Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, Bitmain expands operations in Israel, tripling its employee base to support a third mining pool.

Bitmain will triple the size of its operations in Israel

The mining hardware maker will increase its footprint by 40 employees in Israel. The company is looking to add blockchain researchers and software engineers as it expands its third mining pool, ConnectBTC. The company continues to grow in advance of its rumoured public offering.

Hut8 mining announces the completion of a second mining facility

Hut8 mining has announced the completion of the Medicine Hat facility ahead of the September deadline. The facility houses 40 Bitfury Black Box datacentres drawing 48MWs of power. The expansion brings the company’s total fully-funded operating power to 66.7MW and 487.5 PH/s.

LabCFTC director cautions against hasty regulatory decisions

Daniel Gorfine, the director the CFTC’s fintech initiative, testified to the House Committee on Agriculture on digital assets. He warned against hasty regulatory decisions and believed action should be taken when swaps or futures develop.

The Big 4 accounting firms will trial a blockchain service to audit 20 companies

Deloitte, EY, KPMG, and PwC will join a consortium of 20 banks to trial a blockchain service for auditing the companies financial reports. The test will take place in Taiwan with support from the Taiwan Financial Information Service.

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