The hottest Finance Substack posts right now

And their main takeaways
Category
Top Finance Topics

Alert: Central Bank of Nigeria Circular PSM/DIR/CON/INM/019/098

RegAlert • 0 implied HN points • 09 Mar 23
💰 Finance Regulatory Banking Financial inclusion Security
  1. The Central Bank of Nigeria has issued a draft for a regulatory framework for agent banking to enhance financial inclusion and provide more access to financial services.
  2. The draft framework aims to streamline operations at agent locations and improve the security of customers' funds.
  3. Banks, financial institutions, payments service providers, and the public have been invited to share their feedback on the draft by March 22, 2023.

Tik tok, the 800,000th block

Miner Weekly • 0 implied HN points • 22 Jul 23
💰 Finance Regulation Hardware & Infrastructure Financial Corporate Feature
  1. Bitcoin is approaching the 800,000th block, leaving only 40,000 blocks until the 2024 halving.
  2. Vanguard has increased stakes in Riot and Marathon mining stocks through index funds, not necessarily showing direct bullish sentiment towards mining companies.
  3. Industry news includes Bitcoin mining regulation, hardware advancements, financial moves like Argo Blockchain's share sale, and corporate outlook such as HIVE CEO's revenue expectations.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/001/071

RegAlert • 0 implied HN points • 06 Apr 23
💰 Finance Regulation
  1. The Central Bank of Nigeria has issued a circular regarding guidelines on managing dormant accounts and unclaimed balances in financial institutions.
  2. Financial institutions are asked to provide feedback on the draft guidelines within three weeks.
  3. The circular provides a link to download the full document for reference and review.

Equity financing is warming up, finally

Miner Weekly • 0 implied HN points • 14 Aug 23
💰 Finance Bitcoin Mining Regulation News Hardware and Infrastructure News Financial News
  1. Equity financing in the mining industry has shown growth in Q2, with large miners raising over $430 million, a 60% increase from the previous quarter.
  2. Mining companies like Cipher and Riot are engaging in stock offering agreements that could potentially bring in proceeds of up to $1 billion, indicating a positive trend in equity financing.
  3. The rise in equity financing aligns with strong mining stock performance and increased investments in infrastructure, pointing towards potential growth in mining operations ahead of bitcoin's halving next year.
Get a weekly roundup of the best Substack posts, by hacker news affinity:

Halving came early for mining stocks

Miner Weekly • 0 implied HN points • 02 Oct 23
💰 Finance Stocks Bitcoin Mining Financial News
  1. Bitcoin mining stocks saw a sharp decline of about 50% in Q3, outperforming bitcoin and Nasdaq.
  2. Volatility in mining stocks coincided with equity financing by public mining companies to fuel growth.
  3. Potential in mining stocks lies in choosing operations with low costs, high efficiency, a strong balance sheet, and a track record of delivering on promises.

Top miners spend $1.2B in pre-halving shopping spree

Miner Weekly • 0 implied HN points • 07 Dec 23
💰 Finance Cryptocurrency Investment Regulation Corporate News Financial News
  1. Top miners have collectively spent over $1.2 billion on bitcoin mining machines in preparation for the upcoming halving, with a significant portion of this expenditure happening in the past two months.
  2. Chinese miner manufacturers, particularly MicroBT and Bitmain, have been major beneficiaries of the $1.2 billion investment by public mining companies.
  3. There is a notable trend of public mining companies engaging in self-mining activities, such as hosting miners in profit-sharing agreements and purchasing significant numbers of specific miner models.

Core Settles $34M Claims Stemming from 70K Non-Existent Miners

Miner Weekly • 0 implied HN points • 04 Jan 24
💰 Finance Regulation Hardware Corporate Financial Feature
  1. Core Scientific settled a $34 million claim with Sphere 3D and Gryphon Digital Mining due to 70,000 nonexistent miners, shedding light on failed grand plans during the crypto winter of 2022.
  2. The dispute arose when Gryphon failed to deliver the promised 70,000 mining units, leading to legal battles and bankruptcy filings, emphasizing the risks in the volatile crypto industry.
  3. In the cryptocurrency mining world, promises and contracts must be carefully scrutinized, as demonstrated by the fallout from NuMiner's unfulfilled promises and its impact on major companies like Core Scientific and Sphere 3D.

BlackRock Loads Up On Bitcoin Mining Stocks

Miner Weekly • 0 implied HN points • 01 Feb 24
💰 Finance Investing Cryptocurrency Regulation Corporate News Hardware & Infrastructure
  1. BlackRock increased its holdings in Bitcoin mining stocks significantly, with total investments rising from $76 million to $775 million.
  2. There is a trend of equity dilution among mining companies, showing a shift in funding strategies to avoid over-leveraging.
  3. Other investment firms like Vanguard and Hansainvest have also been increasing their positions in mining stocks, with different approaches such as ETFs or direct ownership.

Public Miners Stock Up BTC Reserves

Miner Weekly • 0 implied HN points • 08 Feb 24
💰 Finance Mining Regulation Hardware Corporate Financial
  1. Public mining companies are increasing their Bitcoin reserves, reaching a total of 40,000 BTC for the first time since May 2022.
  2. Some public mining companies have been selling a portion of their monthly Bitcoin production, but others, like Riot, plan to retain more in the near term.
  3. The level of Bitcoin liquidation varies among mining companies, with some selling less than others and some even selling more than they mine in a month.

Your Halving Cheatsheet: 2020 vs 2024

Miner Weekly • 0 implied HN points • 18 Apr 24
💰 Finance Bitcoin Cryptocurrency Mining Regulation Market Analysis
  1. Bitcoin's mining difficulty has increased significantly over the past four years, making mining 5.36 times harder with an average hashrate increase from 115 EH/s to 640 EH/s.
  2. The daily block subsidies in Bitcoin will halve from 900 BTC to 450 BTC after the upcoming halving, potentially leading to a rise in transaction fees as a percentage of block rewards.
  3. The reshuffle of Bitcoin mining pools over the years reflects a shift from China-based pools to North American ones, indicating a consolidation and institutionalization of mining activities.

Negative Margins Become a Harsh Reality Post-Halving

Miner Weekly • 0 implied HN points • 02 May 24
💰 Finance Bitcoin Mining Corporate News Regulation News Hardware and Infrastructure News
  1. Bitcoin's hashprice has decreased significantly post-halving, hitting new lows like $45/PH/s, causing challenges for miners.
  2. Miner operators can't control the hashprice but can manage hashcosts, which are crucial for maintaining profitability.
  3. The decline in bitcoin's hashrate might eliminate inefficient mining operations and reduce network difficulty.

AI Fueling the Next Mining Stocks Rally?

Miner Weekly • 0 implied HN points • 23 May 24
💰 Finance Cryptocurrency Stocks Regulation Hardware Infrastructure
  1. Bitcoin mining stocks have shown varied performance after the halving, with some outperforming bitcoin's returns.
  2. The Price-to-Hash (P/H) ratio is a key metric for evaluating public bitcoin miner companies, indicating the estimated dollar value per TH/s investors pay.
  3. Companies like BTBT, IREN, and HUT8 have expanded into AI/HPC, lowering their enterprise values and potentially fueling a rally in their stocks.

Alert: Central Bank of Nigeria Circular BKS/DIR/CIR/GEN/001/001

RegAlert • 0 implied HN points • 09 Jun 23
💰 Finance Banking Regulations Compliance Transactions
  1. Financial institutions in Nigeria must stop using old cheques and follow the new Nigeria Cheque Standards 2.0 by December 31, 2023, or face penalties.
  2. The change is due to the Revised Nigeria Cheque Standard (NCS) and Nigeria Cheque Printers Accreditation Scheme (NICPAS) 2.0 to ensure compliance and uniformity.
  3. Instructions are provided for financial institutions to download and implement Circular BKS/DIR/CIR/GEN/001/001 from the Central Bank of Nigeria website.

Alert: Central Bank of Nigeria Circular BSD/DIR/GEN/LAB/09/048

RegAlert • 0 implied HN points • 13 Jun 23
💰 Finance Banking Regulations
  1. The Central Bank of Nigeria has issued a circular regarding Exposure Draft of the Guidelines on Liquidity Coverage Ratio and Revised Guidelines on Regulatory Capital for Non Interest Banks in Nigeria.
  2. The circular provides important regulatory information for non-interest banks and other financial institutions in Nigeria.
  3. This update was posted on June 13, 2023, on the regulatory alerts platform.

Alert: Central Bank of Nigeria Circular BSD/DIR/GEN/LAB/09/048

RegAlert • 0 implied HN points • 14 Jun 23
💰 Finance Regulation Banking Capital
  1. The Central Bank of Nigeria has issued a revised guideline on regulatory capital for non-interest banks in Nigeria.
  2. Financial institutions in Nigeria are required to adhere to the updated capital requirements outlined in the guidelines.
  3. The Exposure Draft of the Revised Guidelines on Regulatory Capital for Non-Interest Banks in Nigeria is available for download on the CBN website.

Alert: Central Bank of Nigeria Circular BSD/DIR/GEN/LAB/09/048

RegAlert • 0 implied HN points • 14 Jun 23
💰 Finance Regulations Banking Compliance
  1. Financial institutions in Nigeria must follow liquidity coverage ratio guidelines to ensure they have enough liquid assets for a 30-day stress scenario.
  2. These institutions need to maintain a level of high-quality liquid assets and report their liquidity coverage ratio to the regulatory body quarterly.
  3. The Circular BSD/DIR/GEN/LAB/09/048 outlines the Exposure Draft of Guidelines on Liquidity Coverage Ratio for Non-Interest Banks in Nigeria.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/007/075

RegAlert • 0 implied HN points • 23 Jun 23
💰 Finance Regulations Risk management Compliance
  1. Financial institutions must establish measures to mitigate risks from high-risk customers, including Politically Exposed Persons (PEPs)
  2. The Central Bank of Nigeria has issued a guidance note to help with assessing and mitigating these risks
  3. Immediate compliance is expected from all financial institutions regarding the guidance note on Politically Exposed Persons (PEPs)

Alert: Central Bank of Nigeria Circular PSM/DIR/PUB/CIR/001/039

RegAlert • 0 implied HN points • 27 Jun 23
💰 Finance Regulations Payments Banking Risk management Standards
  1. The Central Bank of Nigeria issued guidelines for contactless payments in the country, aiming to standardize operations and promote innovation while ensuring financial system stability.
  2. Banks, financial institutions, and payment service providers are required to adhere to these guidelines, implement risk management processes, and maintain relevant standards for contactless payments.
  3. Participants in contactless payments in Nigeria must download and adhere to Circular PSM/DIR/PUB/CIR/001/039 available on the Central Bank of Nigeria's website.

Weekly Mining Newsletter

Miner Weekly • 0 implied HN points • 25 Jun 22
💰 Finance Regulation Finance Hardware Infrastructure General & Features
  1. Bitcoin miners are deleveraging due to decreased mining difficulty and selling BTC to pay off loans.
  2. There are various regulations affecting crypto mining, including backdated power charges and political pressure in different regions.
  3. Crypto mining companies are making financial moves like selling BTC to repay loans, reporting significant revenue, and acquiring new infrastructure.

Miner Weekly: Difficulty ATH? Plus GMO vs Whinstone case

Miner Weekly • 0 implied HN points • 27 Aug 22
💰 Finance Regulation Hardware Finance Infrastructure General & Features
  1. Expect a significant difficulty jump in mining next week, which could be the largest of the year, impacting profitability.
  2. The legal disputes between companies like GMO Internet and Whinstone show the challenges faced by miners in a bear market.
  3. Regulation impacts mining operations, such as BitRiver losing clients and ongoing seizures of mining equipment in Iran.

Alert: Central Bank of Nigeria Circular FPR/AML/PUB/CIR/001/029

RegAlert • 0 implied HN points • 06 Jul 23
💰 Finance Regulatory Compliance
  1. Banks and financial institutions need to implement enhanced due diligence based on the outcomes of the FATF Plenary, which added Cameroon, Croatia, and Vietnam to the 'Increased Monitoring' list.
  2. The Democratic People's Republic of Korea, Iran, and Myanmar are still considered high-risk jurisdictions and are subject to 'Call for Action'.
  3. Counter-measures may need to be taken to protect the international financial system alongside implementing enhanced due diligence.

Alert: Central Bank of Nigeria Circular TED/FEM/PUB/FPC/01/005

RegAlert • 0 implied HN points • 25 Jul 23
💰 Finance Regulatory Compliance
  1. The Central Bank of Nigeria issued a circular about the Pan African Payments and Settlement System (PAPSS), specifying details like transaction requirements, payment modes, and limits.
  2. Transactions on PAPSS must be trade backed, and the approved payment mode is Bills for Collection.
  3. There are specific transaction limits set by the Central Bank for both customers and Authorized Dealer Banks, with the requirement for USD cover approval before initiating payments.

Alert: Central Bank of Nigeria Circular PSM/DIR/PUB/CIR/001/049

RegAlert • 0 implied HN points • 31 Jul 23
💰 Finance Banking Regulations Nigeria
  1. Microfinance banks and primary mortgage banks in Nigeria are exempted from paying processing fees for withdrawals above cash withdrawal limits from correspondent banks.
  2. The exemption is meant to support these banks in providing specialized retail banking services to the economically active poor.
  3. While exempt from processing fees, these banks still need to comply with the cash withdrawal limits set in an earlier circular by the Central Bank of Nigeria.

Alert: Central Bank of Nigeria Circular TED/FEM/PUB/FPC/001/007

RegAlert • 0 implied HN points • 17 Aug 23
💰 Finance Regulation Foreign Exchange Compliance
  1. The Central Bank of Nigeria has introduced new operational mechanisms for Bureau de Change (BDC) operations to enhance the efficiency of the foreign exchange market.
  2. BDC operators are mandated to maintain a spread on buying and selling within a specific range of -2.5% to +2.5% of the previous day's weighted average rate.
  3. Operators are required to submit periodic reports on the upgraded Financial Institution Forex Rendition System (FIFX); failure to comply may lead to sanctions or license withdrawal.

Alert: Central Bank of Nigeria Circular TED/FEM/PUB/FPC/001/009

RegAlert • 0 implied HN points • 13 Sep 23
💰 Finance Regulation International Banking
  1. The Central Bank of Nigeria has issued guidelines for International Money Transfer Operators (IMTOs) regarding rate quotes and market conduct. IMTOs must adhere to specific rules related to payment mode, pricing, and rate quotes within a specified range.
  2. Failure to comply with the guidelines may lead to sanctions such as selling proceeds to the Central Bank, suspension of operations, and even loss of operating license.
  3. IMTOs should take note of the circular TED/FEM/PUB/FPC/001/009 and ensure they are in compliance with the regulations set by the Central Bank of Nigeria to avoid potential repercussions.

Miner Weekly: Here’s how much Core Scientific owes to whom

Miner Weekly • 0 implied HN points • 29 Oct 22
💰 Finance Bitcoin Mining Corporate News Regulation News Hardware & Infrastructure
  1. Core Scientific owes a significant amount - $880 million in notes payable as of June 30th.
  2. The company's total notes payable increased from $692m on Dec. 31 to $770m on Mar. 31 and finally to $880m on Jun. 30.
  3. Core Scientific is facing challenges meeting debt obligations due to net interest expenses, reduced cash, and difficulties in production.

Auction of ~38k S19s from Iris Energy's loan defaults

Miner Weekly • 0 implied HN points • 12 Jun 23
💰 Finance Corporate News Feature
  1. About 37,800 AntMiner S19 series units may enter the hardware market if a court approves an auction related to Iris Energy's loan defaults
  2. The dispute between NYDIG and Iris Energy, arising from loan defaults, involves bitcoin collateral and equipment proceeds, with details shared by TheMinerMag from court materials
  3. The auction process, managed by PricewaterhouseCoopers, could begin in late June and finish by early September, facilitated by Foundry Digital

Alert: Central Bank of Nigeria Circular TED/FEM/PUB/FPC/001/010

RegAlert • 0 implied HN points • 06 Oct 23
💰 Finance Regulatory Banking Nigeria
  1. The Central Bank of Nigeria has appointed three additional designated banks for the collection of fees under the Nigerian Export Supervision Scheme (NESS). Authorized dealers are instructed to inform their exporting customers about this change.
  2. The appointment of designated banks signifies a shift in the process for collection of fees under the NESS, bringing more clarity and convenience for exporting customers.
  3. This circular, TED/FEM/PUB/FPC/001/010, outlines an important update regarding the collection of fees, emphasizing the need for all involved parties to be informed and compliant with the changes.

Core Seeks to Resolve $330M Claims

Miner Weekly • 0 implied HN points • 18 Sep 23
💰 Finance Mining Bankruptcy Agreements Bitcoin Corporate News
  1. Core Scientific is resolving $330 million in claims by reaching agreements with hosting clients, paving the way for its bankruptcy exit.
  2. Part of Core's settlement plan involves sharing net mining profits with clients and selling assets like the Cedarvale site to settle debts.
  3. The decline in Core's market share of Bitcoin production this year is attributed to increased competition and operational expansions by rivals.

Alert: Central Bank of Nigeria Circular BKS/DIR/CIR/GEN/001/003

RegAlert • 0 implied HN points • 17 Oct 23
💰 Finance Regulations Banking Compliance
  1. Financial institutions in Nigeria must validate MICR codeline details based on Nigerian Cheque Standards and ensure proper calibration of in-house cheque processing equipment.
  2. Supervision of cheque processing equipment is essential to prevent image and data distortion during the cheque truncation process.
  3. Non-compliance with the circular may lead to penalties for financial institutions.

Weekly Mining Newsletter

Miner Weekly • 0 implied HN points • 30 Apr 22
💰 Finance Regulation Investment Technology Infrastructure General & Features
  1. The New York mining moratorium bill is back, and Texas's City of Fort Worth is mining Bitcoin, showcasing diverse approaches to crypto mining regulation.
  2. Finance highlights include significant debt capital secured by companies like CleanSpark and Blockmetrix, as well as revenue increases for miners like Argo.
  3. Infrastructure updates reveal massive expansion plans by companies like Riot in Texas and Argo's increased hashrate guidance, showing ongoing growth and evolution in the mining industry.

Bitmain Expands Self-Mining While Raising Rig Prices

Miner Weekly • 0 implied HN points • 11 Jan 24
💰 Finance Cryptocurrency Mining Financial News Corporate News Regulation News
  1. Bitmain has increased the prices of its mining rigs but not as significantly as the rise in bitcoin's hashprice.
  2. CleanSpark's recent preorders of Bitmain's Antminer S21 reveal price changes and discounts over time.
  3. Bitmain has expanded its proprietary mining fleet in the U.S. while raising rig prices, showcasing strategic business moves.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/002/002

RegAlert • 0 implied HN points • 08 Dec 23
💰 Finance Banking Regulations Compliance Money Laundering
  1. Financial institutions in Nigeria need to collect evidence of registration with SCUML from Non-Profit Organizations before starting a business relationship.
  2. Banks and financial institutions must update their customer account information according to the new requirement.
  3. The Circular FPR/DIR/PUB/CIR/002/002 outlines the additional Know Your Customer requirement for NPOs in Nigeria.

Weekly Mining Newsletter

Miner Weekly • 0 implied HN points • 10 Jul 22
💰 Finance Mining Bitcoin Cryptocurrency Infrastructure General
  1. Many mining companies sold a large amount of BTC in June but still hold significant amounts on their balance sheets.
  2. Bitcoin's mining difficulty has decreased slightly recently, allowing existing miners to potentially earn a larger share in the upcoming weeks.
  3. Important developments in the mining industry include companies like Core Scientific selling a substantial amount of Bitcoin, while some like Hut8 continue to hodl all mined BTC.