Mawson will boost bitcoin mining capacity by 300 MW in Georgia site
Mawson is a U.S based company and this company is expanding their crypto mining business at a huge level. To increase the profitability they are working on electricity power generation directly for their mining firm. And also they are buying Mining equipment in huge numbers.
After China’s crackdown on crypto mining & trading. Huge numbers of companies are looking to grow their business in mining because of the huge opportunity. Mawson is also taking advantage of this situation and they are doing their best to increase the capacity of their mining firm to gain significant gain in the crypto mining business.
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According to reports, an announcement was made by the Mawson company to expand their business and enhance their potential to increase their hash power. So as per announcement they believed that their firm will get significant increment in hashpower which will push them to around hash power of 2,000 PH/s and 5,000 PH/s by the end of 2021 and 2022.
Mawson is expanding its business of mining across the U.S because they are seeing huge opportunity as China is no longer able to host the mining firms under new ban rules.
Nick Hughes-Jones, Mawson’s chief commercial officer, said that they are in the second phase of their plans and they have full belief that they will complete their goal in September easily, so it will be easy for them to go with the next phase of work in the fourth quarter of 2021.
“being built and is due for completion in September” and the third phase is scheduled for Q4 2021″
Also they said that on the site of Australia they bought around 29,000 units of mining equipment. And they expect that they will get delivery by 2021 to 2022. And through the Canaan, Australia site they will be able to grab 90% profit from their firm with the spend of electricity cost of $0.04 per kWh, as per current price of Bitcoin.
Read also: Internet giant Kakao will push blockchain services to Singapore
