Crypto Giggle
LandBridge is a company that purchases land in Texas and New Mexico for the production of oil and gas. It has now decided to diversify into cryptocurrency mining, taking advantage its vast landholdings. LandBridge wants to attract data centers and crypto miners to its infrastructure to generate revenue through surface-use payments. CleanSpark has expanded its Bitcoin-mining operations in Georgia by purchasing five additional sites, while T-Mobile Deutsche Telekom also enters the Bitcoin-mining business. Nvidia is the most valuable company in the world, thanks to the growing demand for GPUs used in AI and crypto-mining.
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LandBridge Eyes Crypto Mining Profits
LandBridge is a U.S. company that purchases large parcels of land to produce oil and gas. It has now decided to diversify its strategy and court cryptocurrency miners. The move is in conjunction with its initial public offer (IPO), which was launched on Monday.
On June 17, the company released a statement stating that it would be offering 14,5 million shares, which they expect to sell for between $19 and $22, potentially valuing the firm at up to $1.6 billion. It announced on June 17 that the company is offering up to 14.5 millions shares at a price between $19 to $22, which could value it as high as $1.6 billion. LandBridge intends to list on the NYSE with the ticker “LB.”
LandBridge has around 220,000 acres of surface land in the Permian basin area in Texas and New Mexico. This subbasin is rich in oil and gas. LandBridge said that it could be used by more than oil and gas companies. It suggested that data centers and crypto-miners could use its water, fiber optics, roads and power.
It expects a large amount of revenue to be generated by billing these companies. The firm has identified the potential to earn surface-use payments for cryptocurrency mining, data centres, power storage and commercial fueling station. It currently has one cryptocurrency mining facility located on its property and in 2023 reported $52.1 in royalty revenues that were not oil and gas related. This is a 56 percent increase over the year before.
LandBridge clarified it would not be involved in the ownership or operation of these projects, nor will they incur any large capital expenses. It expects instead to receive payments and surface-use fees in exchange for its land. This includes fees to provide water to miners to cool their equipment.
Land owned by the company is strategically located to draw crypto-miners, who prefer Texas because of its affordable electricity and friendly regulatory environment. Texas legislators are now beginning to examine the effects of crypto mining and data centers that use artificial intelligence on Texas’ power grid.
Pablo Vegas, the head of ERCOT (Electric Reliability Council of Texas), has expressed concern about the burden these industries put on the grid. Dan Patrick, Texas’ Lieutenant Governor, recently said on social media how these industries create very few jobs in comparison to the strain they put on Texas’ power infrastructure.
CleanSpark seals deal for five new mining sites
CleanSpark is an American Bitcoin miner focused on renewable energy that recently announced it would also acquire five mining operations in Georgia. Deal worth $25,8 Million was announced in June. The deal is scheduled to close on June 18 and will be completed immediately.
It is predicted that the five processing facilities will exceed 3.7 Exahashes Per Second (EH/s), with capacities of 8-15 megawatts for a total 60 MW. CleanSpark expects its hashrate to reach over 20 EH/s at the end of this month.
These newly-acquired facilities also include power purchase agreements with interruptible-load designations to balance the load on local grids. CleanSpark’s CEO Zach Bradford highlighted the positive relationship between Bitcoin miners and the regional energy grid, noting the sites improve load-balancing abilities and help the company achieve its mid-year goal of 20 EH/s operational hashrate.
After former president Donald Trump declared that Bitcoins should be made in the USA, as well as his meeting in private with Riot Platforms’, CleanSpark’s and TeraWulf’s industry leaders, the Bitcoin mining industry has received a great deal of attention in the United States. In an Jun. In a Jun.
The crypto community had mixed feelings about Trump’s remarks. Others, such as Shapeshift’s founder Erik Voorhees see Trump’s remarks positively, while some argue that Trump panders to voters.
The Bitcoin Voter Project was launched by executives of Marathon Digital Holdings (MDH), CleanSpark and Riot Platforms after Trump’s visit where he expressed his support for crypto. This nonpartisan initiative is designed to educate voters about the blockchain and digital assets industry.
T-Mobile Deutsche Telekom to Begin Bitcoin Mining
T-Mobile Deutsche Telekom has announced plans to begin mining Bitcoin. Since 2023, the telecommunications company has operated a Bitcoin Node and currently runs Bitcoin Lightning Network nodes.
Dirk Roder of Deutsche Telekom’s Web3 Infrastructure and Solutions, spoke at BTC Prague about the company’s engagement with “digital financial photosynthesis” but did not go into any details.
Since June 2023, Deutsche Telekom is actively participating in Web3 by serving as a Polygon Validator. The firm, as one of the 100 validators on Polygon, has been providing staking, validation and support services for more than a year. This is to help the platform’s Proof-of-Stake consensus mechanism.
Since February, Deutsche Telekom is also a validator for the Fetch.ai Blockchain. The partnership will help support Fetch.ai’s AI-driven agents that provide services to healthcare, automotive and supply chain management as well as digital identity by managing resources and conducting transactions.
Nvidia is the most valuable company in the world
Nvidia GPUs offer the processing power, energy efficiency and speed required for crypto mining. Nvidia is now the most valuable company in the public market, surpassing both Apple and Microsoft. Its current valuation stands at around $3.34 billion.
It is slightly higher than Apple and Microsoft, which are both valued at $3.29 trillion. Nvidia shares currently trade at $135 after a stock split of 10 for 1 in early June. This was done to increase the stock’s appeal and make it more appealing for inclusion into the Dow Jones Industrial Average.
Nvidia Share Where to Buy? (Source:Google )
Nvidia, founded in 1991 to produce graphics cards for video games with high performance, has now shifted focus on the technology foundations of artificial intelligence. The GPU mining era for cryptocurrencies began in 2010 and ended when ASICs were introduced for cryptocurrency mining.
Nvidia’s graphics processors are essential to industry giants such as OpenAI, Google and Amazon when developing AI systems.
This company has reported strong results for Q1, bringing in $26 billion, of which $22.6 billion came from data centers. Nvidia CEO Jensen Huang announced that Nvidia will be releasing new AI chipsets every year. Nvidia previously released high-end processors every other year. Ampere debuted in 2020, Hopper was launched in 2022 and Blackwell in 2024.
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