Cryptocurrency
Bitmain cancels operation partnership for its Texas mining farm
As reported by The Block, “Bitmain, one of the world’s largest bitcoin mining machine manufacturers and miners, has terminated its management agreement with its Texas mining farm operator, DMG Blockchain Solution. “Announcing the news on Monday, Vancouver-based DMG Blockchain said the two firms mutually decided to discontinue the existing agreement that designated DMG as the […]
As reported by The Block, “Bitmain, one of the world’s largest bitcoin mining machine manufacturers and miners, has terminated its management agreement with its Texas mining farm operator, DMG Blockchain Solution.
“Announcing the news on Monday, Vancouver-based DMG Blockchain said the two firms mutually decided to discontinue the existing agreement that designated DMG as the operator of Bitmain’s Texas mining farm, which already has 15,000 ‘next generation’ miners installed. The Canadian firm cites the failure to materialize ‘cost and operational efficiencies’ as the reason for this termination, although it stated that the two will continue to explore other collaboration opportunities.
“Bitmain launched its Rockdale, Texas-based mining farm in Oct. 2019. At the time of its launch announcement, Bitmain claimed the new farm would be ‘the world’s largest for bitcoin mining.’ They expected to have a capacity of over 300 MW in the future…”