Blockcap plans to have 50K Bitcoin miners operational by 2023

One of many largest crypto mining companies in North America mentioned that it has acquired an extra eight,000 rigs and begun mining different cryptocurrencies.

In an announcement from Blockcap right this moment, the mining agency mentioned it deliberate to have greater than 50,000 mining rigs on-line by the tip of 2022. Blockcap now controls greater than 12,000 mining rigs, producing greater than 6.6 Bitcoin (BTC) every day — roughly $380,000 on the time of publication. The agency added it was accelerating its transfer to mine different cryptocurrencies together with Ether (ETH).

In response to the agency, the addition of the ETH mining rigs in operation would account for 1.229 terahashes per second, or roughly zero.21% that of the Ethereum community. The greater than 50,000 Bitcoin miners, when totally operational, are projected to regulate roughly 2% of BTC’s present mixed hash charge.

“Blockcap’s progress technique is concentrated on bringing numerous peer-to-peer digital property on to the individuals who will make the most of them to enhance their lives,” mentioned Blockcap government chair and founder Darin Feinstein. “We try to contribute to the important infrastructure mandatory for mass adoption of those digital asset applied sciences so individuals can take part extra totally within the world monetary system.”

Each Blockcap and Riot Blockchain — two of the biggest crypto mining operations in america — have announced plans to set up shop in Texas for his or her company workplaces and mining amenities, respectively. The primary raised more than $75 million in two funding rounds led by Off The Chain Capital and Foundry Digital.

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