Bitmain to put 56,000 miners to work with partners in Georgia

Bitmain to put 56,000 miners to work with partners in Georgia

Mining equipment maker Bitmain will host 56,000 bitcoin mining devices in a 200 MW data center in the U.S. state of Georgia by October 2022. Bit5ive and ISW Holdings will be partners.

The first 20MW phase will be operational by October.

Based on the announced parameters, we may be talking about the latest model AntMiner S19 with a hash rate of about 100 TH/s. After deploying the entire fleet of devices, the total computing capacity of the joint venture will be 5.6 EH/s.

Bitmain will provide ASIC miners. Bit5ive will take care of power supply, hosting services and project management. ISW Holdings will duplicate Bit5ive's functions and provide financing.

The agreement is for five years. The total cost will be $62 million. ISW Holdings has already invested $6 million.

After partnering with Bitmain, we are one step away from becoming a leading player, commented ISW Holdings President Alonso Pierce.

As a reminder, HIVE Blockchain Technologies ordered 1,800 Antminer S19j Pro miners from Bitmain in August.

Earlier, Marathon Digital Holdings purchased 30,000 similar devices.

According to the latest data, the average daily hash rate reached 146 EH/s, which is lower than the May high of 180 EH/s.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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