Bitmain, the world’s largest manufacturer of bitcoin mining hardware, is expanding its joint mining capacity in North America.
The company has signed a hosting agreement with Bit5ive and ISW Holdings, which will house 56,000 pieces of Bitmain’s patented AntMiner equipment in the United States of America’s state of Georgia.
According to a statement released on Wednesday, when fully deployed, the mining fleet will consume 200 megawatts (MW) of power. The corporations expect the first 20 MW of power to be operational by next month.
This means that Bitmain’s latest generation of AntMiner S19 series mining equipment will be employed in the transaction, which has an average hashing power of 100 terahashes per second (TH/s). When completely deployed, the entire fleet will have a hash rate of around 5.6 exahashes per second (EH/s).
ISW Holdings, the deal’s hosting partner, stated that the overall cost of deploying and activating the facility will be $62 million, with $6 million already paid.
Bitmain’s acquisition adds to a growing list of institutional miners expanding their crypto mining infrastructure in North America in the aftermath of China’s mining sector crackdown earlier this summer. Bitmain also led a $32 million investment round in June alongside Ethereum mining pool Sparkpool into Dallas-based Applied Blockchain.
Bitmain has reserved long-term hosting capacity at Applied Blockchain‘s facilities as part of the investment. Applied Blockchain stated at the time that the first 50 MW will be operational by the end of the year, followed by another 50 MW in the first quarter of the following year.
Also Read: Russia Won’t Make Bitcoin Legal Tender
Wallets