This week, the Bitcoin Mining Council 'BMC' published a report that discusses the bitcoin mining industry's improvements in sustainable energy use during the first quarter of 2022. The BMC report's findings show Bitcoin's electricity usage dropped by 25% in Q1 2022 compared to the year prior.

The same report found the Bitcoin mining industry increased its sustainable energy mix by approximately 59% year over year.

Companies leading the way in sustainable energy for Bitcoin mining are top of mind for crypto investors.

Generation Hemp, Inc. (OTCMKTS: GENH) is one of these energy efficient Bitcoin power plays to watch closely. The company announced it will partner with Massachusetts-based Cryptech Solutions, the largest volume reseller of ASICS in North America, to build 'green energy' plants and Bitcoin mining farms that utilize hemp as the primary power source.

The first bitcoin mining facility through a Joint Venture 'JV' to be installed at Generation Hemp's 48,000 sq. foot facility in Hopkinsville, Kentucky, which also houses a hemp drying operation through its wholly-owned subsidiary GENH Halcyon Acquisition.

This plant will be able to generate 2 megawatts ('MW') which would allow for up to 576 mining units. Assuming 100 TH/s per unit, GENH and Crypt Solutions would be able to generate $3.61 Million in Bitcoin revenues in 1 year of operations, assuming the price of Bitcoin doesn't drop beyond its current low.

The power source for this first project will ultimately combine hemp-based biofuel and Solar, backed up by the grid.

GENH is now working to gain Renewable Energy Credits (RECs), these are essentially credits created for every 1 MW/h of clean electricity created. Companies possessing these can either keep or sell them. While GENH will likely initially keep them for this JV, there could be a time in the future when they are purely selling clean energy to other operations.

Evans said this is only the first of many projects, "there's lots of smaller projects being two, three, five, ten megawatt around the country where utilities have kind of a dead spots. And so we've begun a concerted effort of finding those locations. I think we got about five or six now. We actually looking at one internationally down in Costa Rica."

BIT Mining Ltd - ADR (NYSE:BTCM) : The company reported $495.8 million in revenue for the fourth quarter of 2021, a jump of $102.7 million from $393.1 million for the third quarter of 2021. Operating loss stood at US$15.0 million, improved from $35.0 million for the third quarter of 2021.

Net loss came in at $8.8 million in the latest quarter, as compared with $29.6 million for the third quarter of 2021.

Revenues grew to $1,326.9 million for full-year 2021, compared with Revenues of $2.2 million for full-year 2020.

Bit Digital Inc (NASDAQ:BTBT) : The stock has been under selling pressure over the past month with a fall of over 35%. Earlier this week, the company filed a prospectus with the U.S. Securities and Exchange Commission (SEC) for the sale of up to $500 million in equity from time to time.

The offerings may be in ordinary shares, preferred shares (including convertible preferred shares), warrants, and units comprised of any combination thereof, according to the filing.

Cipher Mining Inc (NASDAQ:CIFR) : The stock has been under selling pressure over the past month with a fall of over 10%. Recently, the company announced its results for the fourth quarter and year ended December 31, 2021.

"I am pleased to announce that we began Bitcoin mining in February 2022, and we are making excellent progress in our long-term plans to build Cipher into a leading Bitcoin mining enterprise in the United States," said Tyler Page, CEO of Cipher.

TeraWulf Inc (NASDAQ:WULF) - The company was last in the news back on April 12 but it may be a good move from investors to consider taking a look at the specific announcement from the company. On the day, the company announced the pricing of the public offering of its common stock in which it was looking to bring in gross proceeds to the tune of $20.6 million.

In this regard, it is important to point out that TeraWulf also provided the underwriters of the offering an 30 day option by way of which it could pick up an extra $3.1 million worth of common stock in the company. The company seeks to use the proceeds from the offering for establishing its mining operations and infrastructure for digital assets.

Bitfarms Ltd (NASDAQ:BITF) - Worldwide Bitcoin self-mining firm BitFarms Ltd is another company that could be on the radar of investors at this point. Earlier on in the month on April 6 the company announced that it had commenced production at Leger, which is situated in Quebec, Canada.

After the commencement of production at the site, the aggregate operational hashrate of the company stood at 3 exhash per second. It was a major new development for the company and one that could be regarded as a positive development by most investors. It now remains to be seen if the stock can make a move over the course of the coming days. Investors could do well to keep an eye on the price action in BitFarm's stock.

Disclaimers: The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quote; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investors investment may be lost or impaired due to the speculative nature of the companies profiled. Capital Gains Report 'CGR' is responsible for the production and distribution of this content. CGR is not operated by a licensed broker, a dealer, or a registered investment adviser. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. CGR authors, contributors, or its agents, may be compensated for preparing research, video graphics, and editorial content. CGR has been compensated three thousand dollars via wire transfer by Generation Hemp to produce and syndicate content related to GENH. As part of that content, readers, subscribers, and website viewers, are expected to read the full disclaimers and financial disclosures statement that can be found on our website.

CONTACT: To educate and attract more investors contact us at:

Mark McKelvie

mark@capitalgainsreport.com

(754) 233-0966

.

(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE