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Tag: Mining

  • Bitcoin (BTC) mining difficulty Increases

    Work just became more earnestly for Bitcoin (BTC) miners, as mining trouble hit another unequaled high (ATH), and by cutting into the all-around diminishing net revenues of miners.

    The Bitcoin mining rate, or the proportion of the fact that it is so difficult to seek mining rewards, hopped 4.89%, arriving at 31.25 T

    This ascent follows an almost 5.6% expansion seen fourteen days prior when the trouble arrived at the 29 T range without precedent for the organization’s set of experiences.

    In the interim, Bitcoin hashrate, or the computational force of the network, has remained practically unaltered.

    In a similar time frame, be that as it may, Bitcoin mining benefits saw a lot bigger drop, falling almost 13%. Throughout recent days, the cost of BTC went down 23%

    The mining rate of Bitcoin is changed around at regular intervals (or all the more exactly, every 2016 block) to keep up with the typical 10-minute block time. The 7-day moving normal block time on May 9 was 9.63 minutes.

    As indicated by information given by ByteTree, over the course of the last weeks, miners have spent altogether a greater amount of their recently created BTC than they held.

  • RIOT Blockchain Thinks 2022 is Year for Consolidation

    RIOT Blockchain Thinks 2022 is Year for Consolidation

    Revolt Blockchain (RIOT), one of the biggest public Bitcoin miners, sees this year as the “extended period of the union in the Bitcoin mining industry,” and hopes to profit from it.

    In a Securities and Exchange Commission (SEC) recording on Tuesday, the miners expressed that it is “ceaselessly assessing vital open doors” that it might choose to seek after as a component of its essential development drives.

    As indicated by FactSet information, the miner revealed a 2021 income of $213.2 million, which is up 1,665 percent from 2020, and beat normal examiner appraisals of $211.06 million.

    As indicated by the miner, an expansion in the organization’s hashrate and the cost of Bitcoin helped the organization’s income in 2021.

    In 2021, the organization revealed an overall deficit of $7.9 million, contrasted with an overall deficit of $12.7 million of every 2020. As indicated by an assertion, the total deficit for the financial year 2021 was fundamentally affected by a non-cash stock-based remuneration cost of $68.5 million and a non-cash, undiscovered deficiency of $36.5 million on cryptographic money impedance.

    Revolt additionally expanded how much Bitcoin hung on its monetary record by 353% in 2021, from 1,078 of every 2020. On March 3, the miners expressed that as of the finish of February, it had around 5,783 self-mined Bitcoins.

    Besides, the miner emphasized its objective of coming to a hashrate of 12.8 exahash each second (EH/s) in 2022. In the examination, Marathon Digital expressed that it hopes to come to a hashrate of 23.3 EH/s by mid-2023.

    As indicated by TradingView information, Riot shares rose somewhat in late-night exchanging, while Bitcoin stayed above $40,000 per coin.

    What do the Miners think

    Besides, with dread overwhelming financial backer opinion, the admittance to capital that miners delighted in last year has to some degree evaporated, especially for organizations that have as of late IPO or plan to go public in the future. Because of market instability, Bitcoin miner Rhodium Enterprises as of late delayed its first sale of stock, which esteemed the organization at up to $1.7 billion.

    Besides, the hashrate and trouble of the Bitcoin network as of late arrived at unequaled highs, making it harder for miners to acquire awards for approving exchanges. In the meantime, as per Hashrate Index, hashprice, a proportion of miners’ day-to-day income per terahash of processing power ($/TH/day), fell close $0.18 from its November pinnacle of around $0.40/TH/day.

    Miners, then again, are determined by the crypto market slump, as most are as yet creating sound gains even as Bitcoin drifts around $40,000 levels.

    While miners with greater expenses are probably going to create less gain at the current Bitcoin value, those benefits are as yet higher than they were during the latest bear market, which started in 2018. As per Juri Bulovic, Foundry’s head of mining, hashprice hit a story of $0.07/TH/day during that bear market.

  • Lithium Americas Corp. (LAC) Stock Prices Volatile as Mining Project Opposition Continues

    Lithium Americas Corp. (LAC) stock prices were down by 4.69% as of the market closing on July 23rd, 2021, bringing the price per share down to USD$13.01. Subsequent premarket fluctuations have seen the stock rise by 10.53%, bringing it up to USD$14.38.

    LAC Stock Regains Excavation Approval

    July 24th 2021 saw Lithium Americas Corp gain approval from a U.S federal judge ruling for the continuation of its excavation work. LAC stock is set to resume excavating at the Thacker Pass lithium mining site in Nevada. LAC came across a hiccup when environmental lobbyists claimed the company’s activity could harm sage grouse and other wildlife. This is in line with increasing pressure from environmental groups to courts and regulators in attempts to block mining projects. The favorable ruling was a rare win for critical U.S mineral projects, some of which produce metals essential for building electric vehicles.

    LAC Excavation in Limbo

    The excavation project was given the green light by the Trump administration in January of 2021. Continued digging has been allowed while the courts determine the lands historical import for Native Americans. The judge handling the case has said she expects to publish her decision in early 2022. As a part of the deliberations, LAC stock paused its digging operations until July 29th, 2021.

    Hopeful for Positive Outcome

    A major factor in the consideration of the case is the size of the land being affected. With a meagre quarter of an acre possibly being affected in a project that spans 18,000 acres, this will play a contributing role in the ultimate decision. Furthermore, those opposing the excavation have not yet been able to concretely prove what specific damage the digging executed by LAC stock will cause.

    Clash with Environmentalists

    With only hypothetical guesses to go on, the court places the onus of proof on environmentalists to show the potentially irreparable damage. The environmental groups that sued to block the project have expressed their disappointment in the court’s ruling. One of their main concerns besides the wildlife is the removal of cultural and historical artifacts. The lobbying groups expect to continue challenging LAC stock in order to facilitate the cancellation of the entire project.

    Future Outlook for LAC Stock

    Armed with the positive development of the excavation project, LAC stock finds its outlook considerably brighter. The company is poised to continue its trajectory of success as it continues pushing for the continual development of its digging operations. Investors are hopeful for long-term gains in shareholder value as LAC carries on effectively executing its business strategy.

  • Americas Gold and Silver Corp. (USAS) Stock Experiences Minor Volatility Following Galena Milestone

    Americas Gold and Silver Corp. (USAS) stock prices were up by 1.25% at the end of market trading on July 12th, 2021, bringing the price per share up to USD$1.62. Subsequent premarket fluctuations saw the stock fall by 6.79%, bringing it down to USD$1.51.

    Galena Milestone

    The company announced on July 12th 2012 that it had reached a significant milestone in its Galena Complex Recapitalization Plan, having completed its Phase 1 drilling program. The most recent mineral resource update was released in September 2020, having successfully demonstrated the significant exploration potential at the property. This is shown by the significant increase in Measured and Indicated Resource of 36%, while Inferred Resource was up by 100%.

    Mineral Resource Forecast

    An updated Mineral Resource estimate is forecasted to be provided by the company by the end of August 2021. USAS is confident that the resource estimates will increase by the company’s target for over 50 million ounces of silver when considering Galena on a 100% basis. This forecast is based on the success of continued exploration from drilling completed during July 2020 through to June 2021.

    Production Growth

    2021 is expected to be a transitional year at the Galena Complex with production volumes in mind, as exploration drilling continues to facilitate ongoing success. The company’s operations will support production growth towards a 2 million silver ounce per year plan by the end of 2022. Contingent on the ongoing success of the exploration drilling, the company is confident in the long run that production will hit its historical annual production levels of roughly 5 million ounces per year.

    Galena Phase 2

    The Phase 2 drill program has an anticipated commencement date of the third quarter of 2021, with several targets already identified. Drilling will be centered around a newly developed drill station east on the 5500-Level, in the interest of continuing to test the extension of the Silver Vein at depth. This comes after the success of the initial 21-hole drill program, with subsequent drill stations being planned further east on the 5500-Level in order to continue targeting the Silver Vein and 360 Complex.

    Future Outlook for USAS

    Armed with the promising development of their exploration drilling program, USAS is poised to capitalize on the opportunities afforded to it by its continued and effective allocation of resources. Current and potential investors are hopeful that management will continue to facilitate organic and long term growth as the company continues to extrapolate its trajectory of success.

  • ReTo Eco-Solutions, Inc. (RETO) Stock Skyrockets Ahead of Announcement of New Hainan Project

    ReTo Eco-Solutions, Inc. (RETO) stock prices were up by a massive 29.24% as of the market opening on June 23rd, 2021, bringing the price per share up to USD$1.51 early on in the trading day.

    Hainan Province Project

    June 23rd, 2021 saw the company announce a new iron tailings project in the Hainan Province. The project has a 3 million ton treatment capacity and is expected to generate almost USD$43.7 million in annual sales once production commences. RETO has been tasked with designing, building, and managing the facility, which will be responsible for the largest volume of iron tailings in Hainan.

    Merit of RETO

    The company was selected for the project based on its patented technology, ability to implement and manage secondary sorting of iron tailings, as well as the selection and use of iron ore. RETO’s expertise in recycling leftover ore and processing it into ecologically friendly building materials also supported the case for it to be granted the project. The project is expected to generate almost USD$20.4 million in gross profit for the company.

    Basis for Project

    RETO uses cutting-edge and reliable technologies for production by implementing various systems such as three-stage crushing, two-stage screening, sand making, and beneficiation. Leftovers from production are use as an aggregate to produce building materials. Iron ore tailings are one such leftover, as one of the most common solid waste in the world. They are a byproduct of the beneficiation process of iron ore concentrate.

    Scope of Project

    Because of China’s rapid economical growth and expansion of its iron and steel industries over recent years, the volume of iron ore tailings has skyrocketed. This leads to a substantial environmental and economic cost arising from massive land occupation and ecological damage, which, in turn, results in safety hazards. Because of the increasingly alarming proliferation of the waste, effective waste management systems and solutions are more needed than ever.

    Benefits of Project

    The project will help diminish the cumulative adverse effects of the existing waste problem. Concurrently, the project will also serve to help recover valuable iron resources for reuse that would otherwise have been lost. Furthermore, the project has the potential to be an excellent platform to showcase the company’s proprietary one-stop comprehensive solid waste utilization.

    Future Outlook for RETO

    Armed with such a lucrative project in the works RETO is poised to continue its trajectory of success. The company is keen to capitalize on the opportunities afforded to it from the project. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • PolyMet Mining Corp. (PLM) Stock Exhibits Minor Volatility as Mining Permit for Project is Halted

    PolyMet Mining Corp. (PLM) Stock Exhibits Minor Volatility as Mining Permit for Project is Halted

    PolyMet Mining Corp. (PLM) stock prices were up by 1.34% as of the market closing on June 18th 2021, bringing the price per share up to USD$3.77. After-hours trading saw the stock fall by 5.57%, bringing it down to USD$3.56.

    Devastating EPA Decision

    The company announced on June 4th, 2021 that the Environmental Protection Agency (EPA) had reached the conclusion that PLM’s proposed project to mine copper, nickel, and other precious metals had the potential to affect its surrounding areas. The primary area of concern was the water network on the Fond du Lac reservation and in Wisconsin, both of which are more than 100 miles downstream of the mining sites.

    Questioning the Decision

    The EPA’s conclusion does not imply that the company’s mining activities will result in adverse effects on downstream water quality, just that such an effect is possible. This is a direct contradiction of the 2018 Minnesota Pollution Control Agency’s certification that the project would not affect in-state water quality, under section 401 of the Clean Water Act. The company plans to present evidence that the MCPA conveyed to the Army Corps of Engineers, likely resulting in the requirement of a hearing to make a final decision in regard the matter.

    Basis for Doubt

    During its operation, the project will collect and treat water, resulting in a net reduction of contaminants in the St. Louis River system. This includes water that hold mercury, among other contaminants, from previous mining of taconite in the area. The company has expressed grave concerns about the conclusion reached by the EPA, citing the disconnect between meeting standards of quality close to the source of the discharge while failing to do so for locals much further downstream. These concerns are compounded by the likelihood of the project resulting in reduced overall mercury loading to the river.

    Challenging the EPA

    Backed by science that supports the development of the project, the company is determined to work with both the EPA and Corps to rectify the issue so development can continue. Because the EPA needs to approve projects for downstream water quality for the issuance of a section 404 wetlands permit, PLM is keen to accelerate the process. The Corps has placed the permit on old during the review and is likely to stay in place until a resolution to the dilemma.

    Future Outlook for PLM

    Confident of the regulatory integrity of their project, PLM is determined to challenge the devastating EPA evaluation. The company is keen to continue its trajectory of success and usher in unprecedented growth with the advancement of its mining project. Current and potential investors are hopeful that management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Almaden Minerals Ltd. (AAU) Stock Continues Downward Trend Following Culmination of Ixtaca IP Program

    Almaden Minerals Ltd. (AAU) Stock Continues Downward Trend Following Culmination of Ixtaca IP Program

    Almaden Minerals Ltd. (AAU) stock prices were down a marginal 2.03% as of the market closing on June 17th, 2021, bringing the price per share down to USD$0.5058 at the end of the trading day. Subsequent premarket trading has seen the stock remain stable as of the time of writing.

    Completion of Ixtaca IP Program

    The company announced on June 14th, 2021 that it had successfully completed a surface-induced polarization geophysical (IP) program at its Ixtaca deposit in Mexico. The work being conducted was designed to help isolate drill targets under the area of hydrothermal alteration called the Southeast Alteration zone, as well as at depth beneath the Ixtaca deposit.

    Results of IP Program

    The data collected will continue to be processed and combined with historic geologic, geochemical, and geophysical data. AAU hopes that these results will facilitate the identification of additional discrete targets for a future diamond drill program. This program will serve to test for potential blind zones of veining under the Southeast Alteration zone, which is mostly covered with overlying clay alteration similar to that in the SE alteration zone. The discovery drill hole in the original Ixtaca deposit area was planned partly due to high resistivity and chargeability results obtained in an earlier IP geophysical survey.

    SE Alteration Zone

    The SE Alteration zone is made up of white argillic volcanics and clusters of anomalies that were identified from a hyperspectral survey. This survey included spectral signatures of important epithermal alteration minerals such as kaolinite, alunite, and buddingtonite. November 2020 saw the company announce the discovery of a network of veining cropping out within the SE Alteration zone. Seventeen samples of the veining were collected and submitted to ALS Global in Mexico for analysis.

    Analysis of Samples

    Sixteen of the samples returned below detection gold and silver, with the odd one out returning a value of 62 ppb gold. Despite the outcrops being leached and weathered, however, many of the samples exhibited higher values for epithermal pathfinder elements, which are commonly found in the higher parts of epithermal alteration zones. These findings are highly promising in their support of the company’s claim that the SE Alteration zone has the potential to represent higher levels of a potential underlying epithermal system.

    Future Outlook for AAU

    Equipped with the recent development of the potential of its digsites, AAU is poised to capitalize on the opportunities presented to it to return to its trajectory of growth. Current and potential investors are hopeful that management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Bit Digital, Inc. (BTBT) Stock Prices Surge Following Announcement of Strategic Partnership with Digihost Amid Meme Stock Craze

    Bit Digital, Inc. (BTBT) stock prices skyrocketed by a massive 26.16% shortly after market trading commenced on June 14th 2021, bringing the price up to USD$9.77 early on in the trading day.

    Meme Stock Phenomenon

    With the recent proliferation of the meme stock craze taking over stock markets, akin to the GME and AMC episodes from earlier in the year, BTBT seems to be the latest target of the meme stock phenomenon. In the absence of any significant news or developments, the recent surge in PROG stock prices is likely to be attributable to the coordinated pump by investors who are users of the popular social media platform, Reddit.

    Agreement with Digihost

    The company recently announced entering into a strategic co-mining agreement with Digihost Technology Inc (DGHI). As per the agreement, DGHI will provide certain premises to BTBT to facilitate the operation and storage of a 20 MW Bitcoin mining system that will be delivered by BTBT. DGHI will also facilitate the provision of services to maintain the premises for a term of two years. The collaborative efforts of both companies are forecasted to result in an increased generation of hashrate in the amount of almost 400 PH between the two.

    Terms of Agreement

    As per the agreement, DGHI will be responsible or the provision of power for the operation of the Miners, as well as for management services that will be essential in maintaining the planned 95% uptime on the Miners. In return, DGHI will be paid a very competitive rate for power. The two companies will also participate in a profit sharing arrangement based on a fixed distribution formula. The delivery and installation of the Miners is expected for the fourth quarter of the fiscal year 2021.

    Scope of Agreement

    The company expects an increase in hashrate of 400 PH between them, based on current Bitcoin metrics, which will signal a massive collaborative success on the part of the joint venture. BTBT continues to expand its business strategy through the expansion of the company’s mining infrastructure, vertical integration of low-cost and green sources of energy, strategic partnerships within the blockchain sector, and geographic diversification across North America. These steps serve to strategically operating the business in regions where the carbon footprint being generated is minimal or non-existent.

    Future Outlook for BTBT

    Armed with a potentially lucrative strategic partnership, as well as the fortuitous surge in the value of their equity, BTBT is poised to capitalize on the opportunities presented to it. The company is keen to continue its trajectory of success and usher in more organic growth over the long-term. Current and potential investors are hopeful that the management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Riot Blockchain, Inc. (RIOT) Stock Undergoes Minor Volatility Following May 2021 Production and Operations Updates

    Riot Blockchain, Inc. (RIOT) Stock Undergoes Minor Volatility Following May 2021 Production and Operations Updates

    Riot Blockchain, Inc. (RIOT) stock prices were down by a marginal 1.93% as of the market closing on June 11th, 2021, bringing the price per share down to USD$31.03. Subsequent pre-market fluctuations have seen the stock rise by 6.99%, bringing it up to USD$33.20.

    May 2021 BTC Production Report

    RIOT reported having produced a total of 227 BTC in May 2021, representing a 220% increase over the 71 BTC reported having been produced in May of the prior fiscal year. Year-to-date production numbers through to May of 2021 were reported at 924 BTC, up almost 101% over the company’s pre-halving BTC production during the same period over the course of fiscal 2020, which reported 460 BTC being produced. As of May 31st, 2021, the company reported having a total of almost 2,000 BTC, the entirety of which was produced by the company’s own mining operations.

    Acquisition of Whinstone

    May 26th, 2021 saw the company announce the completion of its acquisition of Whinstone U.S., including their Rockdale facility, which is the largest Bitcoin mining facility in North America. The facility comes in at 300 MW in developed capacity. RIOT announced its intent to facilitate the immediate development of additional capacity at the Whinstone facility, in order to raise the cap to 750 MW. An industry-leading development team of more than 10 employees will spearhead the expansion.

    Bitmain Purchase Order

    May 2021 saw the shipment of 1000 S19 Pro Antminers (110 TH) as part of a purchase order with Bitmain in December 2020. The installation of the miners is expected to be completed in Q2 2021, with RIOT reporting a total of 23,946 Antminer’s in operation. This array of miners uses roughly 76 megawatts of energy, with an estimated hash rate capacity of 2.4 exahash per second.

    Agreement with Mogo Inc

    The company recently announced the completion of purchase transactions with Mogo Inc, which saw Mogo acquire a cumulative entirety of the 3.4 million common shares of CoinSquare Ltd stock held by RIOT. In return, RIOT was granted a total consideration of 3.2 million shares of Mogo’s common stock, in addition to roughly USD$1.8 million in cash. As of this agreement, RIOT no longer owns any equity investment in Coinsquare.

    Future Outlook for RIOT

    Armed with the stellar reports and developments over the month of May 2021, RIOT is poised to continue its trajectory of success over the upcoming few months. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • The debut of Bitcoin Mining Council

    The debut of Bitcoin Mining Council

    Bitcoin is notoriously known for its high energy consumption. In fact, it was the high energy consumption of Bitcoin that led to the brutal market crash and end of the 2021 bull-run. Elon Musk, the advocate of cryptocurrencies, denounced the use of Bitcoin as a mode of payment for his Tesla cars which resulted in market-wide panic selling and, the crash.

    The mining of BTC is an energy-intensive power and as the demand and adoption increase, the mining does too. The electricity demand of BTC crypto is near 143 terawatt-hours – which is higher than the energy consumption of countries like Argentina. Bitcoin mining poses a huge challenge to countries trying to offset their carbon emission – like China. China has launched a crackdown on BTC mining as the country tries to achieve net zero carbon emissions. A shift towards renewable energy sources has recently been observed as non-renewable energy sources are not sustainable economically.

    As Bitcoin is believed to not got anywhere, BTC supporters are renewing their efforts to completely shift mining to renewable sources. Elon Musk had recently introduced a group of North American BTC mining companies that are focusing on the shift towards renewable resources. The mining companies have taken an official position as the BTC Mining Council.

    MicroStrategy CEO Michael Saylor initiated the council officially while describing the group as: “A voluntary and open forum of Bitcoin forum committed to the network and its principles”. However, the council would not have any power to impose standards or regulations on anyone. And while Elon Musk first introduced the Council, it appears as though the billionaire CEO does not have a place on the council – at least, not officially.

    Will the Bitcoin Mining Council bring about a positive change in the BTC mining industry or will it be just an organization with no real impact? We have yet to find out.