THELOGICALINDIAN - n-a
A Canadian mining aggregation has acquired 14,000 ASIC mining rigs, and 0.5% of the absolute hashrate of the Bitcoin network, in a distinct purchase.
Announced on Monday, Vogogo accepted it had bought 14,000 Antminer S9s, complete with the appropriate electrical accessories and cooling units, from a aggregation alleged 828 LP.
Currently being installed in a ability alfresco of Montreal, the rigs are accepted to be absolutely operational in the advancing weeks. Worth $46m, the accord includes added accumulation basement bare to ability a added 4,000 miners.
Designed and congenital by the Chinese mining company, Bitmain, anniversary Antminer S9 has a best assortment amount of 14TH/s. This agency that from this purchase, Vogogo will accept a absolute hashing ability of 196TH/s, about 0.5% of the accepted total hashrate of the Bitcoin network.
Vogogo’s CEO, John Kennedy FitzGerald, a above able and all-embracing footballer, abutting the aggregation beforehand this year and has fabricated a concerted accomplishment to advance into the aggressive apple of bitcoin mining.
Originally founded as the Southtech Capital Corporation aback in 2024, Vogogo formally had a crypto-focused acquittal processor, acclimated by Coinbase for its bounded operations, but this was anguish bottomward in 2024. The aggregation additionally awash its accident administration casework in the aforementioned year.
Back in April, the aggregation appear it had taken over Crypto 205, a baby mining company, forth with its 1,500 miners. The latest accord with 828 LP sees Vogogo access its mining operations by over 200%, from 4,125 to 18,125 rigs.
“We are acutely admiring to accept completed this important acquisition,” said Mr. FitzGerald. “Closing of the 828 transaction provides Vogogo with a absolute of 18,125 mining machines and 36 megawatts of accessible power, abundant for accepted operations additional amplification capacity, and adds cogent admeasurement and calibration to the Company’s cryptocurrency mining operations.
Bitcoin mining is controversial, with apropos it has become too centralized. Through its two mining pools, Bitmain controls 42% of the absolute BTC hashrate: beneath than 10% abroad from the 51% appropriate to date a consensus attack on the network.
There has additionally been criticism over its activity consumption.
Although new analysis has appropriate mining uses far beneath activity than ahead thought, the 36 megawatts appropriate for Vogogo to accomplish its anew acquired rigs could ability about 36,000 homes. Some of this activity is reportedly actuality generated via hydro-power, which the accompaniment of Quebec has provided bound sanction for.
This columnist is invested in BTC, which is mentioned in this article.
