{"id":7491,"date":"2022-09-29T18:01:37","date_gmt":"2022-09-29T18:01:37","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=7491"},"modified":"2022-09-29T18:01:38","modified_gmt":"2022-09-29T18:01:38","slug":"bitcoin-mining-industry-reveals-mergers-hashrate-increases-and-new-facilities-amid-market-downturn","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=7491","title":{"rendered":"Bitcoin Mining Industry Reveals Mergers, Hashrate Increases, and New Facilities Amid Market Downturn"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>While bitcoin is down more than 72% from the crypto asset\u2019s all-time high, bitcoin mining operations are expanding at a rapid pace during the downturn. On Tuesday, the bitcoin miner Cleanspark said its hashrate has surpassed 4 exahash per second (EH\/s), and the Texas mining company Rhodium revealed it raised $11.9 million, according to a September 19 Securities and Exchange Commission (SEC) Form D filing. Rhodium further disclosed a merger with Silversun Technologies on September 29. Two days ago, Merkle Standard held a ribbon-cutting ceremony as it opened a new mining facility in Spartanburg, South Carolina.<\/strong><\/p>\n<h2>Rhodium Raises $11.9M, Reveals Merger With Silversun Technologies<\/h2>\n<p>A recently filed SEC Form D registration explains that Rhodium Enterprises, Inc. raised $11.9 million this month, according to a notice of an exempt offering of securities filing published on September 19, 2022. Ten days later, Rhodium and Silversun Technologies detailed the two companies will be merging.<\/p>\n<p>The newly merged operation plans to apply for a public listing and the business combination is expected to settle by the end of the year. The Texas-based Rhodium utilizes \u201cproprietary tech to self-mine bitcoin,\u201d according to the firm\u2019s website.<\/p>\n<h2>Cleanspark Hashrate Exceeds 4 Exahash per Second<\/h2>\n<p>Following a number of announcements during the last three months, Cleanspark, Inc. (Nasdaq: CLSK) revealed on Tuesday that the company\u2019s mining operations have surpassed 4 exahash per second (EH\/s). Cleanspark details that the company is on schedule to meet the end-of-the-year goal of around 5 EH\/s. Cleanspark\u2019s CEO Zach Bradford said during the 4 EH\/s milestone announcement that bitcoin mining can decarbonize the economy.<\/p>\n<p>\u201cBitcoin mining, when done with an eye toward low-carbon energy sources, can hasten the decarbonization of our economy,\u201d Bradford remarked. \u201cNo other industry can do this like Bitcoin. In addition to being a technology that we believe will revolutionize our monetary system, Bitcoin is also a technology capable of revolutionizing our energy systems, making them more resilient, abundant, and clean.\u201d<\/p>\n<h2>Merkle Standard Opens Data Center in Spartanburg, South Carolina<\/h2>\n<p>On Tuesday, Merkle Standard held a data center ribbon-cutting ceremony with residents of Spartanburg county, South Carolina state treasurer Curtis Loftis, BV Power, and congressman William Timmons (R-SC). \u201cThis is the future, so digital assets are going to be a part of our lives going forward and it\u2019s great that we\u2019re on the leading edge,\u201d Timmons said during the ceremony.<\/p>\n<p>According to the local news reports, Merkle Standard\u2019s new facility is a $35 million investment in the Spartanburg county region. Timmons further noted on Tuesday that Merkle Standard\u2019s new data center has provided the county with roughly two dozen jobs and he added that the number is expected to grow.<\/p>\n<p>Tags in this story<\/p>\n<p>$11.9 million, 4 EH\/s, 5 EH\/s, Bitcoin Miners, Bitcoin mining, BTC miners, BTC Mining, BV Power, Cleanspark, Curtis Loftis, data center, Merger, Merkle Standard, mining bitcoin, Mining BTC, mining facilities, mining rigs, Rhodium, Rhodium and Silversun Technologies, Silversun Technologies, south carolina, Spartanburg County, Texas, William Timmons, Zach Bradford<\/p>\n<p><em><strong>What do you think about the bitcoin mining operation expansions during the last week amid the crypto winter\u2019s downturn? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n<p>Jamie Redman <\/p>\n<p class=\"article__body__author__info__about\">\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.<\/p>\n<p><i class=\"td-icon-font td-icon-twitter\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/bitcoin-mining-industry-reveals-mergers-hashrate-increases-and-new-facilities-amid-market-downturn\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>While bitcoin is down more than 72% from the crypto asset\u2019s all-time high, bitcoin mining operations are expanding at a rapid pace during the downturn. On Tuesday, the bitcoin miner Cleanspark said its hashrate has surpassed 4 exahash per second (EH\/s), and the Texas mining company Rhodium revealed it raised $11.9 million, according to a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7492,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-7491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7491"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7491\/revisions"}],"predecessor-version":[{"id":7493,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7491\/revisions\/7493"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/7492"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}