Wall Street Bitcoin Miner BTC Digital Deploys 2,000 BITMAIN T21 Miners

2024-12-04 10:18:37 Primitive Reading

From Financemagnates by Tareq Sikder

BTC Digital Ltd. (NASDAQ: BTCT), a provider of Bitcoin mining services, announced that its contract with BITMAIN, a mining hardware manufacturer, is progressing as planned. The company intends to deploy 2,000 units of BITMAIN’s T21 miners to its North American facilities within the next 3–6 months.

BTC Digital Expands Hash Rate Capacity

The T21 miners, BITMAIN’s latest product, offer 190 terahashes per unit and use 3610 watts of energy per unit. Once deployed, BTCT's total hash rate capacity will increase to 600 petahashes, nearly three times its current capacity.

BTCT is working on logistics, equipment installation, and network optimization to ensure the miners are operational on schedule.

This upgrade aims to improve the company’s mining efficiency and output, strengthening its position in the global cryptocurrency market. The company also plans to pursue further partnerships and scaling strategies .

"The introduction and deployment of the T21 miners mark a significant milestone in the evolution of our mining operations,” the CEO of BTCT stated.

“These devices will boost our mining capacity, optimize energy efficiency, and create greater potential value for our company. We look forward to continuing our collaboration with BITMAIN to advance the cryptocurrency industry."

BTC Digital Plans Expansion in Southeastern US

Earlier, BTC Digital announced plans to expand its operations in Arkansas, Tennessee, Georgia, and Missouri, as reported by Finance Magnates. The company aims to increase the scale and number of its mining facilities to meet rising demand for computational power.

BTCT is exploring various strategies, including constructing new facilities, acquiring existing mines, and forming partnerships with local businesses. The focus is on securing a reliable, long-term energy supply, with an emphasis on renewable energy and low-carbon emissions.

The Southeastern US is considered a strategic region for expansion due to its energy resources, business-friendly environment, and policy support. BTCT’s evaluation of local energy infrastructure and regulations will inform project selection aligned with sustainability goals.

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