Alps Blockchain Eyes South America in Bid to Quadruple Mining Power
In a bid to ramp up their mining operations, Alps Blockchain has fortified its partnership with Bitmain. The Italian company has committed to a $32 million deal to purchase additional Antminer S19 XP units from Bitmain. This strategic move is part of their ambitious plan to quadruple computing power capacity by year-end.
This latest hardware order includes the Antminer S19 XPs, renowned as the most energy-efficient mining machines in the market. The units will be delivered by Bitmain in separate batches between the second and third quarters of 2023.
Alps Blockchain plans to leverage the newly acquired hardware to expand its infrastructure internationally, primarily focusing on South American sites. Once operational, these units will boost the company’s total computing power to more than 1.5 exahash per second (EH/s). Such a surge represents an impressive fourfold increase in the company’s current hashrate.
The company is known for its commitment to renewable energy sources. Since 2018, it has concentrated its efforts on establishing mining farms powered by renewable energy. In Italy, Alps Blockchain operates in around 20 hydroelectric power plants, offering innovative design, installation, and management services for custom mining farms within the facilities.
Earlier this year, Alps Blockchain received an investment boost from the Azimut Group. This $40 million capital influx is set to accelerate the company’s internationalization, infrastructure growth, and development of sustainable mining solutions. The CFO of Alps Blockchain, Francesca Failoni, expressed optimism about the Bitmain partnership, underlining it as a significant step towards sustainable development and growth in the mining industry.
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