Crypto Miner Merkle Increases Hash Rate 9x to 3.1EH/s in 8 Months

Merkle Standard, a bitcoin miner, has formed a joint venture with Bitmain, one of the world’s largest Bitcoin mining equipment manufacturers, to increase its total computing power, or hash rate, from about 0.3 EH/s to 3.1 exahash ( EH/s). The computing power of the partnership has been increased by 900%.

Merkle disclosed that it had added 40 megawatts of mining capacity (MW) to its South Carolina facility. This brought its total mining capability to 140MW.

The company said that the machines that will be used are Bitmain’s latest mining rigs, the S19 XP Mining Bitcoin (BTC), or S19J Pro models, which are among the most energy-efficient bitcoin mining machines on the market.

Site has exclusive rights to 50 megawatts more electricity. This allows the site to grow to 86 megawatts

Merkle’s main eastern Washington mine, the site currently generates 100MW online. It is expected to grow to 225MW by 2023. The maximum expansion capacity is 500MW.

Merkle has a second facility in South Carolina, Blue Ridge Base. It is expected to grow to 80MW of mining capacity by 2024.

January 21, 2022: Merkle Standard a digital asset mining platform that is sustainable, has announced a purchase order from Bitmain Technologies Ltd for new mining machines. The purchase agreement was for 13,500 mining machines from a major ASIC mining manufacturer.

As Bitcoin’s value plummeted 45 percent in June, many mining companies have gone to great lengths to adjust their operations; some are buying mining equipment, others are suspending mine construction, and still, others are expanding projects.

Bitfarms, which sold 1,500 bitcoins in June for $62 million, used the proceeds to reduce its debt.

CleanSpark expanded its infrastructure in July by purchasing 1,061 Whatsminer 30S rigs at deep discounts.

Source: Shutterstock

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