Cryptocurrency
World’s Largest Bitcoin Mine Lures New Clients to Texas Hotspot
As reported on Bloomberg, “SBI Holdings Inc. and Japanese internet-service provider GMO Internet Inc. are about to start extracting Bitcoin at the world’s largest crypto mine, located in the industry’s new hotspot: Rockdale, Texas. “The two firms have in principle agreed with Northern Bitcoin AG subsidiary Whinstone Inc. to process cryptocurrency transactions at the German company’s facility within the […]
As reported on Bloomberg, “SBI Holdings Inc. and Japanese internet-service provider GMO Internet Inc. are about to start extracting Bitcoin at the world’s largest crypto mine, located in the industry’s new hotspot: Rockdale, Texas.
“The two firms have in principle agreed with Northern Bitcoin AG subsidiary Whinstone Inc. to process cryptocurrency transactions at the German company’s facility within the coming months, according to people familiar with the matter.
“Renting out capacity to SBI Crypto, a unit of SBI Holdings, and GMO may help Northern Bitcoin to get further large, crypto-savvy investors on board, the people added, asking not to be identified because the matter is private. Spokesmen for Northern Bitcoin, GMO and SBI declined to comment.
“Northern Bitcoin in recent years shifted away from mining Bitcoin itself and instead plans and operates mines for large investors, shielding it from wild price swings. Large leasing contracts typically boost revenues and profits.
“The Frankfurt-based firm last month said its data center in Rockdale will have an initial capacity of 300 megawatts when it starts operating and reach 1 gigawatt by year end. That is more than three times the capacity of a nearby crypto mine operated by China’s Bitmain Technologies Ltd., currently deemed the largest on earth and located in an old aluminum smelting plant of Alcoa Corp...”