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

• Dylan LeClair joins Block Green as an advisor 👏 

• July update - USBTC is growing hosting business 📈 

• Digital Energy Council establish non-profit to promote crypto mining ⚡️ 

• Blockstream raises funds via tokens for acquiring ASICs 💵 

Dylan LeClair Joins Block Green 💚 

Dylan announced that he joined Block Green as an advisor on twitter and LinkedIn. Welcome onboard Dylan!

Miners Turning to Equity Financing 🏠️ 

• Ten public Bitcoin mining companies raised over $430 million in Q2 through stock offerings, a 60% increase from the previous quarter.

• Bitfarms, Cipher, CleanSpark, HIVE, Marathon, Riot, Stronghold, and Terawulf were among the companies involved in the fundraising.

• Cipher and Riot also announced potential stock offerings that could bring in up to $1 billion in proceeds.

• Bitdeer secured a stock sales agreement with B. Riley's investment arm for up to $150 million.

• These companies collectively represent 16.8% of the Bitcoin production market share.

• Net spending on infrastructure (PP&E) exceeded $260 million, signaling preparation for Bitcoin's upcoming halving.

USBTC Self-Mined 286 BTC But Hosting is the Main Revenue Driver ⚡️ 

• USBTC's primary revenue source is now hosting and property management services.

• USBTC won auction to manage Celsius Network's assets, secured hosting agreements for 150,000 bitcoin miners.

• Self-mining contributed 286 bitcoins in July, but hosting is the main revenue driver.

• Month-End Hashrate Under Management: 18.99 EH/s

• Estimated metrics with Celsius Transaction:

  • Miners - 311,349

  • Hashrate - 31.19 EH/s

• Self-Mining Metrics:

  • Miners Installed - 48,255

  • Hashrate Installed - 4.9 EH/s

• Energy Metrics:

  • Megawatts Under Management - 730 MW

  • Energy Supplied for Grid Relief - 33,580 MWh

  • Energy Sold from Echo Wind Farm - 3,071 MWh

• Merger with Hut 8 aims to create "Hut 8 Corp." for large-scale Bitcoin mining and ESG practices.

DEC Unites Energy and Mining for Sustainable Growth 🌱 

• The Digital Energy Council (DEC) has officially launched as a non-profit advocacy group. DEC's focus is on promoting responsible energy development, grid resilience, and economic growth through Bitcoin and crypto mining.

• Founder and President of DEC, Tom Mapes, highlights the need for collaboration between digital asset mining and energy industries for energy infrastructure, resilience, and sustainability.

• One of DEC's goals is to dispel misconceptions about digital asset mining, U.S. energy security, sustainability, and grid modernization. The organization aims to create high-paying employment opportunities in non-traditional markets, including rural areas.

• DEC has initiated efforts to engage policymakers, with U.S. Senator Lisa Murkowski and U.S. Senator Cynthia Lummis being among the first collaborators.

Blockstream Raises Funds for Acquiring ASICs 💵 

• Blockstream partners with STOKR, a digital platform for alternative assets, to introduce the Blockstream ASIC (BASIC) Note.

• The BASIC investment vehicle aims to raise $5 million via Series 1 BASIC Notes priced at $115,000 each.

• The objective is to acquire ASICs in bulk, store them, and strategically sell them as the market recovers, with consideration for the upcoming Bitcoin halving event in April-May 2024.

• The success of Blockstream Mining Note (BMN) has attracted attention, and the BASIC Note focuses on a bitcoin-centric return strategy, charging fees only when outperforming bitcoin.

• BASIC's structure rationale includes anticipating a surge in bitcoin price (late 2023 to 2024), increased demand for ASICs due to the imminent Bitcoin halving event, and improved access to resources for miners as capital becomes more available.