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:

• Mining Disrupt Conference in Miami

• SAZ Mining expands into Paraguay

• Stronghold Purchased 2,000 ASIC’s

• SATO increased their hash rate by over 300%

• MARA on speaks with Pomp about growth plans

Mining Disrupt Disrupt in Miami 🤟

• Mining Disrupt is one of the larger conferences in the space.

• Block Green was in attendance along with a plethora of industry stakeholders.

• Mining Services were a focus throughout the week as Miners prepare for the halving.

• RFK Jr spoke with Dennis Porter from Satoshi Action Fund on his hopeful expectation for Bitcoin’s future and his Presidential Campaign.

SAZ Mining Opened their Paraguay Facility utilizing Hydro Energy 🏃‍♂️

• SAZ Mining already operates a facility in the United States but this week they announced they are now international

• The company has always focused on Green Hash Rate and Sustainable mining and they will continue to do so in Paraguay utilizing hydro resources from the Itaipu Dam.

• “We’re hyper-focused on putting our philosophy out there with wanting to improve humanity's relationship with money and energy.” - CEO, Will Szamosszegi.

• The estimated hosting cost of their machines is below 5 cents at $0.047/KwH

Stronghold Makes Large ASIC Purchase ⚡️

• Stronghold has purchased from Canaan 2,000, latest-generation A1346 Bitcoin miners for a price of approximately $3 million.

• The company expects to take delivery in the 3rd quarter of this year.

• The A1346 Miners are the most efficient miners that Canaan has manufactured to date and have been held in high regard from many players in the space.

• CEO Greg Beard mentioned “Similar to our miner purchases earlier in the year, we believe that the cash flow uplift from this expansion will allow us to recover our entire investment in less than one year based on current hash price, forward power prices, and 95% assumed miner uptime.”

SATO increased their hash rate by over 300% and restructured debt 🤝

• Their restructuring was in the amount of CHF 6,790,000 (CAD$10,383,324 Equivalent based on July 20, 2023 exchange rate, including outstanding amounts under the existing loan)

• 9.5% interest rate per annum; Repayable over a 3 year term.

• This gives the company the flexibility to purchase currently hosted mining equipment, increasing SATO's self-mining by 358% up to approximately 530 PH/s

• Romain Nouzareth, CEO and Chairman of SATO commented: "We are thrilled to extend and grow our partnership with Sygnum, the world's first digital asset bank, based in Zurich, Switzerland. This renewed hash-rate backed financing solution will greatly expand our efficient computing power infrastructure.”

MARA Speaks with Pomp on Nuclear Energy, Vertical Integration, Mining in the UAE and more..

• Check out the full link HERE