Two Bitcoin mining firms entered a merger agreement and plan to jointly build the world’s largest mining farm.
German Bitcoin (BTC) mining firm Northern Bitcoin has entered a merger agreement with United States-based competitor Whinstone to jointly build what will supposedly be world’s largest mining farm.
According to a Northern Bitcoin press release published on Nov. 18, Whinstone is already building the aforementioned facility which is expected to have a capacity of one gigawatt on an area of over 100 acres in Texas. The mining farm in question will allegedly be the largest data center in North America.
A quick construction plan
The first phase of the construction — which is expected to conclude in Q1 2020 — will already have a capacity of 300 megawatts. Construction is expected to be completed in Q4 2020.
The first two clients that will take advantage of the upcoming facility will reportedly be two publicly traded corporations that will use a significant portion of its capacity for Bitcoin mining. Still, after its completion, the data center will also allow for the acceleration of video rendering and artificial intelligence applications.
Northern Bitcoin is a stock-traded company founded last year that specializes in sustainable Bitcoin mining. The firm operates a mining farm on renewable energy in Norway.
The idea of placing the world’s largest mining facility in the U.S. is interesting, given that China has so far been at the forefront of the cryptocurrency mining industry and hosts many of the leading companies of the industry, such as Bitmain.
According to a recent analysis, low power costs in addition to access to cheap hardware make China a competitive destination for cryptocurrency mining operations, despite the country’s legal environment.