Bitcoin

US Based Bitcoin Mining Company Requests 1,100 S17 Miners Service from Bitmain

The cryptocurrency market is regaining strength after a huge loss of over $3,000 in less than 10 days, placing Bitcoin below $9,300. However, Bitcoin is now riding on the upside trend of the market with a gigantic force that signals massive bull as BTC adds to its value.

At press time, Bitcoin is worth $10,500 and there is hope that it will soar more in hours to come as it looks to have outplayed the traduces it got from the United State government.

While Bitcoin continues to display its formidability to the world, mining activities of the crypto asset which remains an important action of the blockchain network, is also on the rise.

According to a report, a US based Bitcoin mining company is looking to step up its mining activities by acquiring more miners.

MGT Capital Investments, Inc., in a statement it issued to investors on July 16, 2019, declared that it has requested the services of 1,100 miners from Bitmain.

The 1,100 S17 Antminers MGT requested from the consumer-grade 16nm ASIC mining company, Bitmain, is “expected to ship from Malaysia in October 2019 without Chinese tariffs”.

Per the report, each of the miners is evaluated with a maximum hashrate of 56 Th/s with the capacity of producing 60+ Ph/s computing strength.

MGT looks forward to enhancing the efficiency of its energy consumption through the latest development. A total of 2,860 W of electricity is to be consumed by each miner every hour.

Compare to Bitmain S9 miners which the company uses at present, S17 miners are more efficient in energy consumption.

Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.

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About the author

Khalid Lawal

Lawal Khalid is an avid entrepreneur and a peace advocator. He takes time developing expertise in journalism, and he has significant contributions at Arianna Huffington's Thrive Global, Oracle Times, Coin Gape and a host of other notable news publications.

Owing to his long time interest in innovative technology, Lawal cut into the blockchain world, and he has been unearthing meaningful investigation as well as noteworthy blockchain researches.

Khalid sits at the helm of NewsLogical.com as a full time journalist and a senior market analyst.

Email: lawal.khalid@newslogical.com

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