Business

Erik Gibbs

Northern Bitcoin doubles mining capacity as crypto hash rates grow

The recent bull run has reinvigorated the cryptocurrency mining industry to a certain degree. Northern Bitcoin, a crypto mining company out of German, has announced that it recently doubled its mining capacity after it purchased 4,475 ASIC (application-specific integrated circuit) mining rigs from two different suppliers. Northern has now gone from being able to mine 57 petahashes per second (PH/s) to about 112 PH/s.

Northern began its move toward expanding mining operations last week. It stated at the time that it had begun scaling its business after launching six new mobile mining containers at a facility in Norway, which was already managing 55 PH/s. That site now has a total of 21 mobile containers. 

In a press release about the expanded mining efforts, Northern CEO Mortiz F. Jäger stated, “The acquisition of the sought-after hardware is a great success for our company. With the doubling of our mining equipment just a few days after the start of our global scaling, we are setting the pace with which we aim to take a leading position in the fast-growing blockchain industry in the coming years.”

The hash rate of Bitcoin Core (BTC) has continued to climb and set new records. Yesterday, it broke the 69 quintillion hashes-per-second mark, which is an incredible feat for digital currency. That level has brought other miners back to life, including Plouton Mining, a US-based company that is opening a new plant in California. That facility, which is being built in the Western Mojave, will reportedly be the largest solar-powered installation in North America. It will offer 49 acres of solar panels that will generate 10-13 megawatts of electricity each day.

Northern further offers in its press release, “Northern Bitcoin AG is a technology company focused on the Bitcoin blockchain. It is challenging the status quo of Bitcoin mining and redefining it. As a pioneer, it provides Bitcoin and blockchain technology with a sustainable infrastructure. To this end, it operates its own state-of-the-art mining hardware based on renewable energy sources under extremely cost-efficient and secure conditions as well as a self-developed mining pool. The company is headquartered in Frankfurt am Main.”

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

COMMENT

[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]