US blockchain hosting provider Core Scientific has signed an agreement to buy next-generation Bitcoin (BTC) mining machines from leading Chinese mining hardware producer Bitmain.
Core Scientific will purchase more than 17,000 S19 Antminer from Bitmain, on behalf of its customers and for its own use. According to Core Scientific, It will be the largest number of S19 machines purchased by a single blockchain hosting company.
Kevin Turner, president and CEO of Core Scientific, and former chief operating officer of MicrosoftHe said: “Core Scientific received and began testing the first of Bitmain’s newest ASIC miners, and has seen material success in increasing the existing hash rate to reach 110 TH / s ± 3%.”
The deal comes as Texas has begun attracting a series of mining facilities.
Last October, Bitmain opened “the world’s largest facility” for Bitcoin mining in Rockdale, Texas. In January, it was reported that SBI and GMO, two Japanese blockchain-related companies, signed an agreement with Whinstone, a subsidiary of Northern Bitcoin AG, to process cryptocurrency transactions at its Rockdale facility.
Increased interest in North America
Speaking to Cointelegraph, Russell Cann, JHead of Customer Service of, Core Scientific, He recognized the growing interest in increasing the hash rate, through mining operations in North America, and explained the reason:
“Our view is, that this increase in interest and the increase in capital allocation and investment can be attributed to the increasing acceptance of crypto assets and / or digital assets, as an investment asset class, as well as to favorable investment characteristics in North America, specifically due to a stable geopolitical and regulatory environment, adequate weather conditions and the multiple energy sources present. “
According to Cann, Historically, mining regulations in other jurisdictions have been “a fiasco”, creating uncertainty for mining investors. In contrast, having mining facilities in North America is beneficial due to “the stability of the electrical system, as well as the regulatory environment surrounding land ownership.”
Furthermore, he said that The recent drop in energy prices makes the North American region much more attractive:
“Importantly, with lower energy prices, lower-cost energy areas in the US and Canada are creating some unique project opportunities for larger-scale miners, such as Core Scientific , take them into consideration. “
However, this does not mean that investors are abandoning other mining operations in countries like China. Cann suggests that investors would be looking to diversify their investments globally.
Keep reading:
–
