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September 23, 2020
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The American company will buy 17,000 Antminer S19 | Blocksats

American provider of blockchain hosting services – Core Scientific, has signed a contract for the purchase of new generation excavators from the main Chinese mining equipment manufacturer – Bitmain.

17,000 Antminer S19 excavators

Core Scientific will purchase over 17,000 Ant19er S19 from Bitmain on behalf of its customers and for its own use. According to the company, this will be the largest number of S19 excavators purchased by one blockchain company.

Kevin Turner, president and CEO of Core Scientific and former operations director of Microsoft said:

“Core Scientific received and started testing the first of the latest ASIC excavators from Bitmain and was significantly successful in increasing the existing hash index to reach 110 TH / s ± 3%.”

Texas began to attract many bitcoin mining companies.

In October last year, Bitmain opened the “world’s largest” bitcoin mine in Rockdale, Texas. In January, information appeared that SBI and GMO, two Japanese blockchain companies, have signed a contract with Northern Bitcoin AG – a whinstone subsidiary to process transactions at their Rockdale plant in cryptocurrencies.

Increased interest in North America

Russell Cann, director of customer service at Core Scientific, reported increased interest in high hashrate equipment in North American mining and explained the reason:

“Our view is that the increase in interest and the increase in capital and investment allocation can be attributed to the growing acceptance of cryptographic and / or digital assets as investment asset classes, as well as favorable North American investment features; in particular a stable geopolitical and regulatory environment, appropriate climatic conditions and many energy sources. “

According to Cann, mining laws in other jurisdictions were “sidelined” in the past, creating uncertainty among investors. In contrast, setting up mines in North America is beneficial because of “energy system stability as well as land ownership regulations.”

Russell Cann added that the recent collapse in energy prices makes the North America region more attractive:

“Importantly, with the collapse of energy prices, lower electricity costs in the US and Canada create some unique design opportunities for larger-scale miners such as Core Scientific.”

This does not mean, however, that investors are giving up digging in other countries such as China. Cann suggested that investors want to diversify their investments and deploy them more globally.

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