BIT Mining and Viking Data Centers are collaborating to set up a new Bitcoin mining site in Ohio, USA. The site is expected to begin mining its first Bitcoins in 2022.
Bitcoin mining: BIT Mining comes to Ohio
On September 22, 2021, BIT Mining announced in a release that it has entered into a $12.14 million equity purchase agreement with Viking Data Centers to establish a Bitcoin mining facility in Ohio.
BIT Mining Limited will invest USD 10.84 million in the mining facility. The remaining 1.3 million will be settled either in cash or in shares of the company’s Class A common stock. BIT Mining Limited holds a 51% interest in the mining facility, while Viking Data Centers holds 49%.
The site is expected to be operational by February 2022. It will be deployed in three phases. It is expected to have an energy capacity of 11 MW at the end of the first phase scheduled for October 15, 2021, followed by 39 MW and an additional 35 MW in the second and third phases. These last two phases are scheduled to be completed on November 15, 2021 and February 15, 2022. Eventually, the site’s energy capacity should reach 85 MW. According to the release, BIT Mining Limited has shipped 1,016 mining machines to the United States.
Hong Kong Bitcoin mining giant’s international ambitions
BIT Mining is a leading cryptocurrency mining company based in Hong Kong. The company is the owner of the entire mining pool business operating under BTC.com, including the domain name BTC.com.
The company recently announced its expansion outside the Chinese market. In July 2021, it purchased 2,500 Bitcoin mining devices for $6.6 million, to be deployed in Kazakhstan. This purchase is in addition to the 3,819 machines already operating in data centers in the country, and another 4,033 that were in the process of being delivered. BIT Mining’s hash power is expected to cross the 450 petahash per second mark once all the devices are deployed.
BIT Mining and Viking Data Centers’ Bitcoin mining site will bolster Ohio State’s crypto ecosystem, alongside Standard Power’s nuclear-powered mining farm.