China’s Crackdown on BTC Mining Shifts Hash Power to the West; More Miners to Come Online
US Bitcoin mining facility operator Compute North has disclosed plans to expand its services. The firm, which has centers hosting Bitcoin miners in Texas, Nebraska, and South Dakota, intends to scale up its capacity by 1.2 gigawatts over the next 12 months.
Compute North To Host More Bitcoin Miners
In an interview with TheBlock, Compute North's CEO Dave Perrill said the firm already has five sites under construction, which would be operational by the end of next year.
Perrill added that the energy powering the new facilities would be a combination of renewable and fossil fuel sources.
Compute North is not the only firm with hosting plans amid a global supply crunch for hosting Bitcoin miners. Bitcoin mining data center firm Bit5ive is also set to manage the development of a 100 megawatts facility.
The firm announced that it had finalized its land lease development agreement, which grants the firm full use of a 1st phase 7-acre parcel of property in Georgia fitted for cryptocurrency mining operations.
Russia-based BitRiver also just signed a mining hosting agreement with internet company The9 Limited to provide an initial total power supply capacity of 100MW.
HIVE Blockchain to Increase Hashrate
The Chinese crackdown has also seen Bitcoin mining firms increase their hashrate. Mining firm Hive Blockchain is set to increase its operating hashrate by 46% with its newly purchased 3,019 Bitcoin mining machines.
The machines, MicroBT WhatsMiner M30S, will be put to work with an aggregate hash power of 264 Petahash per second, the firm stated.
Hive said that the purchase of the machines, which it predicts will generate an additional $80,000 in daily income, were bought from Foundry Digital, a subsidiary of Digital Currency Group.
Hive's Executive Chairman Frank Holmes, while speaking on the firm's new feat, spoke on the recent relocation of miners from China. He said that the shift of mining power from the East to the West is “exciting” for his company.
Since China started clamping down on miners in different provinces, miners have resorted to relocating to Kazakhstan, Canada, and the US.