Bitcoin miningBlockcapBusinesshash rateMiningtexasUnited States

Blockcap plans to have 50K Bitcoin miners operational by 2023

Executive chair and founder Darin Feinstein said the firm plans to make the U.S. a global leader in making blockchain technology mainstream.

One of the largest crypto mining firms in North America said that it has acquired an additional 8,000 rigs and begun mining other cryptocurrencies. 

In an announcement from Blockcap today, the mining firm said it planned to have more than 50,000 mining rigs online by the end of 2022. Blockcap now controls more than 12,000 mining rigs, generating more than 6.6 Bitcoin (BTC) daily — roughly $380,000 at the time of publication. The firm added it was accelerating its move to mine other cryptocurrencies including Ether (ETH).

According to the firm, the addition of the ETH mining rigs in operation would account for 1.229 terahashes per second, or roughly 0.21% that of the Ethereum network. The more than 50,000 Bitcoin miners, when fully operational, are projected to control roughly 2% of BTC’s current combined hash rate.

“Blockcap’s growth strategy is focused on bringing various peer-to-peer digital assets directly to the people who will utilize them to improve their lives,” said Blockcap executive chair and founder Darin Feinstein. “We strive to contribute to the critical infrastructure necessary for mass adoption of these digital asset technologies so people can participate more fully in the global financial system.”

Both Blockcap and Riot Blockchain — two of the largest crypto mining operations in the United States — have announced plans to set up shop in Texas for their corporate offices and mining facilities, respectively. The first raised more than $75 million in two funding rounds led by Off The Chain Capital and Foundry Digital.


Story Originated on Cointelegraph

Related posts
BusinessCBDCcentral bankdigital currencyisraelshekel

Israel's central bank floats possible digital shekel with new action plan

The bank has been exploring the introduction of a CBDC since 2017. The Bank of Israel is accelerating its research for the potential issuance of a central bank digital currency. In a statement from the central bank today, the Bank…
bitcoin etfBloombergBusinessSEC

Bloomberg Analyst Sees A U.S. Bitcoin ETF Coming In 2021

Bloomberg’s top ETF analyst Eric Balchunas sees 2021 has explained why the approval of a bitcoin ETF in the U.S. might be imminent. There has been a lot of hype over a bitcoin exchange-traded fund (ETF) arriving in the U.S….
auctionsBusinessebayMarketplaceNFTNonfungible Tokens

Online marketplace eBay now allows NFT sales

A representative said that eBay “will add new capabilities that bring blockchain-driven collectibles” to the platform. Online marketplace eBay has introduced auctions for nonfungible tokens to its platform. According to a Reuters report, eBay users who meet certain criteria on…