According to the application-specific integrated circuit (ASIC) mining rig manufacturer Bitmain, the firm is gearing up to introduce its latest Scrypt miner. The L9, which boasts a hashrate of up to 16,200 megahash per second (MH/s) and energy efficiency of 0.21 joules per megahash (J/M) mines litecoin, dogecoin, and digibyte. Bitmain Set to Launch L9 […]
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Cleanspark to Upgrade Mining Fleet With 100,000 S21 Pro Bitcoin Miners From Bitmain
The publicly traded bitcoin mining company Cleanspark has exercised its option to acquire 100,000 bitcoin mining machines from Bitmain. The firm initially secured the option last year, and the agreement has now been enhanced to include the latest S21 Pro model from Bitmain, which offers 15 joules per terahash (J/T). Bitmain and Cleanspark Seal Deal […]
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Arkon Energy Strikes Deal With Bitmain for 27,700 Bitcoin Mining Rigs
On Tuesday, the Ohio-based bitcoin mining and colocation company Arkon Energy announced its procurement of 27,700 bitcoin mining rigs from Bitmain, equaling a hashpower of 6 exahash per second (EH/s). Ohio’s Arkon Expands Mining Fleet With 6 EH/S Boost From Bitmain Arkon Energy has revealed its acquisition of 27,700 bitcoin application-specific integrated circuit (ASIC) mining […]
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Bitmain Reveals S21 Pro Bitcoin Miner: Pioneering 15 Joules per Terahash
On Friday, the producer of bitcoin-specific application-specific integrated circuit (ASIC) mining equipment, Bitmain, unveiled the latest Antminer S21 Pro model during the World Digital Mining Summit (WDMS). This new device features a hashrate of approximately 234 terahash per second (TH/s) and boasts a much lower energy efficiency of 15 joules per terahash (J/T). New Antminer […]
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UAE-Based Phoenix Group Bolsters Mining Capabilities With $187M Bitmain Deal Amidst Global ASIC Race
Phoenix Group, a bitcoin mining and blockchain infrastructure company, recently disclosed its acquisition of 7 million in application-specific integrated circuit (ASIC) bitcoin mining rigs. The purchase was made from Bitmain, one of the leading ASIC manufacturers in the industry.
Phoenix Group Amplifies Mining Fleet With Latest ASIC Purchase From Bitmain
Listed on the Abu Dhabi Securities Exchange (ADX: PHX), Phoenix Group announced its latest agreement with Bitmain. The company stated that its 7 million investment was in Antminer-brand bitcoin mining rigs from the ASIC manufacturer. However, Phoenix did not reveal the total hashrate capacity obtained or the precise model types of the rigs purchased. The deal follows Phoenix’s recent procurement with another significant acquisition, this time from Bitmain’s rival, Microbt.
Earlier in December 2023, the United Arab Emirates-based bitcoin mining entity placed an order for ASICs valued at 0 million with Microbt. In a manner akin to its Bitmain agreement, Phoenix chose not to reveal the exact models of Microbt’s Whatminers purchased. Additionally, the company recently concluded its oversubscribed initial public offering (IPO), boosting its financial reserves with 0 million.
“This latest deal, following our successful IPO and partnerships, signals our relentless pursuit of excellence and solidifies our leadership in this dynamic space,” the co-founder and CEO of Phoenix Group, Bijan Alizadehfard remarked during the announcement. “Partnering with titans like Bitmain and [Microbt] equips us with the best tech, fuels our growth, and redefines the future of efficient and sustainable mining.”
Phoenix’s recent strategy corresponds with the ongoing bitcoin mining rig arms race, particularly as the network halving nears. Numerous ASICs, amounting to tens of thousands, have been ordered from leading manufacturers such as Bitmain, Microbt, and Canaan. This week, Cleanspark revealed its acquisition of 60,000 S21 miners from Bitmain, retaining the option to purchase up to 100,000 additional units. Similarly, Riot Platforms secured 66,500 units from Microbt and holds the option to add another 75 exahash per second (EH/s) of mining capacity.
What do you think about Phoenix’s latest deal with Bitmain? Share your thoughts and opinions about this subject in the comments section below.
Cleanspark Bolsters Bitcoin Mining Might With 60,000 S21 Rig Acquisition From Bitmain
The bitcoin mining firm Cleanspark, listed on Nasdaq, recently revealed the acquisition of 60,000 S21 miners produced by Bitmain. Scheduled for delivery in the next quarter, this purchase represents approximately 12 exahash per second (EH/s) of hashing power. Moreover, Cleanspark has secured the option to purchase up to an additional 100,000 S21 Antminers at a fixed price of per terahash.
Nasdaq-Listed Cleanspark Aggressively Expands With Massive S21 Miner Purchase
Cleanspark (Nasdaq: CLSK) disclosed its procurement of mining hardware capable of 12 EH/s, a transaction valued at 3 million. The recently unveiled S21 bitcoin miners stand out for their high hashrate output and enhanced energy efficiency, measured in joules per terahash (J/T). According to Cleanspark’s announcement on Monday, the delivery of the 60,000 Antminer S21s is scheduled between April and June 2024
“We are ready to expand into the next bull market,” Zach Bradford, the CEO of Cleanspark stated.
The acquisition of 12 EH/s of hashing capacity is anticipated to elevate Cleanspark’s total production beyond 20 EH/s. Additionally, Cleanspark maintains the opportunity to acquire up to 100,000 more miners from Bitmain at a consistent rate of per terahash until the year’s end. Should Cleanspark exercise its call option, its hashing capacity could rise to 50 EH/s, marking a 400% surge from its present capacity.
The company said it chose the Antminer S21 units over the newer T21 models due to the S21’s superior performance. “After receiving initial units, and performing real-world testing, we have determined that the S21 is more efficient and better suited for our operations,” Bradford clarified on Monday. Cleanspark’s strategic move to acquire new hardware is part of an industry-wide rush for cutting-edge machines in anticipation of the forthcoming Bitcoin halving event.
Industry peers like Hive Digital Technologies, Cipher Mining, and Iris Energy have also ramped up their arsenal, procuring thousands of next-generation mining rigs. Last month, the bitcoin mining giant Riot Platforms disclosed its acquisition of 66,560 units of Microbt’s latest Whatsminer M66S models. Additionally, Riot has entered an agreement similar to Cleanspark’s with Bitmain, securing a call option for an additional 75 EH/s of mining equipment from Microbt.
Cleanspark, too, is gearing up for the impending bull market and halving event. “This strategic agreement enhances our operational efficiency, provides massive optionality, and positions us to maximize opportunities that we expect on the horizon,” stated Bradford in the company’s announcement.
What do you think about Cleanspark acquiring 60,000 new bitcoin miners from Bitmain? Share your thoughts and opinions about this subject in the comments section below
Hive Amplifies Bitcoin Mining Might With 7,000 Bitmain S21 Units
The publicly-listed company Hive Digital Technologies, based in Vancouver, has announced the acquisition of 7,000 new application-specific integrated circuit (ASIC) bitcoin mining rigs from Bitmain. The ordered Antminer S21 units are slated for arrival from January through June next year.
Hive Digital Expands Fleet With 1.4 EH/s of Hashpower
Hive Digital (Nasdaq: HIVE) has expanded its inventory of bitcoin (BTC) mining rigs with an additional purchase from Bitmain, following two previous tranches of S19k Pro miners acquired last month. The company’s first purchase involved 5,000 S19k units, followed by a subsequent acquisition of 4,800 S19k Pro units in mid-May.
This latest addition of 7,000 S21 devices escalates Hive’s total orders in recent times to 16,800 of the latest next-generation Bitmain miners. Hive elaborated that upon the installation of the new miners, the company’s array will boast an average efficiency of 25 joules per terahash (J/T).
The addition of 1.4 exahash per second (EH/s) of mining power to its current 6.6 EH/s is expected to elevate Hive’s capacity to a total of 8 EH/s. This expansion follows the firm’s recent strategy to venture into the realms of artificial intelligence (AI) and high-performance computing (HPC) technologies.
In a move to bolster its technological arsenal, Hive has integrated 96 Nvidia H100 graphics processing units (GPUs) into its growing collection of GPUs. The latest acquisition underscores a period of intense activity in the bitcoin mining sector, with numerous businesses securing rigs from prominent manufacturers like Bitmain and Microbt.
Notably, Cipher Mining has recently added 7.1 EH/s of Bitmain mining rigs to its inventory, while Riot clinched a deal for 66,560 Microbt ASIC miners earlier this month. Similarly, bitcoin mining entity Cleanspark purchased Bitmain’s new S21 units, and DMG secured 4,550 T21 Antminers in December.
The Bitmain models that Hive acquired are air-cooled ASIC devices capable of delivering 200 terahash per second (TH/s) of SHA256 hashrate. Each unit consumes 3,500 watts of power off the wall and boasts an efficiency of 17.5 J/T.
In recent times, the bitcoin mining community at large is bracing for the anticipated halving event slated for the end of March or April 2024. Incorporating new miners into their current operational fleets sets these mining companies up for a competitive edge.
This industry-wide mobilization denotes a deliberate pivot towards heightened efficiency and power. Such strategic preparations guarantee that, upon the halving’s onset, leading mining entities remain equipped to persistently support the blockchain’s security and integrity through enhanced performance and continuous expansion.
What do you think about Hive purchasing 7,000 new bitcoin miners from Bitmain? Share your thoughts and opinions about this subject in the comments section below.
Cipher Mining Enhances Bitcoin ASIC Fleet With 7.1 EH/s Bitmain Deal
On Monday, Cipher Mining revealed its acquisition of 7.1 exahash per second (EH/s) in new mining equipment from Bitmain. The company invested in Bitmain’s T21 series miners, totaling a purchase price of .5 million.
Cipher Mining’s Strategic .5 Million Investment in Next-Gen Bitmain Miners
In recent months, following the introduction of several advanced bitcoin mining units, mining operations have been actively acquiring state-of-the-art mining rigs. On Dec. 18, the bitcoin mining company Cipher Mining (Nasdaq: CIFR) announced its purchase of 7.1 EH/s in next-generation mining machinery from Bitmain.
Cipher Mining spent per terahash, amounting to a total investment of .5 million in the latest hardware. The Bitmain Antminer T21, an air-cooled device, offers 190 terahash per second (TH/s) and boasts an efficiency of 19 joules per terahash (J/T). Cipher Mining intends to utilize these new rigs to enhance its self-mining hashrate, with the delivery of the 7.1 EH/s equipment slated for the first half of 2025.
“We are very excited to continue our track record of investing opportunistically during lulls in the bitcoin mining cycle,” Tyler Page, the CEO of Cipher said in a statement on Monday. “By acquiring 7.1 EH/s of Bitmain’s T21 mining rigs, we can build out the first 135 MW at our newly acquired Black Pearl site. We also have an option to acquire up to an additional 8.7 EH/s of T21s in 2024.”
The Bitmain T21 series has been a popular bitcoin mining rig model, as evidenced by significant orders from Iris Energy and DMG. Iris Energy made two substantial purchases recently: 7,000 T21s at the end of November and an additional 8,380 T21s two weeks later. Similarly, DMG acquired 4,550 T21 Antminers from Bitmain this month, totaling .1 million. In addition to Bitmain, it’s main competitor, Microbt, has been securing orders for its next-generation Whatsminer models.
What do you think about Cipher securing 7.1 EH/s of T21 Bitmain miners? Share your thoughts and opinions about this subject in the comments section below.
Iris Energy Acquires 7,000 Next-Gen T21 Bitcoin Miners in Deal With Bitmain
The Australia-based and Nasdaq-listed Iris Energy recently announced the acquisition of 1.3 exahash per second (EH/s) capacity in Bitmain’s latest Antminer T21 models. This purchase boosts Iris Energy’s proprietary mining capacity to a notable 8.3 EH/s.
Iris Energy Secures 1.3 EH/s in Latest Bitmain Deal
Iris Energy (Nasdaq: IREN) announced on Thursday its procurement of 7,000 next-generation T21 bitcoin (BTC) miners from Bitmain Technologies. The deal, amounting to roughly .6 million, translates to a cost of per terahash. Bitmain has agreed to postpone 20% of this sum until May 30, 2024, while Iris Energy plans to settle the balance through structured payments.
At the end of October, Bitmain introduced the T21 series, an air-cooled unit boasting up to 190 terahash per second (TH/s) capacity and a 19 joules per terahash (J/T) efficiency rating. Iris Energy highlighted that these T21 units’ enhanced efficiency ratio will elevate their entire fleet’s performance from 29.5 J/TH to 25.8 J/TH.
Concurrently, Iris is advancing an 80 megawatt (MW) expansion at its Childress facility, targeting a 10 EH/s capacity by the second quarter of 2024. “Early works and procurement for the next 100MW of data centers at Childress have commenced, with 600MW of total power available on site,” Iris disclosed on Thursday.
The latest move by Iris follows a trend of major firms securing thousands of mining rigs from Bitmain and Microbt. Earlier in the month, Hive Digital purchased 4,800 Bitmain S19k bitcoin miners, and Cleanspark obtained 4.4 EH/s capacity in Bitmain’s new S21 model Antminers. Moreover, Northern Data’s subsidiary, Peak Mining, has acquired equipment from Bitmain’s competitor, Microbt.
In a related move mid-October, Iris invested .6 million in Bitmain’s S21 Antminers. Following Thursday’s announcement, Iris’ stock saw an approximate 6% rise, with a 43% increase over the past 30 days. Year-to-date, IREN shares have soared by over 293%, as per data from Tradingview.
What are your thoughts on this story? Share your thoughts and opinions about this subject in the comments section below.
Hive Bolsters Mining Power With Purchase of 4,800 Bitmain S19k Bitcoin Miners Ahead of 2024 Halving
On Tuesday, Hive Digital, a bitcoin mining company based in Vancouver, revealed its acquisition of 4,800 Bitmain S19k Antminer mining rigs. Hive stated that this purchase is intended to strengthen the firm and strategically position it for the anticipated reward halving.
Vancouver’s Hive Digital Ups Ante With 4,800 Antminer Buy
In recent months, there has been a notable surge in bitcoin mining companies acquiring substantial quantities of mining rigs from leading manufacturers. Hive Digital (Nasdaq: HIVE) joined this trend on November 14, announcing their purchase of 4,800 Antminer S19k Pro units from Bitmain. The company expects these units to be delivered within 30 days, aiming to enhance Hive’s efficiency measured in joules per terahash (J/T).
The Antminer S19k Pro, a SHA256-based, air-cooled mining rig, boasts a hashrate capability of up to 120 terahash per second (TH/s). These machines consume approximately 2,760 watts (W) from the wall and have an efficiency of about 23 J/T. Hive’s strategy is to upgrade its older 38 J/T machines to these more efficient 23 J/TH models prior to the block reward halving. Scheduled for April 2024, this halving event will slash miners’ earnings by over half.
Recent data from theminermag.com indicates that Hive is “one of the least efficient operations.” According to Miner Mag, Hive’s bitcoin mining costs surged by 21.2% in the third quarter, reaching over ,000 per BTC mined. Hive also revealed on Tuesday that it has acquired a total of 8,900 bitcoin mining rigs in the last six months, all of which offer better J/T efficiency than its older models.
Despite this, Hive shares have declined 8.95% in the last day and 9.24% over the past month. Yet, year-to-date, the company’s shares have risen by 86.27% against the U.S. dollar. Currently, Hive’s hashrate stands at about 4.1 exahash per second (EH/s), accounting for 1% of the Bitcoin network’s total hashrate. The company mines approximately 9 BTC daily, and with the anticipated arrival of the new S19k Pro units, its hashrate is expected to increase further.
What do you think about Hive’s latest mining rig acquisition? Share your thoughts and opinions about this subject in the comments section below.