Transaction URL: https://etherscan.io/tx/0x3554709abb04500ba5d3f0eebb425cab3eebbb3a7ab3154eb6dd7cff14e4a9a0
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CleanSpark Inc., a leading Bitcoin mining firm, has acquired seven new mining facilities and associated land in Knoxville, Tennessee, investing $27.5 million. The acquisition enhances CleanSpark’s infrastructure and aligns with its strategy to acquire premium assets at competitive prices. This move will bolster the company’s operational capacity with an additional 85 MW across the sites, varying between 10 MW and 20 MW each.
The company is set to increase its operating hashrate by over 22% as it integrates the latest generation S21 pro miners, projecting a total of 5 exahashes per second. With the recent energization of their Dalton 4 campus and the anticipated deployment of new miners, CleanSpark expects to reach an impressive 37 EH/s by year-end.
CEO Zach Bradford highlighted the strategic expansion into Tennessee, citing its favorable political and energy environment akin to Georgia, where CleanSpark has heavily invested. He emphasized the benefits to local communities and the power grid, continuing their community-focused approach to sustainable growth in Bitcoin mining.
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Welcome to the On the Margin Newsletter, brought to you by Ben Strack and Casey Wagner. Here’s what you’ll find in today’s edition:
The last big inflation print ahead of the Fed’s interest rate decision is in.
After no crypto chatter during last night’s debate, one exec says “we shouldn’t pin all our hopes on politics.”
The newest US-licensed SPBD said it will list its own stock as a digital asset security first.
CPI shows no surprises
We are one week out from the Fed’s next interest rate decision,…
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The UK Parliament has launched a groundbreaking move by passing the Property (Digital Assets etc) Bill, officially recognizing Bitcoin, cryptocurrencies, and other digital assets as personal property. This pioneering legislation positions Britain at the forefront of the global crypto race, according to Justice Minister Heidi Alexander. The bill extends legal protections to owners of digital assets, safeguarding against fraud and theft and offering clear resolutions in property disputes involving digital holdings.
Justice Minister Heidi Alexander emphasized the necessity of adapting legal frameworks to keep up with technological advancements. “This legislation ensures our legal sector remains a powerhouse, driving economic growth and securing Britain’s status in the international legal arena,” she stated. The new law fills a significant void by providing legal clarity previously absent in English and Welsh property law, which left digital asset owners vulnerable.
By categorizing digital assets as a distinct property class, the UK not only enhances legal protections for its citizens but also sets a precedent for legal innovation in the digital age. This move is expected to attract further business and investments, bolstering Britain’s leadership in the global legal services industry.
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The Solana validator world is an interesting tangled web right now.
For starters, tips and fees on Solana transactions have declined along with the price of SOL from pretty stellar levels over the summer. As we covered last week, smaller validators are particularly hard-hit by this, especially since the Solana Foundation lowered its commission caps for validators receiving stake from its delegation program.
For those smaller validators, and all Solana validators in general, the entire ballgame is drawing more delegated stake….
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The Bitcoin network’s mining difficulty surged by 3.6% to a new all-time high on Wednesday, according to blockchain explorer Mempool. Reaching a staggering 92.67 trillion at block height 860,832, this adjustment surpasses the previous peak of 90.67 trillion recorded in late July. This escalation reflects growing computational efforts and power requirements as miners work to generate new blocks.
Additionally, over the weekend, Bitcoin’s total hash rate hit a record high. Data from The Block indicates that the seven-day moving average reached an unprecedented 693.84 EH/s, showcasing the intense activity and robust participation by miners in the network.
This rigorous adjustment process, which occurs every 2016 blocks—or approximately every two weeks—ensures a new block is found every 10 minutes on average, maintaining the network’s efficiency and reliability, regardless of fluctuations in miner numbers.
The UK Parliament has introduced the Property (Digital Assets etc) Bill today to officially and legally recognize Bitcoin, cryptocurrency, and other digital assets as personal property. With this new legislation, for the first time, British law would officially protect digital holdings such as Bitcoin and other cryptocurrencies, non-fungible tokens (NFTs), and carbon credits.
“It is essential that the law keeps pace with evolving technologies and this legislation will mean that the sector can maintain its position as a global leader in cryptoassets and bring…
Read more on BitcoinMagazine