No Bullshit Bitcoin Weekly Digest - Block 854134

July 27, 2024 · 14 min · 2817 words

👉 Block 854134: Weekly Digest

Important news of the week without the bullshit.

News

OpenSats, a non-profit dedicated to supporting Bitcoin and freedom tech developers, granted support for 7 bitcoin projects: Peer Storage backups for Lightning channels, Secp256k1.swift, Blitz Wallet, NLightning, eNuts, Gonuts, and Bitcoin Fees.
OpenSats also announced long-term support (LTS grant) for Hodlbod, the creator of the Nostr web client Coracle, and long-term support for Nostr developer fiatjaf.
A Bitaxe has found a block! A solo Bitcoin miner with 3 TH/s has mined block 853742, overcoming odds of 1 in 1.2 million and earning 3.192 BTC (approximately $200,000).
Bitcoin miner manufacturer Canaan urges all Avalon Nano 3 home miner users to update their Avalon Remote App to the latest version and use it to upgrade the firmware of their Nano 3 machines.
Swan Bitcoin, a Bitcoin-only investment platform located in California, is halting its ‘Managed Mining’ operations that were disclosed earlier this year. The company is also scrapping its plans to go public, said CEO Cory Klippsten. The changes also include staff cuts across many functions.
Bitcoin miners on KYC mining pool Foundry USA can now make donations to open-source developers through non-profits like Brink and OpenSats.
Public Bitcoin miner MARA, formerly Marathon Digital, announced the purchase of $100 million in Bitcoin, now holding over 20,000 BTC. The company will adopt a full HODL strategy for its Bitcoin treasury policy, retaining all mined Bitcoin while making periodic strategic open market purchases.
Bitcoin miner Hut 8 won a $138 million breach-of-contract lawsuit against MARA, which intends to appeal the verdict, reports The Miner Mag.
Riot Platforms has acquired Kentucky-based Bitcoin miner Block Mining in a $92.5 million deal expected to add 60 megawatts of capacity.
Ontario Capital Markets Tribunal supported Riot’s request to terminate Bitfarms’ initial “poison pill” strategy. In response, Bitfarms adopted a new shareholder rights plan to protect against “creeping bids,” allowing shareholders to receive one right per share if anyone acquires 20% or more of their shares without making a “Permitted Bid” that meets specific conditions.
Mining hardware producer MicroBT introduced its latest WhatsMiner M6XS+ series during the Bitcoin 2024 conference. The new series includes air-cooling WhatsMiner M60S+ (up to 210 TH/s with a power efficiency of 17 J/T), hydro-cooling WhatsMiner M63S+ (up to 450 TH/s, power efficiency of 17 J/T) and WhatsMiner M64 (up to 206 TH/s, power efficiency of 19.9 J/T), and immersion-cooling WhatsMiner M66S+ (up to 318 TH/s, power efficiency of 17 J/T), according to Bitcoin Magazine.
Meanwhile, Auradine, a U.S. bitcoin ASIC chip manufacturer backed by Marathon, has begun shipping its 3-nanometer Teraflux 2800 series miners. The air-cooled model AT2880 delivers up to 260 TH/s, while the single-phase immersion miner AI3680 offers 375 TH/s and 14 J/T efficiency in optimal mode.
Cathedra Bitcoin has successfully merged with Kungsleden Inc., forming a new entity that will manage 95 MW of power and a hash rate of 4.8 EH/s.
Bitcoin mining firm Cormint Data Systems has raised $29 million in a Series B equity funding round, co-led by existing investors.
Satimoto, a privacy-friendly electric vehicle charging app utilizing Bitcoin via the Lightning Network for micro-payments, will disable services starting September 1, 2024. All of Satimoto’s code is FOSS and available online.
Satoshi Pacioli Accounting is offering free tax preparation, filing, and consulting services to U.S.-based open-source Bitcoin developers.
Ego Death Capital has raised $43.35 million in commitments for its $100 million second fund targeting Series A Bitcoin technology startups.
Metaplanet, a Tokyo-listed investment firm, purchased an additional 20.381 BTC ($1.27 million). This brings its total holdings to 246 BTC, worth approximately 2.45 billion yen ($15.5 million).
Real Bedford football club has acquired 66.9 BTC for $4.5 million, averaging ~$67,220 per coin. The club now holds a total of 82.7 BTC, purchased for ~$5.37 million at an average price of ~$64,925 per bitcoin. Club owner Peter McCormack noted that 15.8 BTC is earmarked for football operations, while the rest is held in treasury.
Bitcoin financial services company Fold is set to go public on the Nasdaq via a merger with special-purpose acquisition company Emerald Acquisition Corp. (EMLD), valuing Fold at $365 million. After the merger, Fold expects to have over 1,000 BTC on its consolidated balance sheet.
Luxury car brand Ferrari announced that it will expand its acceptance of Bitcoin and other digital currencies to its European dealer network starting at the end of this month. This follows its initial rollout in the United States last year in partnership with BitPay.
Jersey City, New Jersey, plans to invest part of its pension fund in Bitcoin ETFs, as confirmed by Mayor Steven Fulop. The city is updating its paperwork with the SEC and expects to complete the process by summer’s end. This decision follows the State of Wisconsin Investment Board’s purchase of at least $160 million in Bitcoin ETF shares earlier this year.
In Paraguay, Bitcoin miners are urging the government to reconsider an upcoming electricity price hike of up to 14%, warning it could harm the economy and cause losses of up to $1.5 billion. This increase, announced by the national electricity operator Administración Nacional de Electricidad (ANDE), will take effect on August 1.
Bitcoin mining and data center operator HIVE Digital is expanding its operations to Paraguay. The new site will utilize 100 megawatts of hydroelectricity and is expected to support an additional 6.5 EH/s, reports The Miner Mag.
The Argentine General Inspection of Justice (IGJ) has approved the registration of companies that include Bitcoin and other digital assets in their social capital. This marks a significant update in Argentine corporate law, providing a legal avenue for incorporating digital assets into corporate structures, reports Atlas21.
Illuminodes, a Salvadoran technology initiative, and the Paravida Hospital Group, a hospital group in El Salvador, have announced the first real-world healthcare pilot using the Nostr and Bitcoin protocols, set to be implemented in hospitals in San Salvador.
Russian legislators appear to be set to finally adopt a regulatory framework that legalizes Bitcoin mining, and permits the use of cryptocurrencies for international trade. This development follows Vladimir Putin’s calls for stricter regulations on mining and praise for the digital ruble(CBDC) pilot.
In other news, the Russian authorities said they have seized 500 bitcoin mining rigs, while RT reported that the country is exploring the use of ‘recycled manure’ for mining operations.
At the same time, Bitcoin Policy UK has sent a letter to the UK’s Chancellor Rachel Reeves and City Minister Tulip Siddiq, urging the government not to sell its 61,000 BTC seized in 2021.
Republican Senator Cynthia Lummis of Wyoming is reportedly preparing to introduce new legislation that would require the Federal Reserve to hold some Bitcoin as a strategic reserve asset.
Switzerland has significantly advanced its “Federal Law on the Use of Electronic Means for the Fulfillment of Government Tasks” (EMBAG), which mandates the use of open-source software (OSS) in the public sector.
Europol’s latest report, titled ‘Internet Organised Crime Threat Assessment,’ indicates that Bitcoin remains the most popular digital asset in cybercrime cases involving cryptocurrencies. However, the use of altcoins, particularly stablecoins in investment fraud and Monero in ransomware attacks, is on the rise.
On July 11, a security breach occurred involving a bank linked to Coinbase, exposing the names, bank account numbers, and routing numbers of 154 exchange customers, reports Atlas21.
British watchdog Financial Conduct Authority (FCA) fined Coinbase’s UK arm CB Payments Limited (CBPL) £3.5 million ($4.5 million) on Thursday for onboarding 13,416 “high-risk customers.”
Social media platform X removed the #Bitcoin hashtag emoji.

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