Categories: Bitcoin

Gryphon BTC Miner bought 7200 rigs from Bitmain: report

BTC miner Gryphon recently purchased 7,200 drilling rigs from Bitmain, valued at $ 48 million, which are set to go live this summer. So read more on our latest bitcoin news today.

Gryphon Digital Mining has signed a purchase agreement with Bitcoin mining manufacturer Bitmain for the purchase of 7200 Antiminer S19J Pro mining rigs. According to the press release, the total cost of the mining pool is $ 48 million, and starting in August, Bitmain will provide Gryphon with 600 mining rigs each month as part of the deal.

Antminer S19J Pro is the latest batch of BTC mining hardware that is expected to hit the market in August. According to the announcement, each rig offers a hash rate of 100 terahashes / second with an energy efficiency ratio of 29.5 joules / terash. With 7200 rigs acquired, Gryphon will increase its hash power by 720 petahashes per second. Achieving this capacity would put Gryphon in the top 15 BTC miners by hash rate distribution, and the milestone could be an additional achievement for the U.S. Bitcoin miner if they keep their goals in mind: 100% renewable energy operations .

The company’s power supply is 100% renewable, and Kaiser announced that the Gryphon will receive an ESG rating when its mining hardware is launched, said Brittan Kaiser, chairman of the company’s board of directors. For the past few months, cryptocurrency mining has been under scrutiny for its energy consumption, and in July we saw the Bitcoin Mining Board estimate that the global BTC mining industry uses 56% renewable energy. Data from the Cambridge Bitcoin Electricity Consumption Index shows Bitcoin consumption is down 60% from mid-May highs. The decline is most likely due to miners going offline after crackdown in China. Some facilities are also being forced to relocate their hardware to another location outside of China.

Speaking of China, China’s crackdown on BTC mining has caused hash rates to plummet and is used to outline the negative environmental aspects of the most popular cryptocurrency, but the consequences remain unsolved, according to the UK chief scientist. Pete Howson, a senior lecturer in international development at Northumbria University in the UK, says China is embarking on a global arms race in BTC mining equipment that will have devastating effects and could be prevented by coordinated global crackdown.

DC Forecasts is a leader in many crypto news categories, always striving for the highest journalistic standards and adhering to strict editorial guidelines. If you would like to share your expertise or contribute to our news page, please contact us at [email protected]

.

.

Coincu

Recent Posts

Missed the AAVE Bullish Ride? This New Presale Can Turn Your Thousands into Millions

While Aave finds itself in uncertain territory, a fresh face in the crypto scene, Qubetics…

1 hour ago

Dogecoin Price Forecast: Analysts Push For $0.2288 DOGE While This Ethereum Altcoin Eyes 8,000% Gains In The Next 16 Days

Analysts push for a Dogecoin price surge to its $0.2288 yearly high while ETFSwap (ETFS)…

2 hours ago

Below $1 Swift Altcoin Competitor Could Overshadow XRP Price Potential Election Rally 

Discover the promising altcoin under $1 that may outperform XRP amid election volatility and market…

2 hours ago

Polkadot and SP Negócios Collaborate to Enhance Crypto Economy Development

Campinas, Brazil, 5th November 2024, Chainwire

2 hours ago

Terra Shuttle Bridge Has Now Been Disabled

Terra Shuttle Bridge has now been closed, and all remaining LUNC and USTC tokens have…

4 hours ago

FLOKI Announces Dubai Takeover with WAFI Mall Campaign

Miami, Florida, 5th November 2024, Chainwire

4 hours ago

This website uses cookies.