Fortress Technologies Buys 4,500 Bitcoin Mining Machines From Bitmain

The purchase will more than triple Fortress’ hashrate.

Nov 1, 2021 at 11:54 a.m. UTC
Updated Nov 1, 2021 at 2:51 p.m. UTC

Bitcoin mining company Fortress Technologies has ordered 4,500 Bitmain Antminer S19j Pro machines as it seeks to capture a greater share of mining revenue.

  • The purchase will more than triple Fortress’ hashrate from 195 petahash per second to 645 PH/s, the company announced Monday. A petahash is a measure of computational power.
  • The machines are scheduled for delivery in monthly instalments from April to September 2022.
  • Financial terms weren’t disclosed, and Fortress didn’t immediately respond to CoinDesk’s request for details.
  • The purchase follows two weeks after Fortress bought 180 Whatsminers M30S machines, which are expected to be installed by the middle of this month.
  • Fortress, which is listed on the Toronto Venture Exchange (TSX-V: FORT), underwent a shake-up of its leadership team in September following the departure of CEO Aydin Kilic, who joined publicly traded crypto mining firm Hive Blockchain as president and chief operations officer.
  • At the time, Fortress named Antonin Scalia CEO and Drew Armstrong chief operating officer. Both executives came from Galaxy Digital.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Jamie Crawley is a CoinDesk news reporter based in London.