Intel to announce their own Bitcoin ASIC, Pakistan considering crypto-ban and $1,7b IPO for BTC miner

Photo by Quantitatives.io on Unsplash

Bitcoin miner Rhodium set for IPO, valued at $1.7 billion

The first IPO for the crypto industry in 2022 comes from a Texas-based Bitcoin mining company Rhodium Enterprises.

In an SEC filing made last week, Rhodium plans to offer 7.69 million shares at $12-$14 each in an initial public offering (IPO). Trading under the ticker “RHDM” on Nasdaq, 56.8 million class A and 67.5 million class B shares will be released, ultimately valuing the company at $1.7 billion.

According to the filing, Rhodium currently runs 125 megawatts (MW) of mining power capacity at its first Texas site. Hence, 33,600 Bitcoin miners are running, churning out a total combined hash rate capacity of approximately 2.7 EH/s.

Source: Cointelegraph

Pakistan Is Considering Ending All Crypto Activity

Pakistan could be the next country to ban cryptocurrency. The nation’s central bank is calling for an outright ban on all digital currency activity per documents submitted to the Sindh High Court, the country’s biggest legal establishment.

The fight has allegedly been going on since the year 2019. A petition was filed during that time which sought to remove present bank guidance that told banks and standard financial institutions to think twice before getting involved in crypto.

The court then sought information from a committee run by the central bank’s deputy governor. The committee has since turned in a report which says the following:

The State Bank of Pakistan has concerns over the trading of cryptocurrencies by individuals and entities, as it results in outflow of foreign exchange from the country.

Intel to unveil ‘Ultra Low-Voltage Bitcoin Mining ASIC’ in February

Intel, one of the world’s largest chipmakers, is likely to unveil a specialized crypto-mining chip at the International Solid-State Circuits Conference (ISSCC) in February

One of their “Highlighted Chip Releases” is entitled “Bonanza Mine: An Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC.”

This brings the company into direct competition with the likes of Bitmain and MicroBT in the market for bitcoin mining ASICs, or application-specific integrated circuits, for the first time.

Source: Coindesk

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