Blockcap plans to have 50K Bitcoin miners operational by 2023

One of the biggest crypto mining companies in North America stated that it has acquired a further 8,000 rigs and has begun mining different cryptocurrencies. 

In an announcement from Blockcap on Monday, the mining agency stated it deliberate to have greater than 50,000 mining rigs on-line by the top of 2022. Blockcap now controls greater than 12,000 mining rigs, producing greater than 6.6 Bitcoin (BTC) day by day — roughly $380,000 on the time of publication. The agency added that it was accelerating its transfer to mine different cryptocurrencies together with Ether (ETH).

According to the agency, the addition of the ETH mining rigs in operation would account for 1.229 terahashes per second, or roughly 0.21% of that of the Ethereum community. The greater than 50,000 Bitcoin miners, when totally operational, are projected to management roughly 2% of BTC’s present mixed hash charge.

“Blockcap’s progress technique is targeted on bringing varied peer-to-peer digital property instantly to the individuals who will make the most of them to enhance their lives,” stated Blockcap govt chair and founder Darin Feinstein. “We try to contribute to the vital infrastructure essential for mass adoption of those digital asset applied sciences so individuals can take part extra totally within the international monetary system.”

Both Blockcap and Riot Blockchain — two of the biggest crypto mining operations within the United States — have introduced plans to arrange store in Texas for his or her company places of work and their mining services, respectively. Blockcap raised greater than $75 million in two funding rounds led by Off The Chain Capital and Foundry Digital.