US-based Bitcoin miner Gryphon buys 7,200 rigs from Bitmain

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Gryphon Virtual Mining has signed a purchase order settlement with Bitcoin (BTC) mining apparatus maker Bitmain to buy 7,200 Antminer S19J Professional mining rigs.

In keeping with a release issued on Thursday, all the outlay for the mining stock quantities to about $48 million. Beginning in August 2021, Bitmain will ship 600 mining rigs to Gryphon each and every month as a part of the deal.

The Antminer S19J Professional is the most recent iteration of Bitmain’s Bitcoin mining {hardware} slated for liberate into the marketplace this summer time. In keeping with the discharge, each and every rig provides 100 terahashes in step with 2d (TH/s) hash charge capability with an calories potency ratio of 29.5 joules in step with terahash (J/TH). With 7,200 of those machines in tow, Gryphon will theoretically see its hashing energy building up via an element of 720 petahash in step with 2d (PH/s)

Attaining a hashing capability of 720 PH/s — or 0.72 EH/s — will put Gryphon within the most sensible 15 Bitcoin miners via hash charge distribution in line with data from One of these milestone may well be an added success for the American Bitcoin miner because it units out to succeed in 100% renewable energy-based operations.

Similar: Bitcoin miners can prove green potential by undergoing ESG ratings check

Again in June, Brittany Kaiser, chair of the corporate’s board of administrators, advised Cointelegraph that the company’s electricity source was 100% renewable. Kaiser additionally printed that Gryphon will obtain its ESG score upon the release of its mining {hardware} in August.

Crypto mining has come beneath larger scrutiny in contemporary months over calories intake. Previous in July, the Bitcoin Mining Council estimated that the worldwide Bitcoin mining business used to be operating on a 56% renewable energy supply.

As prior to now reported via Cointelegraph, information from the Cambridge Bitcoin Electrical energy Intake Index has proven that BTC’s electricity consumption is down almost 60% from the highs recorded in mid-Would possibly.

This decline is possibly because of Chinese language miners going offline following a sweeping crackdown from the government within the nation. A number of institutions had been pressured to relocate their {hardware} out of the country.