According to his investor presentation, Griid expects to mine 637 BTC this year with a total hash rate of 187 petahashes per second (PH / s) from all miners combined. By 2024, the company expects to mine 24,348 BTC per year, with a total hash rate of over 26,180 PH / s. In context, the total hash rate of the entire Bitcoin network is currently around 156,000 PH / s.
The company also claims that the newly developed chips in their miners can outperform one of the best integrated circuit bitcoin application-specific mining devices available, the S19 Pro. Comparing its proprietary machine to the S19 Pro, Griid boasts that it is 15% more efficient, 50% cheaper and delivers a 130% higher gross profit per year. Currently, around 70% of the company’s Bitcoin mining is carbon-free.
Trey Kelly, CEO of GRIID, commented on the development as follows:
We’re building an American infrastructure company with the largest dedicated carbon-free energy supply among public Bitcoin miners with the lowest production costs.
David Shrier, CEO of Adit EdTech added:
Carbon-free mining is the future of Bitcoin. GRIID’s combination of an inexpensive, carbon-free massive power system, exceptional access to next-generation ASICs, and a market-leading execution position for profitability and attractive growth.
Network business indicators | Source: Presentation by the company’s investor
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