{"id":9553,"date":"2021-09-09T12:48:56","date_gmt":"2021-09-09T11:48:56","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=9553"},"modified":"2021-09-09T12:49:06","modified_gmt":"2021-09-09T11:49:06","slug":"bitmain-brings-56k-bitcoin-miners-to-georgia","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitmain-brings-56k-bitcoin-miners-to-georgia\/","title":{"rendered":"Bitmain brings 56K Bitcoin miners to Georgia"},"content":{"rendered":"\n
Bitmain, a Chinese mining hardware company, is shipping 56,000 of its latest Ant<\/a>miners to Georgia in the United States southeast. The deal is expected to generate $10 million in monthly revenue for ISW Holdings.<\/h5>\n\n\n\n
\"Bitmain<\/figure>\n\n\n\n

A three-way transaction between Nevada-based IT firm ISW Holdings\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, crypto mining datacenter Bit5ive, and Bitmain has resulted in the influx of mining rigs.<\/p>\n\n\n\n

According to ISW, the entire cost of the hardware deployment will be roughly $62 million, with monthly revenue of $10 million predicted when fully operational.<\/p>\n\n\n\n

ISW Holdings has already contributed $6 million to the acquisition of Bitmain's Antminer S19J mining equipment, which will be deployed under the BlockQuarry brand and utilising Bit5ive's infrastructure. In June, Bitmain reportedly put a halt to new miner orders, citing a burgeoning secondhand market.<\/p>\n\n\n\n

The new miners will utilize up to 200 megawatts of electricity <\/a>when fully operational in October 2022 at a BlockQuarry site in Georgia called “POD-CITY.” According to the release, ISW expects the first 20 MW of power to be operational by October next month.<\/p>\n\n\n\n

The nature of the business has altered since ISW Holdings teamed with Bit5ive last year and began designing “state-of-the-art mining pods,” according to Alonzo Pierce, president and chairman of ISW Holdings.<\/p>\n\n\n\n

\u201cLooking ahead, our hosting service revenues will be stable and substantial, and capable of strong growth. And our mining revenues will fluctuate with prices in the cryptocurrency space.\u201d<\/p>\n\n\n\n

Bit5ive will create “BLOQPODS,” which will be organized into BlockQuarry's “BLOQPARKS.” Each pod contains 280 Bitmain Antminers that produce 28,000 terahashes per second (TH\/s) of hashing power<\/a>.<\/p>\n\n\n\n

At a Bit5ive-managed location in Pennsylvania, ISW Holdings already has 700 miners, including Bitmain Antminer S17s, S19s, and Canaan Avalons.<\/p>\n\n\n\n

Following the massive miner migration from China, Bitcoin's hash rate has rebounded to 133 EH\/s, up from 68 EH\/s in late June. Glassnode, an on-chain analytics company, stated on Sept. 6 that miners had begun to benefit, adding:<\/p>\n\n\n\n

\u201cThe increase in hash-rate is likely a combination of previously obsolete hardware finding a second lease on life, and miners in China successfully relocating<\/a>, re-establishing or re-homing their hardware and operations,\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitmain, a Chinese mining hardware company, is shipping 56,000 of its latest Antminers to Georgia in the United States southeast. The deal is expected to generate $10 million in monthly revenue for ISW Holdings. A three-way transaction between Nevada-based IT firm ISW Holdings , crypto mining datacenter Bit5ive, and Bitmain has resulted in the influx […]<\/p>\n","protected":false},"author":12,"featured_media":9571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83,21],"tags":[1094,1892,4316],"class_list":["post-9553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","category-news","tag-bitcoin-miners","tag-bitmain","tag-georgia"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/Bitmain-brings-56K-Bitcoin-miners-to-Georgia-scaled.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=9553"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9553\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/9571"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=9553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=9553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=9553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}