Happy Sunday, y’all!

Bitcoin is cooling-off from hitting a new all-time high after pulling off its highest weekly close ever. But it’s still above $60,000, and hashprice and rig prices are all the better for it.

Hashrate is coming on less rapidly than we’ve been accustomed to post-China ban, but we’ve still got another positive adjustment coming up in a week. And in the news this week were plenty of reminders that North American companies are working tirelessly to finance and build out infrastructure to continue capitalizing on the great hashrate migration.

So with that, let’s get up to speed.

Hashprice Index

• Bitcoin Price (24H): $60,028 (-1.3%)
• Hashprice (TH/s/day): $0.3800 (-2.4%)
• Average Fee Percentage per Block (24H): 1.07%
• Network Hashrate (7-day SMA): 149.50 EH/s (+4.2%)

Hashprice

Hashprice is down by a cent from the last the roundup after hitting a new yearly high this week. Currently, hashprice is $0.38/TH.

Price and Difficulty

We had a tiny, 0.95% upward adjustment this past Monday to put us at a 20.08 T difficulty, and we’ve got another smaller adjustment coming in roughly a week which is estimated to be in the ballpark of 2-3%.

Assuming the next adjustment is upward, that will make 8 positive adjustments adjustments in a row. Still, these recent adjustments have been much less drastic than those that immediately followed the hashrate blackout from China as hashrate growth has slowed in recent weeks.

BRRR (Emission Schedule)

Transaction fees are still slogging behind Bitcoin’s price and hashprice. Last week, fees once again made up roughly 1-2% of block rewards.

Crypto Mining Stock Index

The index was soaring this week with Bitcoin climbing to a new ATH, but it settled by the end of the week to just a few bucks above where it began. Smaller cap stocks led the way as mining blue-chips like Hut 8, Riot, and Marathon cooled off from their explosive price action this month.

Rig Index

• Capex/TH (<35J/TH): $101.33
• Estimated Payback Period: 298 days

Rig Price Index

With Bitcoin flying high, rig prices are creeping back towards their yearly highs, as well, with hardware of all specs (except mid-gen machines) rising last week.

• Under38 J/TH: $101.33 (1.8%)
• 38-60 J/TH: $68.21 (0%)
• 60-100 J/TH: $43.00 (9%)
• Over 100 J/TH: $22.70 (12.8%)

Profitability of Popular SHA-256 ASIC

With hashprice taking a breather, the per-day reward potential for popular rigs fell slightly:

• Antminer S19 Pro: $41.78

• Antminer S19: $36.09
• Whatsminer M30S++: $42.54
• Whatsminer M30S: $33.43
• Antminer S17+: $27.73
• Whatsminer M20S (70TH): $26.59
• Antminer S9: $4.37

New From the Hashrate Index Blog

Bitcoin Mining Uses Less Energy Than Christmas Lights—A Breakdown of Bitcoin Mining Council's Q3 Report

The Bitcoin Mining Council released their Q3 report last week, and Michael Saylor hosted a livestream with 8 council members to discuss some of the changes they are witnessing throughout various sectors of the Bitcoin and mining industries. You can peep the highlights in one of our latest blog posts.

Bitcoin Home Mining Guide: Everything You Need to Know to Start Mining Bitcoin at Home

Want to start mining at home or know someone who does? This home mining guide covers all the questions and considerations you need to make before firing up hashrate one the homefront.

Bitcoin Mining With Pig Manure: From Organic Disposal to Digital Currency

Bitcoin miners will use anything to power their rigs if it makes good economic sense. Case in point: these miners in Mexico who are using pig shit to run their rigs.

News Roundup

Ethereum’s Difficulty Bomb Delayed Until June 2022

Ethereum 2.0’s tentative launch has been delayed (again) to the Spring of 2022, so that means Ethereum’s difficulty bomb—a technical measure which will exponentially increase Ethereum’s mining difficulty until the chain is rendered unusable—is being delayed, too. Developers have authored an EIP to diffuse the bomb until June 2022.

Atlas Mining to Migrate Over 3 EH of Equipment to US in Partnership with Compute North

Atlas Mining, a Singapore-based mining firm, is migrating its ASIC fleet to the US following China’s mining crackdown. The company will be moving some 3.7 EH into Compute North’s hosting facilities, and it anticipates that this hashrate will be online by Q1 of next year.

Mechanical Technology Inc. Seeks $16.3M Raise Through Convertible Note Financing

Mechanical Technology Inc. (MTI), a North American energy infrastructure producer and Bitcoin miner, is raising $16.3 million through a convertible note offering. These notes will be convertible to common stock in MTI, and the company plans to use the funds to build out the MW capacity and hashrate of its mining operations.

Stronghold Debuts On NASDAQ, Surges On Opening Day

Stronghold Digital Mining had its opening day on the NASDAQ this week, with the IPO sporting a price of $19 per share and Stronghold bagging $127 million from the 6.88 million shares it sold. The stock surged in the hours after the opening bell to a peak of $31.90, before falling over the course of the week to $25.36 by Friday’s close.

Greenidge Expands to South Carolina, May Make Moves Into Texas

Greenidge Generation Holdings is inking a $15 million deal with a printing company in Spartanburg, SC to purchase a 175 acre lot with 750,000 square feet of industrial buildings. Additionally, the mining company is also seeking out real estate in Texas with multiple sites under evaluation.