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Bitcoin (BTC) miners take the bear by the tail!

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Bitcoin (BTC) miners take the bear by the tail!

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Tue 13 Sep 2022 ▪ 2:00 p.m. ▪
5
min read – by
Mikaia ANDRIAMAHAZOARIMANANA

Despite the deep crisis that cryptocurrencies are currently going through, innovative ideas are emerging. Lately we have seen the development of new blockchain games, NFT and metaverse concepts, crypto credit cards, and more. On the side of bitcoin miners, the bear market pushed them to intensify their activities.

Bitcoin (BTC) miners are taking the bear market by the tail!

Mining of bitcoins: Cleanspark, Arsenal Digital Holdings and Terawulf press the mushroom

The progress of mining of bitcoins on a background of bear market amazes observers. Recently, 3 major players in the sector have announced remarkable progress in their cryptocurrency mining activities.

Cleanspark (CLSK)

Last Friday, Coindesk announced the acquisition by CleanSpark of a ” turnkey bitcoin mining facility owned by Mawson Infrastructure Group. The said facility comprises 6,468 bitcoin mining rigs, with a total capacity of 80 MW and capable of supporting 2.4 Exahash per second.

CleanSpark had to pay the sum of 42.5 million dollars for the purchase of this device located in Sandersville (Georgia).

As a reminder, CleanSpark already signed a check for $28 million a few days earlier. This sum allowed him to buy 10,000 new Bitmain Antimner S19j Pros. In addition, last August, the company paid for an installation of bitcoin mining, Georgia, a property of Waha Technologies. The price of this acquisition amounts to 25 million dollars.

It is estimated that CleanSpark’s hash rate could reach 5.2 PE/s by the end of 2022. This is significantly higher than its initial predictions.

Arsenal Digital Holdings (OTCMKTS:ADHI)

Last Friday, bitcoin.com also explained that Arsenal Digital Holdings offered itself a ” 50-acre (20-hectare) operational data center campus including a 4-story office building in Westland, near Houston. Dan Swinhoe, author of a report concerning this operation, had also mentioned the existence of an additional space of 100,000 m² on the site, as well as a bunker built in 1982. According to him, Louis Kung, founder of Westland Oil, had built it with a view to of ” protect 350 adults for up to 3 months. »

Happy with this new acquisition, Ryan Messer, CEO of Arsenal, commented:

Data centers are among the most coveted assets in the digital infrastructure industry, and we are proud to make this acquisition a founding asset for the company, as it will be a true flagship site. »

To say that this old oil bunker, transformed into a data center in 2008, had not found a buyer since it was put up for sale in 2021. Is this linked to its exorbitant price of 39 million dollars? Note that the site in question can accommodate a capacity of 15 megawatts, according to Swinhoe.

Terawulf (WULF)

That same Friday, Paul Prager, CEO of Terawulfalso announced that the site of mining Lake Mariner bitcoin is now live. It offers a capacity of 30 MW and can withstand up to 1EH/s.

According to Prager, 10,000 bitcoin mining devices are already installed there.

WULF’s infrastructure is second to none, and our electricity prices are stable and low. We will bring them home. », he added.

This progression does not date from one or more months, but from a few days only. Because if we take into account the statistics for the month of August, this list will be extended again and again. Didn’t we learn that at this time Applied Blockchain and Validus Power had extended their activities to mining bitcoins? All this allows us to say that, bear market or not, players in the crypto world still want to move forward. Another important point: bitcoin miners seem more and more aware environmental issues. Enough to establish a good image for the sector.

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Mikaia ANDRIAMAHAZOARIMANANA avatar
Mikaia ANDRIAMAHAZOARIMANANA

The blockchain and crypto revolution is underway! And the day when the impacts will be felt on the most vulnerable economy of this World, against all hope, I will say that I had something to do with it



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