Chinese mining rig maker Bitmain will send 56,000 Antminers to the state of Georgia in the U.S. under a deal with ISW Holdings and Bit5ive.
- At ISW’s POD CITY facility in Georgia, the Antminers will be operational with 20 megawatts of power by October of this year, according to a Wednesday press release. ISW plans the facility to run at 200 megawatts by October 2022.
- For the entire 200 MW, ISW expects to shell out $62 million, of which It has so far paid $6 million, according to the press release.
- The deal is one of many moves this summer by Chinese miners to move out of China, with North America being a particularly attractive destination. Even before the latest China crackdown started in May, many rig manufacturers had their books full of orders from North America due to increased investment in the U.S. and Canada.
- Nevada-based ISW Holdings puts in funding, access to electricity and public markets, while Bit5ive is bringing electricity power. Both of them will provide hosting services for Bitmain’s rigs. The deal was first revealed in July.
- ISW currently operates 700 rigs, S19s, S17s and Canaan’s Avalons in a mine managed by Bit5ive in Pennsylvania. The current hashrate is 36,000 TH/s, according to the press release.
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