"U.S. Rep. Jared Huffman (D-Calif.), who leads a subcommittee within the House of Representatives' Natural Resources Committee, has recruited almost two dozen Democratic colleagues to urge federal environmental officials to devote further scrutiny to the consequences of cryptocurrency mining.
Companies looking to offset their carbon footprint will have leg up on competitors.
Kentucky had 18.7 percent of the collective computing power in the U.S devoted to bitcoin mining as of last October, according to Foundry, a company that operates a large bitcoin mining pool, CNBC said in a story. That was second only to New York, with 19.9 percent of the computing power.
Generation Hemp, Inc. (OTCMKTS: GENH) is set to launch its first green Bitcoin Mining Facility in the bluegrass state. The 48,000 sq. foot facility in Hopkinsville, Kentucky, which also houses a hemp drying operation through its wholly-owned subsidiary GENH Halcyon Acquisition, will be able to generate 2 megawatts ('MW') which would allow for up to 576 mining units. Assuming 100 TH/s per unit, GENH and Crypt Solutions would be able to generate $3-4 Million in Bitcoin revenues in 1 year of operations, assuming the price of Bitcoin stays between $35 and 45K.
GENH will use a combination of solar, and hemp-as-feedstock energy sources, which will be cost-effective and better for the environment.
This deal could be launching any day, which could bring a ton of interest into this low float company."
BitFarms Ltd (NASDAQ:BITF) - BitFarms Ltd is best known for being one of the biggest global players in the Bitcoin self-mining space and earlier this month on April 7 the company made a major announcement. It announced that it had finally been given the much-needed approval by the way by which it could list its common shares on the Toronto Stock Exchange.
It goes without saying that it was a major announcement from the company. It was also noted that the shares should start trading on the aforementioned stock exchange from April 8, 2022. It may be a good idea to keep an eye on the stock in the coming days.
BIT Mining Ltd - ADR (NYSE:BTCM) : The company reported $495.8 million in revenue for the fourth quarter of 2021, a jump of $102.7 million from $393.1 million for the third quarter of 2021. Operating loss stood at US$15.0 million, improved from $35.0 million for the third quarter of 2021.
Net loss came in at $8.8 million in the latest quarter, as compared with $29.6 million for the third quarter of 2021.
Revenues grew to $1,326.9 million for full-year 2021, compared with Revenues of $2.2 million for full-year 2020.
Bit Digital Inc (NASDAQ:BTBT) : The stock has been under selling pressure over the past month with a fall of over 35%. Earlier this week, the company filed a prospectus with the U.S. Securities and Exchange Commission (SEC) for the sale of up to $500 million in equity from time to time.
The offerings may be in ordinary shares, preferred shares (including convertible preferred shares), warrants, and units comprised of any combination thereof, according to the filing.
Cipher Mining Inc (NASDAQ:CIFR) : The stock has been under selling pressure over the past month with a fall of over 10%. Recently, the company announced its results for the fourth quarter and year ended December 31, 2021.
"I am pleased to announce that we began Bitcoin mining in February 2022, and we are making excellent progress in our long-term plans to build Cipher into a leading Bitcoin mining enterprise in the United States," said Tyler Page, CEO of Cipher.
Canaan Inc (NASDAQ:CAN) - Major high-performance computing solutions providing company Canaan Inc is one of the company that could be followed closely by investors at this point in time.
Back on March 16, the company provided an update with regards to its business outlook for the first fiscal quarter of 2022. The company announced that its operations were going to be delayed owing to the adverse effect on delivery logistics that had been brought about by the quarantine control measures that had been put in place in China owing to a fresh outbreak of the COVID-19.
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