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Blockchain Press Releases

CleanSpark Acquires 4.4 EH/s of New Antminer S21 Bitcoin Miners; Expects to Achieve Hashrate of over 20 EH/s

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The machines, the most efficient to ever hit the market, are expected to start arriving in January 2024

CleanSpark’s mining fleet is expected to average 23.5 joules per terahash (J/TH) once all machines are deployed

LAS VEGAS, Oct. 11, 2023 /PRNewswire/ — CleanSpark Inc. (Nasdaq: CLSK), America’s Bitcoin Miner™, today announced it has purchased 4.4 exahashes per second (EH/s) of the recently announced Antminer S21 bitcoin mining machines. The acquisition continues CleanSpark’s track record as one of the largest, most efficient publicly traded bitcoin miners in North America.

With an efficiency rating of 17.5 joules per terahash (J/TH), the S21 is nearly 20% more efficient than the XP, which had previously been the most efficient bitcoin miner available in the market.

“Integrating the S21 into our mining operations is in line with our commitment to using the most efficient mining technology,” said Zach Bradford, CEO. “The efficiency of the S21 should not only increase our capacity but should also drive down energy costs per bitcoin mined, enhancing our competitive edge within the global mining landscape. Importantly, our scale has positioned us with strong bitcoin production at solid margins, and as a result we expect to fund the majority of the purchase through operating cashflows.”

The machines, with deliveries set to begin in January 2024, were purchased with favorable terms, including 20% seller-based financing of the total purchase price ($12.35 million or $2.80/TH), which is not due for 365 days after the machines are delivered. The new machine is expected to continue to reduce power consumption per bitcoin mined, thereby improving the Company’s margins while supporting its dedication to being wise stewards of the energy it consumes.  

Once all machines are installed and hashing, the Company expects to reach an operational efficiency of 23.5 joules per terahash for a 17.25% improvement over CleanSpark’s already above-average operational efficiency of 28.4 joules per terahash.

CleanSpark continues to rank among the top in terms of hashrate realization rate of publicly traded bitcoin mining companies.

About CleanSpark

CleanSpark (Nasdaq: CLSK) is America’s Bitcoin Miner™. We own and operate data centers that primarily run on low-carbon power. Our infrastructure responsibly supports Bitcoin, the world’s most important digital commodity and an essential tool for financial independence and inclusion. We cultivate trust and transparency among our employees and the communities we operate in. Visit our website at www.cleanspark.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. Forward-looking statements contained in this press release include, but are not limited to, statements regarding increases in our capacity, reductions in power consumption and energy costs per bitcoin mined and margin improvements expected to result from our purchase of the Antminer S21  bitcoin miners, statements regarding sources of funds for the purchases and other statements regarding future results of operations and financial position, industry and business trends, business strategy, expansion plans, market growth and our objectives for future operations.

The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the performance of the Antminer S21 bitcoin miners; the timing for the arrival and installation of those miners; the risk that the electrical power available to our existing or new facilities does not increase or become available as expected; fluctuations in the costs of that electrical power; the success of its digital currency (bitcoin) mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate; increasing difficulty rates for bitcoin mining; bitcoin halving; new or additional governmental regulation; the anticipated delivery dates of new miners; the ability to successfully deploy new miners; the dependency on utility rate structures and government incentive programs; dependency on third-party power providers for expansion efforts; the expectations of future revenue growth may not be realized; and other risks, uncertainties and other factors described in the Company’s prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K and any subsequent filings with the SEC. The forward-looking statements in this press release are inherently uncertain and investors are cautioned not to unduly rely upon these statements.

You should read this press release with the understanding that our actual future results, performance and achievements may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. These forward-looking statements speak only as of the date of this press release. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise.

Investor Relations Contact
Brittany Moore
702-989-7693
[email protected]

Media Contact
Eleni Stylianou
702-989-7692 
[email protected]

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Cision View original content:https://www.prnewswire.co.uk/news-releases/cleanspark-acquires-4-4-ehs-of-new-antminer-s21-bitcoin-miners-expects-to-achieve-hashrate-of-over-20-ehs-301953173.html

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Blockchain Press Releases

Bitrue Gears Up for 2024 Bitcoin Halving with Trading Competition

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SINGAPORE, April 12, 2024 /PRNewswire/ — Leading cryptocurrency exchange Bitrue unveiled a new competition available to all users on the platform that comes with a total prize up to $850,000 USDT in a recent X announcement.

The contest is being held in honor of the much anticipated Bitcoin Halving – an event that occurs once every four years to regulate the supply of new BTC entering the digital asset economy, and helps ensure long-term value through scarcity of supply.

The competition will rank traders according to their trading volume on the exchange during the contest period. The competition begins on Thursday April 11th and will continue until the halving event occurs (estimated April 20th). The prizepool will increase according to the number of valid participants in the competition, with the grand prize winner set to take home 25% of the total reward (212,500 USDT). All participating users will have a chance to win prizes regardless of their final rank.

With all eyes on this historic event, Bitrue is thrilled to be able to offer an exciting and rewarding way for its 10 million users to mark the occasion and provide them with an opportunity to earn a life changing amount of money. Interested parties should sign up on the Bitrue exchange now in order to be ready for when the contest goes live on April 11th.

About Bitrue

Launched in July 2018, Bitrue is a diversified digital exchange that supports trading, loans and investments. Bitrue aims to utilize blockchain technology to bring financial opportunities to everybody regardless of their location or financial position. It has offices in Asia and Europe, and continues to develop new features at a rapid speed to fully service the new wave of the digital economy. More information is available at Bitrue’s website.

Logo – https://mma.prnewswire.com/media/2385358/Bitrue_BitrueOfficial_Bitrue_Logo.jpg 

Cision View original content:https://www.prnewswire.co.uk/news-releases/bitrue-gears-up-for-2024-bitcoin-halving-with-trading-competition-302115311.html

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Financial industry bodies defend permissionless blockchains against Basel Committee’s classification

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Five financial industry bodies have pushed back against the treatment of permissionless blockchains by a global banking supervision authority.

In December, the Basel Committee on Banking Supervision (BCBS) published a report on proposed amendments to bank capital requirements for digital assets, stablecoins, and tokenized assets.

The report classified all permissionless blockchains as high-risk, claiming that some risks could not be mitigated through existing solutions. BCBS was particularly concerned about banks’ lack of control over third parties who conduct most operations on these blockchains. It also warned about their privacy, finality, liquidity, and political, legal, and policy risks.

In response, five global financial industry regulators have defended permissionless blockchains. In a joint response, they stated that the industry “has all necessary expertise and robust compliance frameworks to fully identify, manage and mitigate these risks.”

The five are the International Swaps and Derivatives Association, the Global Financial Markets Association, the Institute of International Finance, the Futures Industry Association, and the Financial Services Forum.

Blockchain’s application in the financial industry is evolving, and regulators must not disincentivize banks from exploring the technology, the regulators stated. By putting up unnecessary hurdles, the BCBS would only push these institutions to the non-regulated shadow banking space, which would be riskier for them.

The regulators further noted that dozens of global banks have conducted successful pilots using permissionless blockchains. These pilots have shed more light on the technology’s application and allowed them to understand and control emergent risks.

The BCBS approach is unfair to blockchain and veers away from the regulator’s long-held “same asset, same risk” approach, they added.

“While we acknowledge that risk mitigation techniques are evolving for permissionless crypto assets…we are confident that solutions already exist in respect of specific use cases,” the five stated.

They believe deciding whether to build on permissionless blockchains should be left to the banks.

The financial sector has been a leader in blockchain adoption, with some, like JPMorgan (NASDAQ: JPM), developing their own permissioned networks, albeit unsuccessfully. However, most have relied on existing solutions to build applications spanning settlement, bond issuance, tokenization, etc.

Source: coingeek.com

The post Financial industry bodies defend permissionless blockchains against Basel Committee’s classification appeared first on HIPTHER Alerts.

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Partnership between Siren and Chainalysis to trace blockchain transactions and disrupt illicit activities

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Siren, the all-in-one investigation platform company on a mission to keep people, assets and networks safe, and Chainalysis, the blockchain intelligence platform, announced details of a strategic partnership at the annual Chainalysis Links event in New York.

As cryptocurrency becomes more mainstream and used by both good and bad actors, the partnership addresses the increasing need for more sophisticated intelligence technology to fight illicit cryptocurrency activity.

Chainalysis’ mission
Many believe cryptocurrency is the future, and it is expected that blockchains will soon be the world’s primary mechanism for the exchange of value. Chainalysis’ mission is to build trust in blockchains, setting the stage for the mass adoption of crypto in a way that gives participants safety and security.

Its data powers investigation, compliance, and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases and grow consumer access to cryptocurrency safely.

AI-driven search functionality

Siren is an AI-driven investigative intelligence platform that is used by some of the world’s pioneering Law Enforcement, National Security and Cyber threat investigators. Siren connects and enriches local classified information with external vendor data as well as data available from public sources to identify patterns, actors and events.

Siren’s AI-driven search functionality dramatically reduces the complexity in searching for intelligence-like browsing the internet or shopping online anyone can search for intelligence links, regardless of technical abilities, across multiple data sources and get immediate results on both desktop and mobile devices. Using patented technology, Siren delivers a modern search experience at enterprise speed and scale, making advanced intelligence queries accessible to all across the organisation.

Chainalysis Investigations solution

Through the collaboration, illicit activity is easier to identify in real-time across multiple data sources, including Chainalysis’ on-chain data, allowing investigators and analysts to map addresses to named services, detect illicit activity as it happens, and build cases.

The Siren platform leverages the Chainalysis Investigations API (IAPI), part of the Chainalysis Investigations solution. The Investigations API is a REST-based API that programmatically helps to prioritise and accelerate investigations. This ensures investigation teams can focus on the most important cases with the highest likelihood of success. The IAPI enables data engineers and scientists to enrich existing datasets with Chainalysis insights to enhance large-scale investigations, surface new leads, and uncover previously unknown connections between different cases for deconfliction.

New York at Links 2024
John Randles, CEO of Siren, said: “Linking to crypto across multiple data sources is pivotal for investigators. We’re delighted to announce the partnership here in New York at Links 2024. We were lucky to attend a couple of Chainalysis events last year and experience first-hand how the synergies in our offerings and missions.”

John Randles will speak on Day Two of Chainalysis Links 2024 on the Intersection of AI and Crypto panel. Shannon Hughes, Senior Director, Head of Business Development and Partnerships commented: “Cryptocurrency is no longer just a niche specialty for elite cyber law enforcement units – our customers find connections to crypto across national security, crime, fraud, and cyber threats. This partnership enables investigators to combine Chainalysis data with other data sources to identify intelligence signals and actionable leads across specialties. This is the future of harnessing the transparency of blockchains to build a safer economic system.”

Source: sourcesecurity.com

The post Partnership between Siren and Chainalysis to trace blockchain transactions and disrupt illicit activities appeared first on HIPTHER Alerts.

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