🤠 Bitcoin Boom in Texas Sparks Health Concerns

TIME Magazine's recent article paints a dramatic picture of Granbury, Texas, where residents are reportedly suffering severe health issues due to noise from a Bitcoin minting facility. The article describes symptoms ranging from migraines and vertigo to heart problems, allegedly linked to the constant hum of mining operations. It cites over 40 residents, local doctors, and scientific studies on noise pollution to bolster its claims.

The described health crises, including seizures and heart failures, are alarming, but it's crucial to approach these anecdotes critically. Many factors could contribute to such health issues, and a direct causal link to the Bitcoin mine remains unproven.

Marathon Digital, the mine's operator, has acknowledged the noise problem and is transitioning to quieter immersion cooling technology. They claim significant progress in reducing noise and plan to comply with state regulations. The company’s response and ongoing efforts to mitigate the impact suggest a commitment to addressing community concerns.

Texas Tribune reported from the same town.

⛏️ In the News

Block and Core Scientific have partnered to deploy Block's advanced 3-nanometer ASIC mining chips, contributing approximately 15 EH/s to Core’s operations.

Bitcoin Policy UK advocates a new strategy before the Labour government that leverages Bitcoin mining to support the UK's renewable energy grid.

Argentina's Zapala province has emerged as a thriving hub for Bitcoin mining, benefitting from its favorable energy prices and tax incentives amidst rising electricity costs in neighboring Paraguay.

Bitfarms has appointed Ben Gagnon as its CEO, transitioning from his role as Chief Mining Officer to lead the company's strategic expansion and global initiatives. Congratulations to Ben on his new role!

June Updates

🏃 Marathon Mined 590 BTC

• MARA's average operational hashrate increased by 2% MoM to 26.3 EH/s in June 2024.

• The company increased its BTC holdings to 18,536 BTC with a combined cash and BTC value of $1.4b as of June 30, 2024.

• Transaction fees accounted for nearly 7% of total production.

• MARA energized approximately 13,000 additional miners in June, reaching an operating fleet of around 250,000 Bitcoin miners.

• Financially, MARA reported $268.0m in total cash and cash equivalents.

🧑‍🔬 Core Scientific Mined 430 BTC

• Secured HPC hosting contracts totaling 270 MW, with potential revenue exceeding $4.7b over 12 years, including agreements with CoreWeave for 200 MW and 70 MW.

• Self-mined 430 bitcoin in June, contributing to a total of 1,680 bitcoin mined in Q2 2024.

• Completed a 72 MW expansion at Denton, TX data center, increasing operational infrastructure to 832 MW. Began a project to complete 100 MW of partially built infrastructure at Pecos, TX data center.

• Improved average self-miner energy efficiency to 23.6 joules per TH, enhancing profitability post-halving.

• Provided hosting services for approximately 42,000 client-owned bitcoin miners, generating an estimated 110 BTC for clients in June.

• Implemented a strategy to curtail mining operations based on efficiency, hash price, and power costs, delivering 23,366 MW hours to local grid partners.

🪧 Riot Platforms Mines 255 Bitcoin

• Achieved a record deployed hash rate of 22.0 EH/s in June 2024, surpassing Q2 2024 target.

• Produced 255 BTC during the month, marking a 19% increase from May 2024 but a 45% decrease year-over-year.

• Bitcoin holdings reached 9,334 BTC as of June 30, 2024, with no BTC sold during the month.

• Implemented a cost-effective power strategy, earning $6.2m in power credits and reducing net power costs to 2.6c/kWh across facilities.

• Continues expansion at Corsicana Facility, aiming for 400 MW developed mining capacity in Phase 1 and 1 GW upon completion.

🐝 HIVE Mines 119 BTC

• Hive maintained an average mining capacity of 4.7 EH/s, ending June at 4.9 EH/s, with plans to reach 5.5 EH/s soon.

• HODL position grew to 2,496 BTC, further increasing to 2,503 BTC by July 7, 2024, valued at over $140m.

• Achieved 25.0 Bitcoin per EH efficiency and averaged 4.0 BTC per day in June.

• Confirmed readiness to ship additional S21 Pro miners, aiming to install 2,150 units by July's end to enhance hash rate to 5.5 EH/s.

🐺 TeraWulf Mined 177 BTC

• Installed and operational self-mining capacity reached 8.8 EH/s, marking a 76% YoY increase.

• Operational capacity at TeraWulf's facilities included 195 MW at Lake Mariner and 50 MW at Nautilus, supporting an average hash rate of 7.1 EH/s in June.

• The average power cost of $32,373 per bitcoin mined, reflecting a rate of $0.042/kWh.

• Building 4 at Lake Mariner, completed ahead of schedule, added 35 MW of infrastructure, with plans to ramp up to over 10.0 EH/s by July 2024.

• Ongoing construction of Building 5 at Lake Mariner (50 MW) the development of the 'WULF Den' (2 MW) and a 20 MW colocation facility are key expansion initiatives.

🏰 Stronghold Mined 61 Bitcoin

• Reported an estimated $4.0m in revenue for June 2024, a 24% decrease compared to May 2024.

• Experienced a temporary decrease in average daily hash rate of approximately 0.9 EH/s in June due to:

• Operational disruptions in June included voluntary curtailment during a Pennsylvania heatwave, planned maintenance on electrical infrastructure at Panther Creek, and a four-day halt due to a storm affecting transmission lines.

• Average hashprice was $0.055 per TH/s per day in June, up from $0.052 in April

🤖 DMG Blockchain Mined 24 BTC

• Achieved a realized hashrate of 0.98 EH/s during the month and ended June with a BTC balance of 464 BTC.

• Deployed 4,550 new Bitmain T21 miners, aiming for full operational capacity by July.

• Plans to enhance mining fleet to support near-term hashrate growth goals exceeding 1.7 EH/s.