Bitmain brings 56K Bitcoin miners to Georgia for my mine

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ISW Holdings expects to generate $10 million in monthly revenue from the $62 million transaction.

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

A collaboration between the Nevada-based tech firm ISW Holdings, the crypto mining datacenter Bit5ive, and Bitmain has resulted in an increase in mining rigs. According to ISW, the total cost of the hardware deployment will be around $62 million, with a monthly revenue of $10 million expected when fully operational.

ISW Holdings has already contributed $6 million towards the acquisition of Bitmain’s Antminer S19J mining equipment, which will be deployed under its new BlockQuarry brand and utilising Bit5ive’s infrastructure. Bitmain apparently halted orders for new miners in June, despite a thriving secondhand market.

When fully operational in October 2022, the new miners will consume up to 200 megawatts of electricity at a BlockQuarry facility called “POD-CITY” in Georgia. Initially, ISW expects the first 20 MW of power to be running by October next month according to the announcement.

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Alonzo Pierce, president and chairman of ISW Holdings, said that the nature of the business has changed since it partnered with Bit5ive last year and began designing “state-of-the-art mining pods,” adding:

“Looking ahead, our hosting service revenues will be stable and substantial, and capable of strong growth. And our mining revenues will fluctuate with prices in the cryptocurrency space.”

Bitmain brings 56K Bitcoin miners to Georgia for my mine

ISW Holdings expects to generate $10 million in monthly revenue from the $62 million transaction.

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

The surge of mining rigs is the result of a collaboration between the Nevada-based tech firm ISW Holdings, the crypto mining datacenter Bit5ive, and Bitmain. According to ISW, the entire cost of the hardware deployment will be roughly $62 million, with a monthly revenue of $10 million predicted when operating at full capacity.

“The increase in hash-rate is likely a combination of previously obsolete hardware finding a second lease on life, and miners in China successfully relocating, re-establishing or re-homing their hardware and operations,”

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