Connect with us

Hi, what are you looking for?

Cryptocurrency

Mawson Infrastructure Group to expand btc mining capacity by 300 MW in Georgia state

Mawson Infrastructure Group, a publicly listed bitcoin mining firm in the U.S., is expanding proprietary mining capacity in the state of Georgia by up to 300 megawatts (MW).

Announcing the expansion on Monday, Mawson said the scale will allow the Georgia site to increase proprietary hash rate to 2,000 PH/s and 5,000 PH/s by the end of 2021 and 2022, respectively.

Mawson’s expansion plan is part of the ongoing infrastructure scaling in the U.S. for new bitcoin mining capacity as China’s crackdown on crypto mining has resulted in a supply shortage for hosting availability.

In July, Mawson said it was negotiating with the City of Sandersville for increasing the power capacity allocated to its Georgia site from 100 MW to 400 MW, which is said to have an electricity cost of $0.04 per kWh. 

Mawson’s chief commercial officer Nick Hughes-Jones said in the statement that the Georgia site is operational with ongoing expansion timeline. The second phase is “being built and is due for completion in September” and the third phase is scheduled for Q4 2021, he said.

In addition to the Georgia site, the Australia-headquartered firm also has facilities in its home country. Last week, it announced the purchase agreement for 17,352 units of the newest generation of equipment from Canaan. That was in addition to the 11,760 miners it pre-ordered from Canaan in April. These pre-orders are expected to ship throughout 2021 and 2022 to Mawson’s facilities in the U.S. and Australia.

At bitcoin’s current price and difficulty, Canaan’s newest generation of equipment would bring a gross profit margin of about 90% at an energy cost of $0.04 per kWh.

thtblockcrypto

Featured

Bitcoin Mining

Despite a $72 million rescue offer from creditors, concerns have been raised about the general viability of the Bitcoin trading community amid a protracted...

Altcoin

Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it...

Bitcoin

Bitcoin price is facing resistance near $17,000. BTC could start another decline unless there is a strong move above the $17,000 resistance zone. Bitcoin...

Ethereum

Ethereum started a fresh decline from the $1,320 resistance against the US Dollar. ETH is struggling and remains at a risk of a move...