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Two Bitcoin Mining Startups Merge to Work on World’s Biggest Mining Facility

Mining 2019/11/18 21:00 by Rick D.

Consistent with its previously announced mission to build the planet’s largest Bitcoin (BTC) mining facility in Texas, Northern Bitcoin AG has just announced a new partnership. The Frankfurt-based company will be working with former rival Whinstone US, Inc. on the 300 megawatt facility.

The site chosen for the mining operation spans more than 100 acres. When completed, it will not only be the largest Bitcoin mining facility on the planet, but also the largest single data centre in North America. 

Northern Bitcoin and Whinstone Group Unite to Build Bitcoin Mining Mega-Farm

According to a press release published earlier today, the Frankfurt-based Northern Bitcoin AG has merged with one of its former competitors, Whinstone US, Inc. The two will work on one of the two massive new mining facilities recently announced for the state of Texas.

NewsBTC first reported on to-be-constructed facility last month. The more than 100 acre site will house the what is expected to be the planet’s largest BTC mining facility. Construction will take place in three different stages.

The newly partnered companies expect to complete the first phase of the mining mega-farm in the first quarter of 2020. Initially, the total capacity of the facility will be 300 megawatts. Whilst this will make it the largest BTC mining facility on the planet, there are plans to up the capacity to a massive one gigawatt by the end of next year.

Northern Bitcoin AG CEO, Mathis Schultz, commented on the recent merger:

“With this merger, we are catapulting ourselves faster than originally planned to the top of the world in Bitcoin mining. Whinstone’s team has done a great job over the past few years and is proving its leadership in the blockchain industry by building the world’s largest mining facility.”

Northern Bitcoin began in 2018. The company focuses on sustainable Bitcoin mining. It already operates a mining operation in Norway that uses renewable energy. As previously reported by NewsBTC, the firm has been developing its own hardware too. This includes a state-of-the-art cooling system that will allow it to operate equipment in the heat of a Texas summer.

Northern Bitcoin will follow fellow mining hardware manufacturer and operator Bitmain into the US state. The Chinese mining giant recently opened its own operation in Texas with a capacity of 50 megawatts. There are plans to increase this eventually to 300 megawatts.

Elsewhere, other interests are betting big on Bitcoin mining operations too. As NewsBTC reported recently, the Russian Mining Company plans to open a new facility in the province of Karelia, Russia. The facility will reportedly command about a fifth of the total current Bitcoin hashrate. Interestingly, the CEO of Russian Mining Company, Dmitry Marinichev, also happens to be the nation’s internet ombudsman.

 

Related Reading: Does Big Drop of Major Bitcoin Mining Firm’s US IPO Valuation Show Declining Crypto Sentiment?

Featured Image from Shutterstock.

The post Two Bitcoin Mining Startups Merge to Work on World’s Biggest Mining Facility appeared first on NewsBTC.

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