ChainCatcher news, the Web3 industry research and analysis platform Web3Caff Research recently released an in-depth report on the ZKP hardware acceleration project Cysic. Web3Caff Research researcher Bob pointed out in the report that zero-knowledge proofs (ZKP) have a history of nearly 40 years and are widely used in privacy protection and layer two scaling in blockchain. However, due to high computational resource consumption and slow verification speeds, user growth is limited. Therefore, hardware acceleration has become a key solution. FPGA and GPU have already implemented multiple ZKP products, while the more performant ASIC is considered the "Mount Everest" of the industry due to high costs and uncertainties. Currently, Cysic, as the only team developing ZKP ASIC, has the potential to unlock a market worth billions.The report further points out that ZKP is one of the core technologies of Web3, and ZKP hardware acceleration is still in its infancy. Compared to Cysic, both the current industry methods of operating open-source code libraries to accelerate GPUs and building FPGA clusters are still in the early trial-and-error stage. Cysic provides a user-friendly ZKP acceleration solution and is currently the only product open for testing and pushing to the market, with its testnet having entered Phase 2. Its performance is claimed to be 5 to 10 times faster than GPU acceleration, with plans to launch the mainnet by the end of 2024. Additionally, Cysic's ZK-ASIC hardware products are highly anticipated, with two models expected to be launched in 2025, targeting both enterprise (B-end) and consumer (C-end) markets. Although there are doubts about ZK-ASIC within the industry, from a long-term development perspective, introducing ASIC to establish a ZKP "mining" model could be a key step in promoting ecological development.

ChainCatcher news, according to Ki Young Ju, founder and CEO of CryptoQuant, there are currently about 4.43 million ASIC miners providing computational power support for the Bitcoin network, pushing the total network hash rate to a historical high.This growth mainly comes from the increase in the number of miners, rather than improvements in chip performance. Since the beginning of this year, the number of miners has increased by 826,000 units, a year-on-year growth of 23%.

ChainCatcher news, according to Jin10, Grant Colthup, the former CEO of the Australian cryptocurrency exchange Mine Digital, is facing a fraud charge for allegedly stealing $1.47 million (2.2 million AUD) from a client who had attempted to convert funds into Bitcoin.The Australian Securities and Investments Commission (ASIC) stated in a release on October 21 that a Mine Digital customer paid $1.5 million to ACCE Australia but never received the cryptocurrency.ASIC alleges that Colthup either used these funds to repay ACCE's debts, purchased cryptocurrency for others, or both.

ChainCatcher news, Allan Kirkland, a commissioner of the Australian Securities and Investments Commission (ASIC), stated at the AFR Digital Assets Summit that many cryptocurrency companies will need to obtain financial services licenses under the Corporations Act.ASIC believes that certain crypto assets should be classified as financial products, but there is uncertainty due to the crypto sector not fully aligning with the current regulatory framework. ASIC plans to update its guidelines before November to clarify the classification and treatment of relevant crypto tokens. ASIC has also strengthened its regulation of the crypto industry, recently taking enforcement action against Kraken and the Australian Securities Exchange (ASX).

ChainCatcher news, Riccardo "Fluffypony" Spagni, the former chief maintainer of the privacy blockchain Monero, has launched a new mining application called Tari Universe. This application aims to "democratize" cryptocurrency mining by using an ASIC-resistant hashing algorithm that allows users to mine with regular computers. After the recent release of this application, Spagni stated that his goal is to make mining easier for everyone, "We want to create an experience where technology gradually fades into the background. Tari Universe is about empowering users rather than suppressing them."Spagni is promoting the L1 protocol, despite facing fraud and forgery allegations from his former employer Cape Cookies. In June of this year, a report from Mybroadband stated that Spagni defrauded Cape Cookies of approximately $83,400 between October 1, 2009, and June 8, 2011. However, South African authorities did not take action until August 2021, when they requested U.S. authorities to arrest him.Since his arrest and subsequent extradition to South African authorities, Spagni has maintained his innocence and attempted to overturn the arrest warrant. However, the South African Supreme Court of Appeal denied this request.

ChainCatcher news, according to official sources, Bitmain and Hut 8 have collaborated to launch the next-generation ASIC miner U3S21EXPH. Hut 8 plans to deploy this miner through a hosting agreement of approximately 15 EH/s in the second quarter of 2025, aiming to support the custom data center infrastructure developed internally by Hut 8.It is reported that the U3S21EXPH will become Bitmain's first mass-produced U-type ASIC miner, utilizing direct liquid cooling to chip (DLC) technology.

ChainCatcher news, Bitdeer Technologies Group announced its plan to publicly issue $150 million in convertible notes, maturing on August 15, 2029, to expand its data centers and develop ASIC-based mining equipment.It is reported that these notes are the company's senior unsecured debt, with an annual interest rate of 8.5%, unless converted, redeemed, or repurchased early.

ChainCatcher news, the F2Pool Twitter post states that with a BTC price of $54,000, ASIC miners with a power consumption of 23 W/T or higher will be in a loss situation at an electricity price of $0.07 per kWh.

ChainCatcher news, according to The Block, Jack Dorsey's mobile payment company Block, Inc. (SQ) and Core Scientific (CORZ) announced an agreement to provide Core Scientific with Block's new 3-nanometer mining ASIC, which was developed by Block's Proto team and is equivalent to approximately 15 EH/s in hash rate.

ChainCatcher message, this week Bitcoin's difficulty decreased by 5% to 79.5T, marking the largest drop since the difficulty briefly fell below 80T in March. F2pool analysis suggests that only when the Bitcoin price is at $54,000 or above, ASIC miners with a power consumption of 26W/T or lower can be profitable, with an estimated profit of $0.07 per kilowatt-hour. It is important to note that electricity prices vary by region.

ChainCatcher message, according to f2pool data, the Bitcoin trading price has fallen below $58,000, causing inefficient mining machines to face challenges under the current market conditions. Based on an electricity cost of $0.08 per kWh, ASIC miners with an efficiency of less than 23 W/T are already in a loss state.

ChainCatcher news, according to Bitcoin.com, the Los Angeles Police Department (LAPD) stated that 26-year-old Bryan Thola was arrested and charged with stealing $579,000 worth of specialized integrated circuit (ASIC) Bitcoin mining machines. Local reports confirm that the man has been released from jail, and the LAPD stated that the investigation is still ongoing.

ChainCatcher news, Bitdeer has agreed to acquire ASIC mining chip designer Desiweminer through an all-stock transaction, valued at $140 million.It is reported that the Desiweminer team will join Bitdeer's ASIC design team in Singapore, and products that integrate the technologies of both companies will be launched soon.

According to ChainCatcher, as reported by CoinDesk, Bitcoin infrastructure company Blockstream is expected to launch its dedicated integrated circuit (ASIC) miners around the third quarter of 2024. The company acquired Israeli mining manufacturer Spondoolies in 2021 and brought the core team of the manufacturer into Blockstream's mining division. In January of this year, Blockstream completed a $125 million financing round to expand its Bitcoin mining services. The new ASIC miners were initially scheduled for release in 2022, but are now expected to be launched in the second half of 2024. (CoinDesk)

ChainCatcher news, according to Cointelegraph, Joseph Longo, chairman of the Australian Securities and Investments Commission (ASIC), called for the closure of a regulatory loophole during a parliamentary event, which previously allowed FTX to obtain an Australian Financial Services License (AFSL) without undergoing a thorough examination.FTX acquired the Australian online forex and commodities trader IFS Markets in December 2021 and obtained its AFSL, allowing FTX to bypass the usual process for obtaining an AFSL. FTX Australia officially launched operations in March 2022. On November 16, ASIC suspended FTX Australia's financial services license, with the decision effective until May 15, 2023.It is reported that ASIC can only conduct a comprehensive review when a company applies for a new AFSL, to determine whether it has adequate compliance and capital control measures. (Cointelegraph)