Bitmain, a Bitcoin mining hardware manufacturer, plans to increase its joint mining capacity in North America.
The company has agreed to host 56,000 units of Bitmain’s proprietary AntMiner equipment in the U.S. state of Georgia with data center and power partners Bit5ive and ISW Holdings.
According to a statement issued on Wednesday, when fully deployed by October 2022, the entire mining fleet will consume 200 megawatts (MW). The first 20 MW of capacity is expected to be operational by next month, according to the companies.
That means Bitmain’s newest generation of AntMiner S19 series mining equipment will be used in the transaction, with an average hashing power of 100 terahashes per second (TH/s). When fully deployed, the entire fleet will have a hash rate of about 5.6 exahashes per second (EH/s).
ISW Holdings, the deal’s hosting partner, stated that the cost to roll out and activate the facility will be $62 million, with $6 million already paid.
Following China’s crackdown on the mining industry earlier this summer, Bitmain joins a growing list of institutional miners expanding their crypto mining infrastructure in North America.
Bitmain also led a $32 million investment round in Dallas-based Applied Blockchain in June, alongside Ethereum mining pool Sparkpool.
Bitmain reserves long-term hosting capacity at Applied Blockchain’s facilities as part of the investment when the infrastructure becomes operational.
Applied Blockchain stated at the time that the first 50 MW would be operational by the end of the year, with another 50 MW ready by the first quarter of the following year.