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Jul 12, 2024, 12:23 pm

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Сryptocurrency exchanges / EIA Bitcoin Mining Data Collec...
Last post by Bitcoin - Jul 11, 2024, 07:43 am
EIA Bitcoin Mining Data Collection Webinar: A Summary of the Discussions

Today's webinar hosted by the Energy Information Administration laid out their plans for future efforts on data collection surveys targeted at Bitcoin mining operations based in the United States after an agreement was reached the 1st of March this year to cease the prior emergency survey and destroy all records collected during its operation.

They have clarified that currently no outstanding survey attempt exists on the Federal Registrar or is in motion at this time, and the purpose of the webinar was to seek feedback from members of the public and participants in the ecosystem on the types of information they could collect, what types of data has already been collected that could be valuable to them, and what important factors they should be taking into account when formulating a future survey.

They reiterated that two major challenges they face in attempting to gain a clearer picture of the state of Bitcoin mining in the United States were the difficulty in identifying mining operations amongst general energy consumers on the grid, as well as the ability for mining operations to rapidly relocate to areas with lower electricity prices making it difficult to keep track of the current state of operations.

Currently they plan to initiate the process of starting a survey sometime this year, potentially this quarter, and plan to incorporate any feedback industry participants and other members of the public are willing to offer in structuring the survey.

A number of industry members participated in the webinar: Thomas Mapes of the Digital Energy Council, Michael Postupak of the Blockchain Association, Margot Paez of the Bitcoin Policy Institute and Georgia Tech, Jayson Browder of Marathon Digital Holdings, Lee Bratcher of the Texas Blockchain Council, and others.

All the speakers reiterated that Bitcoin mining can be a net positive in its effects on energy infrastructure, particularly in helping facilitate demand response programs to free up electricity during periods of high demand spikes by regular consumers, and in the build out of more renewable energy production capacity by soaking up excess production when there is no other source of demand during times of surplus electricity.

Lee Bratcher specifically brought up the issue of Bitcoin miners being specifically singled out for a survey targeted solely at them, and broached the idea of expanding the survey to incorporate data centers in general, specifically distinguishing between data centers that are inflexible and must remain powered up consistently and flexible data centers that can dynamically power down in response to the needs of consumers or grid operators.

This was seconded by Jayson Browder as a source of hesitance and skepticism from mining operators in the industry as to why they were being singled out as a target of the survey.

Dennis Heidner, a member of the public attending the webinar, brought up his concern that the capital investment of miners might actually disincentivize miners from powering down their operations during times of high demand. This was a concern posed to the EIA in structuring future surveys as a factor to consider, given that miners still must work to make back their hardware investments and curtailing operations results in loss of revenue during that time period.

Margot Paez suggested the idea of Georgia Tech partnering with Lawrence Berkely National Laboratory, where researcher Arman Shehabi is currently conducting research on AI and data center energy consumption. Her rationale was that research is already ongoing to collect the type of data the EIA is seeking in their surveys, and given the relationships she has developed within the mining industry, and the relevance of datacenter power consumption to the EIA's general concern about Bitcoin mining, this partnership could combine already existing research to address the EIA's needs.

This would also allow an impartial non-governmental group to handle the actual data collection itself, working to anonymize the data itself while still providing the EIA with an accurate view needed to inform policy decisions without compromising the privacy of mining operations within the space.

Overall the webinar indicates a deep rethinking of the approach the EIA is taking in terms of data collection regarding Bitcoin mining operations in the United States. They seem to in the wake of the emergency survey being shot down in court open to a collaborative path forward with industry players moving forward to achieve an accurate view of power consumption for policy makers to base decisions on, rather than the adversarial and rushed path the emergency survey attempted to take. 


Source: EIA Bitcoin Mining Data Collection Webinar: A Summary of the Discussions
72
Сryptocurrency exchanges / Tanzania Fintech Startup Nala ...
Last post by Bitcoin - Jul 11, 2024, 07:43 am
Tanzania Fintech Startup Nala Secures $40 Million via Series A Round 

Tanzania Fintech Startup Nala Secures $40 Million via Series A Round Tanzanian fintech startup Nala recently secured $40 million in a Series A funding round led by San Francisco-based venture capital firm Acrew Capital. The funds will be used to bolster Nala’s business-to-business (B2B) payment platform and support its overall growth plans. New Funding to Support Nala’s Growth Plans Tanzanian fintech startup Nala recently secured $40 […]

Source: Tanzania Fintech Startup Nala Secures $40 Million via Series A Round 
73
Сryptocurrency exchanges / Los Angeles Sparks Extend Part...
Last post by Bitcoin - Jul 11, 2024, 07:43 am
Los Angeles Sparks Extend Partnership With Crypto.com Arena Until 2029

Los Angeles Sparks Extend Partnership With Crypto.com Arena Until 2029The Los Angeles Sparks, one of the most successful teams in the Women’s National Basketball Association (WNBA), have signed a five-year extension with Anschutz Entertainment Group (AEG) to continue playing at Crypto.com Arena until 2029. This agreement extends a long-standing partnership between the Sparks and the downtown Los Angeles venue, where the team has played […]

Source: Los Angeles Sparks Extend Partnership With Crypto.com Arena Until 2029
74
Israel's Digital Shekel Plans Hinge on ECB's Digital Currency Move

Israel's Digital Shekel Plans Hinged on ECB's Digital Currency MoveThe Bank of Israel (BOI) is exploring a central bank digital currency (CBDC), a digital shekel, to modernize Israel’s payment system and drive innovation. However, BOI Deputy Governor Andrew Abir stated that the BOI is waiting for a major central bank, likely the European Central Bank (ECB), to introduce a digital currency before proceeding. This […]

Source: Israel's Digital Shekel Plans Hinge on ECB's Digital Currency Move
75
Сryptocurrency exchanges / Bloomberg Analyst Discusses So...
Last post by Bitcoin - Jul 11, 2024, 07:43 am
Bloomberg Analyst Discusses Solana ETF Deadline and Election Impact

Bloomberg Analyst Discusses Solana ETF Deadline and Election ImpactA senior Bloomberg ETF analyst says the final deadline for the approve of solana exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) will be mid-March 2025. He stressed that the U.S. presidential election in November will play a crucial role in their approval. Analyst Discusses Political Impact on Solana ETFs A senior […]

Source: Bloomberg Analyst Discusses Solana ETF Deadline and Election Impact
76
Сryptocurrency exchanges / Fed Chair Powell Reaffirms Sta...
Last post by Bitcoin - Jul 11, 2024, 07:43 am
Fed Chair Powell Reaffirms Stance on Custody Assets Amid SEC Crypto Rule Controversy

Fed Chair Powell Reaffirms Stance on Custody Assets Amid SEC Crypto Rule ControversyOn Wednesday, Federal Reserve Chair Jerome Powell testified before the U.S. House Financial Services Committee, where Congressman Josh Gottheimer (D-NJ) questioned him about the SEC’s Staff Accounting Bulletin (SAB) 121. This bulletin mandates that banks include digital assets held in custody on their balance sheets, significantly raising the cost of providing digital asset custody services. […]

Source: Fed Chair Powell Reaffirms Stance on Custody Assets Amid SEC Crypto Rule Controversy
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Сryptocurrency exchanges / Trump to Address Bitcoin 2024 ...
Last post by Bitcoin - Jul 11, 2024, 07:43 am
Trump to Address Bitcoin 2024 Conference in Nashville

Trump to Address Bitcoin 2024 Conference in NashvilleAccording to a report from Bitcoin Magazine, Donald Trump, the 45th president of the United States and a 2024 presidential candidate, will be speaking at Bitcoin 2024 in Nashville. This announcement follows Trump’s recent support for bitcoin (BTC) and the Republican party’s inclusion of the cryptocurrency in their platform. The party has committed to safeguarding […]

Source: Trump to Address Bitcoin 2024 Conference in Nashville
78
Сryptocurrency exchanges / Senate Committee Discusses Str...
Last post by Bitcoin - Jul 11, 2024, 07:43 am
Senate Committee Discusses Strong Federal Oversight of Crypto Markets

Senate Committee Discusses Strong Federal Oversight of Crypto MarketsThe Senate Committee on Agriculture, Nutrition, and Forestry held a hearing on Wednesday where Chairwoman Senator Debbie Stabenow stressed the urgent need for robust regulation in the crypto market. The discussion focused on investor protection, market integrity, and the necessity of federal oversight for digital commodities like bitcoin and ethereum. Senate Committee Highlights Need for […]

Source: Senate Committee Discusses Strong Federal Oversight of Crypto Markets
79
Сryptocurrency exchanges / Binance CEO: Crypto Prices May...
Last post by Bitcoin - Jul 11, 2024, 07:43 am
Binance CEO: Crypto Prices May Fluctuate but Fundamentals Are Strong

Binance CEO: Crypto Prices May Fluctuate but Fundamentals Remain StrongBinance CEO Richard Teng has highlighted the significant interest in bitcoin and other cryptocurrencies, noting that U.S.-listed bitcoin exchange-traded funds (ETFs) had attracted over $14.7 billion in net inflows over the past six months. Teng emphasized the industry’s robust long-term fundamentals and urged the community to stay focused and continue building despite market fluctuations. Binance’s […]

Source: Binance CEO: Crypto Prices May Fluctuate but Fundamentals Are Strong
80
Сryptocurrency exchanges / VC Firm Hypersphere Reveals $1...
Last post by Bitcoin - Jul 11, 2024, 07:43 am
VC Firm Hypersphere Reveals $130 Million Atlas Liquid Fund

VC Firm Hypersphere Reveals $130 Million Atlas Liquid FundVenture capital firm Hypersphere has announced the launch of its new liquid fund, Atlas, managing over $130 million in assets. Atlas aims to capitalize on the inefficiencies in the young crypto markets through a diverse range of trading strategies. Hypersphere’s New Atlas Fund Aims to Target Optimized Crypto Returns The Atlas fund, which began quietly […]

Source: VC Firm Hypersphere Reveals $130 Million Atlas Liquid Fund
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