This Week in Mining: October 12th

Sparse week for mining news, but still some interesting developments:
  1. BitCluster, a Russian mining host, is building a bitcoin mining farm above the Arctic Circle at the site of a former nickel plant. Their first client is from from Sichuan province of China, which is interesting considering the low cost of electricity in that area. According to the company spokesperson, Chinese miners will be seeking jurisdictions with lighter electricity tariffs after the rainy season ends.
  2. US-based Marathon Patent Group announced a joint venture with US energy provider Beowulf Energy to deliver low-cost ($0.028 / kWh) power to its mining operations. Marathon will co-locate its mining farm at Beowulf’s Big Horn Data Hub adjacent to their Hardin, Montana plant. As part of the joint venture, Beowulf will acquire equity in Marathon and Marathon will retain 100% of the profits from the mining operation.
  3. Bitcoins hashrate has hit an another all-time-high, exceeding 144EH/s on October 13th.