Cetoex News – Bitcoin has been going through a tough period recently. Following the market dump after the SEC lawsuit against Binance and Coinbase, the price of BTC has failed to gain momentum. According to data from CoinMarketCap, BTC is currently trading at $25,841, with no major movements in the last 24 hours. From a monthly high of $28,432, BTC has plummeted to its current price.

The falling prices have definitely triggered the BTC miners. The latest data from Glassnode shows that Bitcoin miners have ramped up BTC transfers to centralized exchanges since May 31.

BTC miners moved 6671.99 BTC since May 31

According to Glassnode data, Bitcoin miners have moved 6671.99 BTC to exchanges since May 31. Miners moved 2,606 BTC alone on June 3. The number depicts the largest single-day tally in over four years.

The 14-day average of miner transfers has risen to 489.26 BTC. The numbers are the highest since March 2021. Movements like these are likely indications that the miners are moving to liquidate their BTC. However, the amount of movement recently has not been large enough to affect the price of Bitcoin in a negative manner.

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Cetoex News – TeraWulf announced today that the company has now fully energized its 50-MW stake in the Nautilus Cryptomine facility. It is the first-ever US Nuclear Powered Bitcoin Mining Plant. The Nautilus facility is the first of its kind; the mining facilities are powered by more than 91% zero-carbon energy.

The Company successfully deployed its full share in phase one of the nuclear-powered Bitcoin mining facility – 50 MW and 1.9 EH/s – ahead of schedule. According to Terawulf, it has the option to add an additional 50 MW of mining capacity at the Nautilus facility, which the Company plans to deploy in future phases.

Additional Miners and Facilities

TeraWulf also has an operational fleet of approximately 34,500 of the latest-generation miners. This includes 18,500 miners at its wholly-owned Lake Mariner facility in New York. There are also 16,000 self-miners at the nuclear-powered Bitcoin Nautilus facility in Pennsylvania. “Our team has been working swiftly and diligently to achieve our stated goal of reaching 5.5 EH/s of operational mining capacity in Q2 2023,” Paul Prager, Chairman and CEO of TeraWulf, said today.

“Deploying 50 MW of mining capacity at the Nautilus facility is an important milestone for the Company. Not only does it represent the first nuclear-powered Bitcoin mining facility in the U.S., but TeraWulf now has the opportunity to realize the economic advantage of 50 MW of zero-carbon mining at what is arguably the lowest contracted power cost in the sector – just $0.02/kWh for a term of five years.”

Additionally, TeraWulf currently has 60 MW operational at Lake Mariner and is in the final stages of construction on Building 2. This will increase Lake Mariner’s operational capacity to over 110 MW in the coming weeks. Combined, the Company expects to have a total operational capacity of 50,000 miners (5.5 EH/s) in Q2 2023. Correspondingly, it will present approximately 160 MW of power demand.

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Cetoex News – Arizona Senator Wendy Rogers had introduced a bill in January that would make Bitcoin legal tender in the state. It was one of the proposed moves to make the king of cryptocurrencies a legal tender in the state.

The proposed legislation, SB 1235, aims to make an amendment to Chapter 9 regarding the legal tender accepted by the state. The bill outlines the types of currencies that are recognized as legal tender in the state. This also includes the addition of Bitcoin to this important list.

In one of the recent reports by Bloomberg, it has come to light that Arizona Governor Katie Hobbs blocked a bill that would remove taxes on Bitcoin mining.

Arizona Governor Katie Hobbs Vetoes the bill

According to the latest news, Arizona Governor Katie Hobbs has vetoed the bill that would exempt the municipality from taxing residential cryptocurrency mining operations. Hobbs stated that the bill would tie the hands of local stakeholders.

The bill, SB 1236, which would have segregated blockchain technology as a state matter, was stopped by Hobbs. The proposed bill will block the governments from “imposing taxes or fees on any person or entity for running a node on blockchain technology in a residence.”

However, the bill was vetoed by Hobbs with a veto message. The bill seeks to restrict local policymaking.

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