Crypto mining firm Mawson beefs up capacity with the acquisition of Bitcoin miners from Canaan

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Crypto mining agency Mawson beefs up capability with the acquisition of Bitcoin miners from Canaan

The acquisition of extra Bitcoin mining rigs is consistent with the corporate’s objective of accelerating its capability to five,000 PH/s by the top of 2022.

Mawson Infrastructure is growing the Bitcoin mining capability of its U.S. website. The Australia-based BTC mining and digital asset agency lately obtained a whole bunch of mining rigs from the Nasdaq-listed producer Canaan Artistic.

In a press release on Tuesday, Mawson introduced that it has obtained 250 Bitmain Antminer S19 Professional’s from Canaan. The corporate additionally expects one other supply of 570 Avalon A1246 miners will probably be delivered and grow to be operational earlier than the top of July.

Certainly one of Bitmain’s newest mining gear, the Antminer S19 Professional, is a SHA256 mining rig able to producing a secure hash fee of 110TH/s. The miner can be one of the environment friendly ASIC miners at the moment with an influence effectivity of 29.5J/TH.

Buying power-efficient mining rigs is a part of the corporate’s technique for retaining working prices down and improve profitability. “Mixed with low energy prices at our flagship Georgia, USA website of lower than 4c/kWh, Mawson anticipates our go-forward break-even value per Bitcoin to be beneath US$4,000, and our gross margins to be higher than 80% primarily based on the present Bitcoin value and community issue,” the corporate mentioned.

The corporate is anticipating additional supply of 588 Avalon A1246 miners by early August. The extra machine will additional increase the agency’s mining capability by round 125 PH/s (Peta hash per second). That is consistent with the corporate’s objective of accelerating its capability to five,000 PH/s by the top of subsequent yr.

“Our main {hardware} deployment continues at tempo, and we’re delighted on the service and constant supply from Canaan,” James Manning, CEO and Founding father of Mawson, mentioned. “Our robust relationships with main ASIC mining {hardware} producers give us confidence in reaching our company objective of two,000 PH by finish 2021, and 5,000 PH by finish 2022.”

The corporate plans to achieve this objective by upgrading its Georgia website. “This stays topic to extending the dimensions of our Georgia, USA website, and we’re in superior negotiations with the Metropolis of Sandersville to develop the location by as much as 300MW, which is along with the present capability of 100MW,” the CEO added.

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