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Australian infrastructure Mawson increases number of bitcoin mining machines in US

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Australian digital and crypto firm Mawson Infrastructure has purchased hundreds of new mining machines from the Chinese maker and Nasdaq-listed Canaan Creative.

Mawson said he has received 250 Bitmain Antminer S19 Pro machines and expects to receive 570 more Avalon A1246 units from Canaan by the end of the month, according to a press release on Tuesday.

The S19 Pro is one of the latest editions in the line of mining chipmaker Bitmain, capable of producing 110 tera hashes per second with an energy efficiency of around 29.5 joules per tera hash. Tera hashes are a measure of the computing power of the mining machine. The hash in joules per tera measures energy consumption.

At its flagship U.S. site in Georgia, which generates electricity derived primarily from renewable energy sources, Mawson expects adding new machinery to help break even when mining costs hover. around $ 4000 or less per bitcoin.

Gross margins are expected to be above 80% based on the current price of bitcoin and the difficulty of its network.

Mawson expects to receive an additional 588 Avalon A1246 mining machines in August, the statement said.

This is the latest in a series of deliveries for Mawson. The company recovered 11,760 A1246 miners in Canaan in April.

“Our strong relationships with leading manufacturers of Application Specific Integrated Circuit (ASIC) mining hardware allow us to meet our business goal of 2,000 PH by the end of 2021 and 5,000 PH by the end of 2021. by the end of 2022, ”said James Manning, CEO of Mawson. In bitcoin mining, a “PH” refers to the ability to calculate one billion calculations per second.

The Sydney-based mining company has operations in the United States and Australia.

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