The United States is about to become home to the largest cryptocurrency mining facility in the world as Germany based firm Northern Bitcoin merges with US based Whinstone US.
The merger will see the firms build the world’s largest Bitcoin Mining facility in Texas thus positioning it as a global leading player in crypto mining business.
According to the Press Release issued by Whinestone US on the 18th of November, 2019, Whinstone Inc has successfully operated its own Bitcoin mining sites in the US state of Louisiana and is now building the world’s largest Bitcoin mining facility with a capacity of one gigawatt on an area of over 100 acres of land in Texas.
The project will take three phases of which the first phase will be completed by the first quarter of 2020 with over 300 megawatts of capacity. The project is expected to be completed by the fourth quarter of 2020.
According to the Press Release, the first customers of the new site are two stock-listed firms that will use a significant portion of the capacity for Bitcoin mining. The firm also said, apart from bitcoin mining, the facility after completion can also be used for video rendering and artificial intelligence applications in the future.
Speaking on the merger, Aroosh Thillainathan, Co-Founder and Managing Director of Whinstone US said, “With stock-listed Northern Bitcoin AG, we have found the ideal partner to position our successful business development on the capital market from now on. The joint company has the immediate potential to shape the future course of the global mining industry,”
CEO of Northern Bitcoin AG, Mathis Schultz,
“With this merger, we are catapulting ourselves faster than originally planned to the top of the world in Bitcoin mining. Whinstone’s team has done a great job over the past few years and is proving its leadership in the blockchain industry by building the world’s largest mining facility,”
He went further saying, “Together, we have a dominant leadership position in this fast-growing industry and are well-positioned to benefit significantly from the future development of blockchain technology.”
The completion of the project will see the US home to the largest bitcoin mining facility globally. The joint venture will see both firm’s experienced management complement that of Northern Bitcoin
