Daniel Jonsson, CEO of GreenBlocks, a data center service provider in Iceland, stated that before the emergence of the cryptocurrency mining industry in Iceland, the vast majority of non-guaranteed electricity was not a saleable product, so essentially we are buying electricity that others cannot buy."

Bitcoin mining machine manufacturer Canaan released its quarterly financial performance as of June 30. The company's financial statements showed total revenue of $73 million, an increase of 33.7% from the previous quarter. Canaan announced that its mining revenue has grown. As of the end of the quarter, mining revenue has increased to $15.9 million, a 43.4% increase from the first quarter of 2023's $11.1 million and a 105.1% increase from the same period in 2022.

Bitcoin mining revenue has dropped to levels not seen since November 2022, despite the hash rate reaching new highs. The Bitcoin network hash rate has surged 54% from the beginning of 2023 and 80% over the past year, according to Blockchain.com. However, the revenue has fallen sharply to $0.060 per terahash per second per day, around half of what it was in early May. Bitcoin miners have reportedly been relying on funds from stock sales in the second quarter to keep them afloat during the bear market.

Texas, USA will open a new incentive measure next month aimed at reducing greenhouse gas emissions from burning and emitting gases, providing tax exemptions for energy producers using dispersed emissions to power Bitcoin mining equipment.

Bitdeer Technologies, a bitcoin mining firm founded by Jihan Wu, has completed the construction of a mining facility in Bhutan and is currently conducting power-on testing. The Gedu data center in Bhutan has received around 15,000 additional mining machines, with approximately 11,000 already running stably.

Genesis Digital Assets (GDA) is expanding its U.S. operations, announcing the opening of three new bitcoin mining data centers in South Carolina. One of GDA's new data centers is located near Anderson, and the other two are located between Uniontown and Lockhart. The three sites started operations this year and have a combined capacity of 33 megawatts (MW). Last year, GDA opened a 40 megawatt (MW) mining data center in Texas. GDA is one of the largest bitcoin miners in the world, mining mines in Europe, Asia and North America, and is said to account for about 2% of the total hashrate of the bitcoin network.

Bitcoin mining company Bitfarms produced 378 BTC in July, a decrease of about 2.1% month-on-month and a year-on-year decrease of 24.4%. As of the end of July, the total computing power of Bitfarms was 5.3EH/s, unchanged from the previous month. Additionally, Bitfarms sold 333 BTC this month for a total of $9.9 million.

Bitdeer Technologies, a Singapore-based bitcoin mining company founded by Jihan Wu, has launched a closed-end fund dedicated to mining bitcoin in Bhutan. The Bitdeer Green Bitcoin Fund plans to raise $80 million for its first-phase construction project, with a minimum investment threshold of $5 million from investors. The company aims to build mining projects in Bhutan with a total hashrate of nearly 20 EH/s. Bitdeer previously announced a partnership with Bhutan's state-owned investment company to raise up to $500 million for a crypto mining fund.

Bitcoin mining firm Stronghold Digital Mining announced on Thursday that it has purchased 2,000 Avalon A1346 Bitcoin mining machines from Canaan. These new mining machines cost $3 million and will be delivered in the third quarter.

Bitcoin mining has become an unexpected solution to the "duck curve," a challenge in the renewable energy landscape. This curve reflects the conflict between peak demand periods and peak renewable energy production times, making grid management complicated. Bitcoin mining revenue can promote profitable renewable infrastructure, aiding project financing and scaling the energy grid for a sustainable future.