Bitcoin

Blockcap plans to have 50,000 bitcoin miners operational by 2023

One of the largest cryptocurrency mining companies in North America has acquired another 8,000 rigs and started mining other cryptocurrencies.

In an advertisement for Block cap Today the mining company announced it would have more than 50,000 mining equipment in operation by the end of 2022. Blockcap now has 12,000+ mining rigs generating more than 6.6 Bitcoin (BTC) every day, which is about $ 380,000 at the time of writing. The company added that it is stepping up its efforts to mine other cryptocurrencies, including Ether (ETH).

According to the companyThe sum of ETH mining equipment in operation would be 1,229 terahashes per second, which is roughly 0.21% of the total hash rate of the Ethereum network. It is predicted that the over 50,000 Bitcoin miners on the fly control about 2% of the current combined hash rate of the BTC network.

Blockcap plans to have 50,000 bitcoin miners operational by 2023
Blockcap plans to have 50,000 bitcoin miners operational by 2023

“Blockcap’s growth strategy is focused on bringing various peer-to-peer digital assets directly to the people who will use them to improve their lives.” said Blockcap CEO and founder Darin Feinstein. “We are committed to contributing to the critical infrastructure needed to mass-adopt these digital asset technologies so that people can participate more in the global financial system.”

Both blockcap and Riot Blockchain, two of the largest cryptocurrency mining facilities in the US, announced their plans to establish their corporate offices and mining facilities in Texas, respectively. The former raised more than $ 75 million in two funding rounds led by Off The Chain Capital and Foundry Digital.

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