Blockchain hosting provider Core Scientific has signed an agreement to purchase next-generation Bitcoin mining equipment (BTC) from leading Chinese mining hardware manufacturer Bitmain.
Core Scientific will purchase more than 17,000 Bitmain S19 Antminers on behalf of its customers and for their own use. According to Core Scientific It will be the largest number of S19 machines bought by a single blockchain hosting company.
Kevin Turner, President and Core Scientific CEO, and former Microsoft chief operating officerHe said: “Core Scientific has received and started testing the first of Bitmain’s latest ASIC miners and has had significant success in increasing the existing hash rate to 110 TH / s ± 3%.”
The deal comes when Texas has started attracting a number of mining facilities.
Last October, Bitmain opened the “world’s largest facility for mining Bitcoin” in Rockdale, Texas. In January, it was reported that SBI and GMO, two Japanese blockchain companies, signed an agreement with Whinstone, a subsidiary of Northern Bitcoin AGto process cryptocurrency transactions at its Rockdale facility.
Increased interest in North America
Talk to Cointelegraph Russell Cann, J.Head of Customer Service at, Core Scientific, He recognized the growing interest in an increase in the hash rate by mining companies in North America and explained the reason:
“We believe that this increase in interest and the increase in capital allocation and investment is due to the increasing acceptance of crypto-assets and / or digital assets as an investment asset class, as well as favorable investment characteristics in North America, particularly due to a stable geopolitical and regulatory environment, appropriate weather conditions and the diverse energy sources available. “
According to Cann, In the past, mining regulations in other countries were “a fiasco”, causing uncertainty for mining investors. In contrast, mining facilities in North America are beneficial due to the “stability of the electrical system and the regulatory environment for land ownership”.
He also said that The recent drop in energy prices makes the North American region much more attractive:
“With lower energy prices, cheaper energy areas in the US and Canada create some unique project opportunities for larger miners like Core Scientific,” she said.
However, this does not mean that investors are giving up other mining operations in countries like China. Cann suggests that investors would try to diversify their investments globally.