US-based Bitcoin miner Gryphon buys 7,200 rigs from Bitmain

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Gryphon Digital Mining has signed a purchase order settlement with Bitcoin (BTC) mining tools maker Bitmain to buy 7,200 Antminer S19J Professional mining rigs.

In accordance with a launch issued on Thursday, all the outlay for the mining stock quantities to about $48 million. Beginning in August 2021, Bitmain will ship 600 mining rigs to Gryphon every month as a part of the deal.

The Antminer S19J Professional is the newest iteration of Bitmain’s Bitcoin mining {hardware} slated for launch into the market this summer time. In accordance with the discharge, every rig provides 100 terahashes per second (TH/s) hash charge capability with an power effectivity ratio of 29.5 joules per terahash (J/TH). With 7,200 of those machines in tow, Gryphon will theoretically see its hashing energy enhance by an element of 720 petahash per second (PH/s)

Reaching a hashing capability of 720 PH/s — or 0.72 EH/s — will put Gryphon within the high 15 Bitcoin miners by hash charge distribution in line with knowledge from BTC.com. Such a milestone might be an added achievement for the American Bitcoin miner because it units out to realize 100% renewable energy-based operations.

Associated: Bitcoin miners can show inexperienced potential by present process ESG scores verify

Again in June, Brittany Kaiser, chair of the corporate’s board of administrators, advised Cointelegraph that the firm’s electrical energy supply was 100% renewable. Kaiser additionally revealed that Gryphon will obtain its ESG score upon the launch of its mining {hardware} in August.

Crypto mining has come beneath elevated scrutiny in current months over power consumption. Earlier in July, the Bitcoin Mining Council estimated that the worldwide Bitcoin mining trade was operating on a 56% renewable power provide.

As beforehand reported by Cointelegraph, knowledge from the Cambridge Bitcoin Electrical energy Consumption Index has proven that BTC’s electrical energy consumption is down nearly 60% from the highs recorded in mid-Could.

This decline is most probably resulting from Chinese language miners going offline following a sweeping crackdown from the authorities within the nation. A number of institutions have been pressured to relocate their {hardware} abroad.