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Bitcoin has fallen more than 72% from the crypto asset’s all-time high, but bitcoin mining operations are expanding at a rapid pace amid the recession. On Tuesday, bitcoin miner Cleanspark said its hash rate exceeded 4 exahashes per second (EH/s), and Texas mining company Rhodium raised $11.9 million, according to a September 19 Securities and Exchange Commission (SEC) Form D filing The company revealed that it had raised $11.9 million. Rhodium also revealed its merger with Silversun Technologies on September 29; two days earlier, Merkle Standard opened a new mining facility in Spartanburg, South Carolina, with a ribbon-cutting ceremony.
Lodium raised $11.9 million and revealed its merger with Silversun Technologies
a recently filed SEC Form D registration explains thatRhodium Enterprises Inc. Rhodium Enterprises, Inc. raised $11.9 million this month, and a Notice of Securities Waiver Offerings published on September 19, 2022filingthat Rhodium and Silversun Technologies merged 10 days later. Ten days later, Rhodium and Silversun Technologiesdetailedthat the two companies would merge.
The newly merged business will file for listing, and the business combination is expected to be finalized by the end of the year. Texas-based Rhodium uses “proprietary technology to self-mine bitcoins,” according to its website.
Cleanspark’s hash rate exceeds 4 exahashes per second
Following a number of announcements over the past three months, Cleanspark, Inc. (Nasdaq: CLSK) revealed Tuesday that its mining operations have surpassed 4 exahashes per second (EH/s). Cleanspark detailed that the company plans to reach its year-end goal of approximately 5 EH/s. In announcing the 4 EH/s milestone, Cleanspark CEO Zach Bradford said that bitcoin mining can decarbonize the economy He stated.
“Bitcoin mining can speed up the decarbonization of the economy if done with low-carbon energy sources in mind,” said CEO Bradford (*32). No other industry can do this like bitcoin.” In addition to being a technology that we believe will revolutionize the monetary system, Bitcoin is also a technology that can revolutionize the energy system and make it more resilient, abundant, and clean.” He stated.
Merkle Standard Opens Data Center in Spartanburg, South Carolina
On Tuesday, Merkle Standard announced that Spartanburg County residents, South Carolina State Treasurer Curtis Loftis BV Power, along with Congressman William Timmons (R-SC), held a ribbon cutting ceremony for the data center. Congressman Timmons said at the ceremony, “It’s great that we are on the cutting edge because digital assets are going to be a part of our lives from now on.”
Local newsreportsthat Merkle Standard’s new facility is a $35 million investment for the Spartanburg County area. Timmons added that Merkle Standard’s new data center has brought about 20 jobs to the county on Tuesday, and that number is expected to grow.
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