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US Bought Chinese Miners

It seems that the United States has entered an interesting business deal with China.

In recent reports, Bitmaker Technologies Inc. from China was bought by Core Scientific (CS), a U.S. mining company for an estimated 17,600 mining rigs.

Specifically, CS acquired the next generation miner called Antminer S19 at the end. This technology will be capable of full installation available at data centers powered by operation from Core Scientific. This, according to the reports, would be prepared in the next four months.

An estimate of $30-$42 million deal, CS has also limited statement on other contract specifics although Bitmain shop price details tell that S19 machine is being sold $1,785 while newer Pro version is going for $2,407,

The biggest acquisition of a sole blockchain hosting firm, CS has been moved by its own customer demands to improve and explore innovative offerings and services within internal and external services.

In a statement of its Chief Executive Officer Kevin Turner, he said that they have begun the first phase of the project which covers testing of Bitmain’s new ASIC miners. This also has manifested material success in upsurging the current hash rate which can lead to getting 110TH ± 3%.

Apart from this, it has been reported that Antminer 19 series is equipped with the most updated generation of SHA256 Application-Specific Integrated Circuits (ASICs), claiming as a more energy-efficient vs. other models.

The product of the Beijing-based entity, Antminer S19 model produces up to $3.03 of profit while Antminer S19 Pro rakes a profit of $4.12 per day. The figures are based on an electricity cost of $0.05 per kilowatt-hour (kWh). Moreover, the device is recorded to have a computing power or hash rate of 95 terahash per second (TH/s) and power efficiency of 37.5 joules per hash (J/TH). Whereas, the Pro version comes with 110 TH/s and power efficiency of 29.5 J/TH.

With the increasing search to find innovation and stream to gain the loss incurred by the pandemic, it seems that location-based businesses are no longer up within geographical constraints as this deal went overseas.

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