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BitFury to set up largest mining data centers in North America

BitFury to set up largest mining data centers in North America

Vancouver-based Hut 8 Mining Corp North is working in collaboration with Bitfury, on America’s largest bitcoin mining data centers before 2018.

Hut 8 could acquire the data centers from Bitfury and is reportedly offering 13.2 million shares via GMP Securities LP, which have been valued at U.S. $26 million.

The to-be-acquiring 22 data centers will provide the British Columbia firm with over 24 MW of hashing power. During the first phase while the second phase will involve an additional 35 data-centers packing 38.5 MW of power. The total will make it the largest data center in North America.

Also Read: Bank of America exploring patent for Blockchain processing system

“Bitfury’s market share, unmatched computing power, and ability to scale. In combination with a Board of Directors that former hedge fund manager Michael Novogratz. Besides renovation venture capitalist Bill Tai have both agreed to serve on. Thus it offers Hut 8 an extreme advantage in a competitive marketplace”.

BitFury has tested Bitcoin transactions on the Lightning Network platform and is well known for its mining rigs, and engages in constructing data centers and semiconductors, and has mined the first 1MB+ segwit block. It also runs a mobile bitcoin mining unit called Blockbox.

In fact, BitFury is  world’s largest bitcoin miner outside of China with 11 percent of the technology’s market share. They manufacture their own Application Specific Integrated Circuit (ASIC) chips.

Although, China is popular for its mining game. Thus data centers will sustain for setting ups. Like in Russia, Northern Europe, and North America will certainly change the game in the mining industry.

Author

David

David Kariuki is a journalist who has a wide range of experience reporting about modern technology solutions including cryptocurrencies. A graduate of Kenya's Moi University, he also writes for Hypergrid Business, Cryptomorrow, and Cleanleap, and has previously worked for Resources Quarterly and Construction Review magazines.