Bitmain brings 56,000 Bitcoin miners to the state

Chinese mining hardware giant Bitmain will bring 56,000 of the latest Antminers to Georgia in the southeastern United States.

The influx of mining machines is part of a three-party transaction between Nevada-based technology company ISW Holdings, encrypted mining data centers Bit5ive and Bitmain. According to ISW, the total cost of hardware deployment is approximately $62 million, and it is expected to generate $10 million in revenue per month when operating at full capacity.

ISW Holdings has allocated US$6 million to purchase Bitmain’s Antminer S19J miner, which will be deployed under its new BlockQuarry brand using Bit5ive’s infrastructure.According to reports, Bitmain New miner orders suspended in June In the booming second-hand market.

After being fully operational in October 2022, the new miners will consume up to 200 megawatts of electricity at the BlockQuarry facility named “POD-CITY” in Georgia. Initially, ISW expected that the first batch of 20 MW of electricity would be operational by October of next month. announcement.

Alonzo Pierce, President and Chairman of ISW Holdings, stated that the nature of the business has changed since working with Bit5ive last year and starting to design the “most advanced mining machine”, adding:

“Looking forward, our custodial service revenue will be stable and substantial, and can grow strongly. Our mining revenue will fluctuate with the price fluctuations in the cryptocurrency field.”

Bit5ive will manufacture “BLOQPODS”, and this “BLOQPODS” will be included in the “BLOQPARKS” operated by BlockQuarry. Each Pod contains 280 Bitmain Antminers to generate a hash rate of 28,000 terahashes per second (TH/s).

ISW Holdings already operates 700 miners at the Bit5ive hosting site in Pennsylvania, including Bitmain Antminer S17s, S19s and Canaan Avalons.

related: Bitcoin’s computing power has tripled since June 28 to recover from China syndrome

Bitcoin’s hash rate has risen from 68 EH/s at the end of June to 133 EH/s. Big miner immigrants from ChinaOn-chain analytics provider Glassnode reported on September 6 that miners have begun to make profits, adding:

“The increase in hash rate is likely to be a combination of previously obsolete hardware finding a second life, and Chinese miners successfully relocating, rebuilding or relocating their hardware and operations,”

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