Within the crypto industry, mining is a big business as it is the method by which cryptocurrencies are released and created and many times, the mining industry is a reflection of the fortunes of the industry as a whole. Since the price of cryptocurrency is fairly stable at the moment, mining is a fairly profitable business as even in China that has banned cryptocurrency used, there is a thriving mining scene. The growth of mining has seen many new firms spring up, with some being more prominent than others.
Now, Northern Bitcoin, which is a German mining firm, has entered into a partnership with Whinstone, a United States mining firm to launch what they say will be the world’s largest crypto mining firm.
This was announced in a November 18, 2019 press release in which Whinstone stated that they have begun work on the mining farm which will have the capacity of one gigabyte and an area of 100 acres and will also be the largest data center in North America. The facility in question is located in Texas and should be fully operational in the near future.
The first phase of construction is expected to be completed by the end of the first quarter of 2020 and will have a capacity of 300 gigabytes. The final stage of construction is expected to be finished by the fourth quarter of 2020. The first two clients that will make use of the facility have already been stated to be to publicly traded companies that will use most of that capacity for bitcoin mining. Even after this, there will still be facilities that will be used for video renderings as well as artificial intelligence development.
It should be noted that even though the majority of crypto use takes place within the United States, China is currently leading when it to comes to crypto mining despite their ban on crypto and this, many believe, is due to their competitive rates and this sees China being the home of many of the major crypto mining firms such as Bitmain.