Friday, September 17, 2021

Bitmain is all set to host 56,000 bitcoin miners in Georgia State via a joint mining deal.

The Takeaway:

Bitcoin mining hardware manufacturing giant Bitmain is set to boost its joint mining capacity in North America by hosting 6,000 units of Bitmain's proprietary AntMiner equipment in the U.S. state of Georgia.

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Bitcoin mining hardware manufacturing giant Bitmain has entered into a bitcoin mining hosting deal with data center and power partners Bit5ive and ISW Holdings, which will house 56,000 units of Bitmain’s proprietary AntMiner equipment in the U.S. state of Georgia. Crypto mining has been under scrutiny because of its environmental impact.

 

The entire mining fleet will be using 200 megawatts (MW) of capacity. 

According to a statement on Wednesday, the entire mining fleet will be using 200 megawatts (MW) of capacity when fully deployed by October 2022. The firms said that the first 20 MW of capacity is expected to be up and running by next month. That means the mining equipment model used in the deal is Bitmain’s newest generation of AntMiner S19 series, which has an average hashing power of 100 terahashes per second (TH/s). The entire fleet will have about 5.6 exahashes per second (EH/s) of hash rate when fully deployed.

 

Bitmain led a $32 million investment round in June.

ISW Holdings, the hosting partner in the deal, said its cost to roll out and activate the facility would total $62 million, with $6 million already being paid. With the deal, Bitmain joins a growing list of institutional miners that are expanding their crypto mining infrastructure in North America following China’s crackdown on the mining industry earlier this summer. Bitmain also led a $32 million investment round in June into Dallas-based Applied Blockchain along with Ethereum mining pool Sparkpool. Bitmain reserves long-term hosting capacity at Applied Blockchain’s facilities as part of the investment when the infrastructure becomes operational. 

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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