-Luban
Meta-Luban's latest mining-related information blog
By Alan Chen | 19 April 2022 | 0 Comments

Bitcoin Mining Stage Roundup for Bitcoin Conference Miami 2022

 One of the most exciting Crypto annual gatherings has to be the Bitcoin conference in Miami. We saw some enormous announcements for bitcoiners. The event is the 3rd annual conference, with more than 30000+ audiences attending, tremendous energy growth, and diversified professional speakers from various industries joining the event.
 
The team of Meta LB is proudly presented on Industry Day, and the crew would like to thank all visitors for checking the booth.
 
Some Photos of Meta LB in Bitcoin Miami 2022

About Meta LB

Metaverse Luban is a globalized platform of supercomputing servers, aiming to build a perfect mining ecosystem and provide comprehensive mining services for global miners.
 
The platform offers services related to mining machines, including trade, maintenance, operation support, news, evaluation, accessories, finance of the supply chain, etc. The mission is ‘Make mining easy.’
 
In terms of sourcing, the platform maintains a close relationship with head manufacturers in this area, such as Bitmain, MicroBT, Canaan, and Innosilicon, and its annual procurement amount ranks among the top in the industry.
 
If you like to request an inventory list, feel free to email:[email protected]
 
For more info about the team.
Besides, Meta LB operates one of Shenzhen's most extensive testing & repairing centers. There are widely connected and professionally trained ASIC machines technicians in-house. It is also Avalon's officially authorized maintenance center. If you are looking for repairs, maintenance and customization works on ASIC rigs, contact [email protected]
 

Let's recap some insights into the specific Bitcoin Mining stage for this event. As Bitcoin miners, either direct operators or investors, it is necessary to keep up with the latest state of bitcoin mining that might help you pivot or adjust your strategy or execution.

Blockstream, Block Inc, and Tesla join Bitcoin Mining together in Texas

Jack Dorsey's Block Inc. (SQ) and crypto firm Blockstream Corp are working together to build a Bitcoin mining farm with Tesla Inc. (TSLA)'s solar-
the powered battery in Texas.
 
The mining farm will tap into Tesla's energy storage technology with large-scale rechargeable batteries at the site, Adam Back, chief executive of Blockstream.
 
We are seeing public Big Tech companies joining operations of Bitcoin mining. Although it is a factor that Bitcoin spot's correlation with Big Tech increased to a record high of 0.69, it seems to be less diversified with the big tech stock market.
 
Jack planned and promised to decentralize bitcoin mining (we haven't seen what the plan is about yet), and in the meantime, miners flock to the central-western part of Texas because of the availability of wind and solar energy. So we would be expecting a 100 megawatts plus energy site to up for the join mining. Hypothetically, if it runs entire operations with S19J 100T, that sums at least 3 EH to the network hash rate.

Bitcoin Miner Marathon Digital Open to Sale at Right Valuation

Marathon Digital Holdings (NASDAQ: MARA) market cap of 2.9B. Next year, forecasts will contribute 10% of the total bitcoin network hash power. It is believed that energy/power companies to eventually consolidate the bitcoin mining industry because of the in-house electricity cost advantage. Acquiring a large miner firm is one of the most direct ways energy firms can scale up. Therefore, it is taking consideration for sale for the right premium price.

"Energy companies are going to be the companies that at the end of the day consolidate the industry."

New ASIC miners announcement

Bitmain, the manufacturer of Antminer, confirmed that S19 XP 140T would be shipping soon. (Near July batch)
 
MicroBT announced its new Bitcoin miners featuring 5nm processors that achieve superior efficiency.
 
The models are Whatsminer M50, M50, and M53, with a hashrate of
  • M50: 114 TH/s (29 J/T)
  • M50: 126 TH/s (26 J/T)
  • M53: 226 TH/s (29 J/T)
Canaan, new Bitcoin Mining Rigs A12 Series
the manufacturer of Avalon miners, released a new model:
A1266: 100TH/S 3500W (35 J/T)

Intel has launched the Intel Blockscale Bitcoin ASIC model, with a power efficiency of 26 J/T. Shipments is expected for the 2022 fall.
 
With more companies coming up the ASIC machines market, we should envision the ASIC machine towards a more fair trading pricing and better transparency.
 
If you are interested in procuring any of the above machines, feel free to contact Meta LB directly for a quote update.

Mining Pool distribution

With the Bitcoin miners' migration to North America, the United States-based mining pool quickly absorbed the hash rate.
 
Foundry USA pool surpasses 40EH in the Bitcoin network, occurring at about 20%. In addition, it is leading the mining pool operation distribution.
Besides the mining pool distribution, the Bitcoin hash rate controlled by public listed companies has jumped to almost 19%. These public listed companies are primarily United States-based.

ESG Disregarding

The narrative of “ESG" peaked in 2021 and is now fading away. The Bitcoin mining industry is constantly driving the innovation of renewable energy adoption. Vertical integration with the energy and resource industry is becoming mainstream. In a recent TED talk interview with Elon Must, he is optimistic about environmental issues will be solved by humanity. (Ref Link: https://www.youtube.com/watch?v=YRvf00NooN8 )

19 Million mined

On 2022-04-01 at 23:23:39 UTC, 19 million BTC out of 21 million (90%) were mined.
 
Binance Pool mines the very 19000000th BTC.

 

Lightning Network Infrastructure Making Bitcoin Transfer Faster and Cheaper

Bitcoin is global, and the Internet is global. Therefore, the adoption of Bitcoin payment drives Bitcoin to become the Internet of Money.
 
Strike has partnered with Shopify.
 
Jack Mallers from Strike announced Lightning Network payment across stores in the US, including Mcdonald's and Walmart. Merchant will be able to receive Bitcoin instantly without the KYC of customers.
 
"Strike has partnered with major alternative payment provider Blackhawk Network, 400,000 storefronts, 37,000 partners" - Jack Mallers.
 
The narrative in the event is that demand is up while the supply remains when adoption is up. So it could be an alpha signal in the long run. Making Bitcoin is a go-to payment adoption, not just a store of value utility.
 

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