Bitcoin NewsMining News

The American company doubled its processing power by purchasing 10,000 bitcoin mining machines


Blockcap is a North American bitcoin mining company that plans to add another 1,900 petashes to its processing power as bitcoin prices rise.

to the the report The Block said in a statement that it had purchased another 10,000 Ant-miners for the S19 from Bitmain to double its processing power.

Former executives of Core Scientific Mining Farm in the United States established Block Cup in 2020. The company said 10,000 S19 miners have been set up and working on the Core Mining Scientific Farm so far.

The total processing power of the existing miners is 950 petashes per second, and with the current extraction difficulty they can produce about 5.5 bitcoins in 24 hours.

Clark Swanson, CEO of Block Cup, said:

This purchase is an important step not only for the blockchain route, but also for the secure settlement of Bitcoin transactions in the future with a powerful and geographically diverse network.

According to Block Cup, the delivery schedule for the extraction devices will last from March (March) to August (August). Once fully established, the company’s total hash rate could increase to 1,900 petas.

As previously reported, at least 10 corporate investors in North America have submitted massive pre-orders for the new generation of bitcoin mining hardware. The investment is estimated at $ 500 million.

This level of investment has created a supply shortage. The reason for this shortage is the limited production capacity. This limitation is due to the shortage of chips supplied to the semiconductor industry. As a result, the new generation of second-hand market equipment is much higher than their pre-order cost.

Block Cup CEO Darin Feinstein said in a recent interview that his company is committed to operating its hardware instead of buying and then selling its devices after delivery. Finn Stein added:

We believe in the uptrend in bitcoin prices in the long run. We are not in the business of reselling devices.

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