Bitmain to partner with Mining Facility Operator Enegix

Bitmain to partner with Mining Facility Operator Enegix
Bitmain to partner with Mining Facility Operator Enegix

Bitmain to partner with Mining Facility Operator Enegix – Leading mining equipment producer Bitmain has announced a partnership with Enegix. As part of the agreement, the ASIC giant will host Antminer S19 Pro miners in a 180MW facility operated by Enegix in Kazakhstan, which is one of the largest in the world.

Enegix focuses its business efforts on designing, building, and operating data centers since 2017, a press release published by Bitmain details. The one in question was commissioned in late 2020 and is the company’s third such facility. Its total capacity exceeds 50,000 current-generation mining rigs.

Commenting on the new project, Bitmain Mining Division Vice President Du Shisheng noted that his company is pleased to have a solid strategic partner in the region and stated:

Enegix is a clear leader in design and operation of large-scale mining facilities. Their success over the years has put them on the map for all major bitcoin miners.

“Enegix is pleased to be able to offer Bitmain the remaining capacity of its 180MW facility. This step from the leading manufacturer of ASIC miners is very important for our company, as it shows trust in our operation,” Enegix CEO Yerbolsyn Sarsenov added. He expressed hopes that the cooperation will be beneficial for both companies and continue into the future.

Enegix to Build More Mining Centers in Kazakhstan

Enegix plans to further expand its activities in Kazakhstan in response to surging demand from cryptocurrency miners. The company wants to develop additional mining infrastructure and is working on design projects for new mining facilities in the Central Asian republic. Enegix is also negotiating agreements for the purchase of electricity to power the crypto farms.

Amid an ongoing crackdown, Chinese companies involved in cryptocurrency mining have been migrating to friendlier jurisdictions in the region, most notably Kazakhstan. In May, Shenzhen-based Bit Mining announced it’s planning to build a 100 MW mining data center there, in partnership with two local companies.

According to a study by the University of Cambridge, the country has seen a six-fold increase in its share in global bitcoin extraction in less than two years. It now ranks third in the world by crypto mining volume. However, the government in Nur-Sultan decided to introduce a surcharge for electricity used by mining entities. The local crypto industry expressed concerns the move could turn away potential investors.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.

About Sam Gabriel 1696 Articles
Samson Gabriel a graduate of mass communication from Auchi Polytechnic, he is a passionate writer with experience in radio scrip writing. He brings his experience from the broadcast media into play here as he continues to enjoy his passion as a journalist. He can be contacted via whats-app on: +234701105670

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