This Week in Mining: August 17th

Plenty of mining stories this week:
  1. It’s monsoon season and heavy rainstorms in China’s Sichuan province have affected the regions mining farms, dropping their average daily hashrate between 10% and 12%. This includes hashrate metrics from four of the world’s top pools: Poolin, F2Pool, BTC.com, and Antpool. While the rain helps generate excess hydroelectric power capacity, the flooding and mudslides can result in mining operations to temporarily pause their operations.
  2. US Bitcoin mining firm Riot Blockchain has purchased 8,000 additional Bitmain S19 Pro Antminers, due to begin delivery in January 2021 with the final units arriving in April next year. The additional hashing power is expected to bring Riot’s total hashrate to 1.45 EH/s.
  3. Mining industry expert Kristy-Leigh Minehan has dropped some intriguing info regarding a potential new entrant into the ASIC market. If true, this company’s offering will alleviate the existing supply chain woes plaguing the mining industry while delivering top tier products. We’ll continue to keep an ear to the ground.
  4. Layer1, the US based mining firm backed by Peter Thiel has been struck with a lawsuit for patent infringement in the Western District Court of Texas. The complaint alleges Layer1 violates a patent filed by Lancium LLC in March 2020 that described a method to shut down or start data centers in real time based on the cost of electricity.