Hi everyone,

In this newsletter, we summarize some of the big events from this week. Subscribe to get it straight in your inbox.

Here's what happened in the world of mining this week:

• CleanSpark making their mark in Georgia

• Iris Energy Released their most recent Production Update

• Argo Blockchain looks to Quebec to Increase Hash Rate

• HIVE discusses versatility entering the data center grade cloud hosting

• Understanding the Bitcoin Halving by Fidelity

• Larry Fink Continues to Weigh in on Bitcoin’s future

CleanSpark Phase Two of Mining Campus in Washington, Georgia Live 🤟

• The expansion is expected to increase CleanSpark's bitcoin mining compute power by 1.8 EH/s to reach 8.5 EH/s.

• CleanSpark's total investment in the Washington campus is over 100 MUSD. Phase two of the Washington campus has a power capacity of 50 megawatts (MW) and includes over 15,000 mining machines, with 10,500 already in operation.

• CleanSpark acquired the campus and existing infrastructure for 25.1 MUSD in August 2022 and has invested an additional 55 MUSD in phase two.

• The expansion is expected to increase the total power capacity to 86 MW.

• CleanSpark's growth in the bitcoin mining sector has been rapid since 2022, and it has been acquiring mining campuses, including a recent acquisition in Dalton, Georgia, for 9.3 MUSD.

• CleanSpark uses power-efficient mining machines and predominantly relies on low-carbon energy sources, which make up over 90% of its energy mix.

Iris Energy Mined 428 BTC in June with over 5.5 EH/s Energized 🏃‍♂️

• Targeting expansion from 5.6 EH/s to ~9.1 EH/s4 of potential data center capacity by early 2024

• The Company remains well capitalized with ~$64m cash⁷ , no debt, operating cashflows from its existing 5.6 EH/s, as well as additional optionality from its committed equity facility

• Prior HPC⁸ data center strategy revitalized with early traction for potential use of current sites, as well as additional global sites under development

ARGO Blockchain Mined 139 BTC in June and discussed Quebec Expansion ⚡️

• At its Quebec facilities, the company has started bringing in and setting up additional BlockMiner equipment.

• When fully operational, these new computers should boost the company's overall hashrate capacity by 12%, or to about 2.8 EH/s.

• Production was down 17% from the prior month due to network difficulty rising rapidly

Hive drops “Blockchain” from the name and discusses Cloud Hosting with our friend Will Foxley 🤖 

• HIVE produced 259 Bitcoin in the month of June, from ASIC and GPU mining operations, representing an average of 76.6 Bitcoin Per Exahash, with an average hash rate of 3.38 EH/s for the month of June 2023

• The company produced an average of 8.6 BTC per day in June 2023

• Ending the month with 3.48 EH/s of mining capacity, including ASIC and GPU BTC hash rate.

• Canada-based mining company said it has dropped “blockchain” from its name to better represent the company’s “evolving focus” on revenue opportunities in graphics processing units (GPUs) and cloud computing, as well as “its mission to drive advancements in AI” and support the “new Web3 ecosystem. - CoinTelegraph

Fidelity Releases Research Report on the Bitcoin Halving 🤝

• Fidelity Digital Assets released their research on the upcoming halving.

• Miners would be wise to strategize how to properly position their business to not just manage, but capitalize on the events to come.

• The authors did a great job showing the relationship between 2024 and prior halving periods.

• For the full article check out the following LINK.

Larry Fink Weighs in on Bitcoin’s Future 🔍️

• Mr. Fink has been vocal about his support for the Bitcoin Network recently

• Check out his CNBC interview this morning HERE

• How will this effect the market? Time will tell..