Chinese mining hardware giant Bitmain will be bringing 56,000 of its latest Antminers to the state of Georgia in the southeastern United States. The influx of mining rigs is part of a three-way deal between Nevada-based tech firm ISW Holdings, crypto mining datacenter Bit5ive, and Bitmain. According to ISW Holdings, the total cost of the hardware deployment will be around $62 million and is expected to generate monthly revenue of $10 million when running at full capacity. ISW Holdings has already parted with $6 million towards the purchase that will see Bitmain's Antminer S19J mining rigs deployed under its new …

Marathon Digital has announced the purchase of additional Bitcoin mining hardware from Bitmain. According to a release issued on Monday, the United States-based Bitcoin (BTC) mining giant has completed a purchase deal for 30,000 Antminer S19j Pro at a reported cost of $120.7 million. The news marks a continued increase of Marathon’s Bitcoin mining inventory, with Bitmain expected to complete the delivery of the new rigs by June 2022. With the 30,000 rigs in tow, Marathon’s total Bitcoin miner count will go north of 133,000, delivering an estimated hash rate of 13.3 exahashes per second (EH/s). To put the figure …

Jihan Wu became a prominent name in crypto after co-founding Bitmain Technologies in 2013 and taking it public in 2018. His latest venture, Matrixport, raised new capital to stand at a unicorn-level of $1 billion in valuation. With the participation of large venture capital firms, including Tiger Global, DST Global, C Ventures and K3 Ventures, the Series C funding of Matrixport raised over $100 million. As a crypto-financial services company, Matrixport tries to implement a Wall Street-like structure to the vast cryptocurrency ecosystem. According to Ge Yuesheng, CEO of Matrixport and former Bitmain investor, the company is currently home to …

Two weeks after a 15% increase in electricity prices in Turkey, a new store selling professional mining equipment has opened its doors in Istanbul — the business hub of the country — on Tuesday. Opening a mining equipment shop in a country with costly electricity seems counterintuitive. But Phoenix Store, Bitmain’s sales partner in the Middle East, did the math before opening its second store within the region. Phoenix Store CEO Phil Harvey explained that the company’s primary goal with the Istanbul store is to educate Turkey’s crypto-friendly population about crypto mining. Then, customers can purchase mining equipment and hosting …

Jihan Wu, crypto billionaire and the co-founder and ex-CEO of Bitcoin (BTC) mining giant Bitmain, believes that the current wave of regulatory interventions in the crypto industry may be “a good thing in the long term.” Speaking to CNBC during the Asia Tech x Singapore conference this week, Wu noted that the sector had already grown almost to “a trillion dollar market cap industry,” with over 10% of United States citizens having some involvement with the new asset class. In these conditions, he argued that stronger regulatory involvement would be a net gain for crypto over time: “I think the …

Gryphon Digital Mining has signed a purchase agreement with Bitcoin (BTC) mining equipment maker Bitmain to purchase 7,200 Antminer S19J Pro mining rigs. According to a release issued on Thursday, the entire outlay for the mining inventory amounts to about $48 million. Starting in August 2021, Bitmain will deliver 600 mining rigs to Gryphon each month as part of the deal. The Antminer S19J Pro is the latest iteration of Bitmain’s Bitcoin mining hardware slated for release into the market this summer. According to the release, each rig offers 100 terahashes per second (TH/s) hash rate capacity with an energy …

Bitmain, the cryptocurrency infrastructure company behind the Antminer brand, will temporarily halt the sale of mining machines to help secondary sellers offload their supplies following China’s wholesale ban on Bitcoin (BTC) mining. The suspension of new Antminer sales will begin immediately, Bitmain announced Thursday via WeChat. By suspending the sale of new mining devices, companies must resort to buying secondhand miners that previously belonged to Chinese mining rigs. The “second-hand market is under great pressure,” Bitmain said, according to a Google translation of the announcement. “In order to help the industry transition smoothly, [Antminer] decided to temporarily suspend the global …

Chinese mining giant Bitmain is reportedly scrambling to respond to market conditions amid a major crackdown on crypto mining activity by local authorities. According to a Wednesday report by Chinese news agency Sina Finance, Bitmain has halted global spot sales for its new Bitcoin (BTC) mining devices in order to avoid losses by customers amid massive selling on the secondary market. By postponing the sales, Bitmain intends to help miners exiting the industry get better prices for mining equipment and protect the firm from further price declines over the longer term, Bloomberg reported. A Bitmain spokesperson said that the company …

Estonian technology conglomerate Burfa is turning to Bitmain to supply key cryptocurrency mining infrastructure to its Narva-based data center, offering a glimpse into the arms race underway for high-performance computing resources. The $26-million agreement will allow Burfa to double its data center capacity and secure a steady supply of processing equipment over the coming months. The industrial sector is facing an acute shortage of specialized GPUs and SSDs as more of these resources get gobbled up by crypto-intensive firms that have ramped up Bitcoin (BTC) mining during the bull market. Burfa will start receiving the new equipment as early as …

Pennsylvania software firm Integrated Ventures has announced the purchase of 4,800 Bitcoin (BTC) mining rigs from Chinese manufacturer Bitmain. The deal is worth just over $34 million and will see 400 of Bitmain’s Antminer model S19J’s delivered to Integrated Ventures each month for the next year. Integrated Ventures partnered with Wattum Management, a mining solutions provider, to carry out the deal, with Wattum expected to help host and manage INTV’s mining operations. The mining rigs deliver 100 terahashes each, giving IV close to 0.5 million TH/s by the time the full shipment of mining rigs is delivered in 2022. Based …

In an announcement on Monday, Riot Blockchain reported that it produced 187 Bitcoin (BTC) — roughly $11.2 million — last month, an 80% increase over its BTC mining in March 2020. The company said it held more than 1,565 Bitcoin on its balance sheet as of March 31, representing more than $94 million in crypto. The mining report follows Riot's $138 million purchase of 42,000 S19j Antminers from crypto mining giant Bitmain. Roughly 6% of the rigs — 2,400 Antminers — are reportedly already on route to Coinmint’s facility in New York, where Riot runs a portion of its mining …

Riot Blockchain, a cryptocurrency mining company, has expanded its fleet and mining capacity with a new purchase order for 42,000 S19j Antminers from Bitmain. Megan Brooks, Riot’s COO, said the latest purchase order positions her company and the United States at the center of the Bitcoin mining industry: “By nearly doubling its planned hash rate capacity, Riot continues to take great strides forward in growing both the company’s and the United States’ share of the global network hash rate. We are proud of this accomplishment and remain focused on continuing to evaluate additional opportunities in the space.” The purchase order, …