US Contract Miner Core Scientific Buys 17,600 Bitcoin Miners From Bitmain

The US contract mining company Core Scientific has signed an agreement to purchase 17,600 mining equipment from Chinese Bitcoin hardware manufacturer Bitmain Technologies Inc.

The company buys next generation Bitmains Bitcoin (BTC) Bergmann, the Antminer S19, it said in a statement on June 29th. Over the next four months, the miners will be fully installed in data centers operated by Core Scientific in the United States.

Washington-based Core Scientific didn't disclose the cost, but the deal could total $ 30 to $ 42 million. Each S19 machine currently costs $ 1,785, while the newer S19 Pro costs $ 2,407, according to the Bitmain shop.

According to Core Scientific, the purchase is made on behalf of its institutional customers and for their own use. It is also claimed that the deal is S19's largest acquisition BTC Miners from a single blockchain hosting company.

Kevin Turner, president and chief executive officer of the company, commented:

Core Scientific received the first of the newest ASIC miners from Bitmain and started testing. Significant successes were achieved in increasing the existing hashrate to 110 TH / s ± 3%.

Bitmain confirmed the deal in a Blog Post Office. The Antminer 19 series uses Bitmain's latest generation of application-specific SHA256 integrated circuits (ASICs), making it more energy efficient than previous models from the Beijing-based company.

according to For F2pool, a large global bitcoin mining network, the Antminer S19 model makes a daily profit of up to $ 3.03. Bitmain's latest offering, the Antminer S19 Pro, makes a profit of $ 4.12 a day. The figures are based on average electricity costs of $ 0.05 per kilowatt hour (kWh).

The Antminer S19 has a computing power or hash rate of 95 terahash per second (TH / s) and an energy efficiency of 37.5 joules per terahash (J / TH). The Pro version has 110 TH / s and an energy efficiency of 29.5 J / TH.

Bitcoin miners have been forced to look for more efficient mining equipment since the May 11 offer cut event, reducing miners' revenue by 50% from 12.5 to 6.25 BTC per block. The United States appears to be improving its game on this front.

What do you think of Core Scientific's ambitions? Let us know in the comments below.

Image credits: Shutterstock, Pixabay, Wiki Commons

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