Good news for American bitcoin companies, someone who wants much lighter Bitlicense regulations is in the running to be the next New York attorney general. And in China, a bitcoin mining hardware producer is planning a $1 billion IPO. These stories and much more in today’s edition of Bitcoin in Brief.
Bitcoin Supporter for NY AG
A bitcoin supporter wants to replace New York Attorney General Eric Schneiderman, who recently resigned after four women complained about non-consensual physical violence by him. Manny Alicandro has announced his candidacy on the Republican ticket. He is a stock market lawyer, former stand-up comedian, and a bitcoin enthusiast as the Wall Street Journal reports.
Alicandro expects his campaign to highlight the current harsh regulation of bitcoin. He said he’d like to see lighter rules for cryptocurrency businesses, arguing that the Bitlicense is hurting jobs and stifling innovation. He serves as an adviser to several blockchain startups and is a small investor in bitcoin and several other cryptocurrencies himself. The report adds that the AG candidate is currently checking if it is permissible for his campaign to accept donations in bitcoin.
Canaan Seeks $1 Billion IPO in Hong Kong
Canaan Creative Co. Ltd, the Chinese company behind the Avalon lineup of hardware equipment which produces ASIC mining chips and rigs, is now reportedly planning to launch an IPO in Kong Kong and raise up to a billion USD. As we previously reported, the company was also eyeing the US for a possible IPO market but has now ditched that option according to people familiar with the matter cited by the South China Morning Post.
Warren Buffett Produces Bitcoin Mining Hardware?
Warren Buffett, the chairman and CEO of Berkshire Hathaway, has recently attacked bitcoin by saying among other things that the cryptocurrency is “probably rat poison squared.” Therefore he would probably be very surprised to find out that he is involved with it in some way. According to reports from Canada, Climate Solutions TMI, a subsidiary of Berkshire Hathaway, has begun producing “portable cryptocurrency mines” for Montreal-headquartered data-centers firm Kelvin Emtech.
These “portable mines” are containers with specialized ventilation systems needed to keep 1,200 rigs cool inside a metal box. They are said to be deployable anywhere in the world in two days, each consumes 2 MW of electricity, and can generate around $1 million in cryptocurrency revenue each month. “We wanted it to be easily transported by truck, boat or train. The goal is not to move them all the time, but rather to eliminate the problem of access to electricity. We want to bring these cryptocurrency mines as close as possible to the hydroelectric plants and the remote areas where Hydro-Québec has excess electricity to sell,” explained Fooad Nejad of Kelvin Emtech. “We get to recover between 80 and 97% of the heat produced. Containers could be placed near marijuana greenhouses or community centers, for example, and provided free of charge to partners. It’s like saying, ‘I’m scratching your back, you’re scratching my back’,” he added. The company also believes that this order will create about 200 jobs in the area.
Amana Capital Adds Cryptocurrency CFDs
Amana Capital, a Middle Eastern financial services group, is the latest online trading brokerage to add cryptocurrency-based contracts for difference (CFDs). The company explains it took the move due to “the increased demand for cryptocurrencies.” As a first phase, Amana will offer its clients the option to trade BTC, ETH, LTC, and XRP on its MetaTrader 5 platform, with additional cryptocurrencies promised to be added in the future.