Mining farms to get $300 million investment from Phoenix Technology

Phoenix Technology, one of the largest miners in the Middle East, has decided to form a $300 million fund.

The foundation will help to expand its presence in the North American region. The company intends to open a BTC mining farm in the U.S. and equip it with flagship immersion-cooled models of asics.

The launch will take place in 2023. The miner is also ready to provide favorable terms for customers on WhatsMiner, hosting, and investments.

Phoenix Technology has been operating since 2015 and has reached a capacity of 700 MW. Hydroelectric power provides the bulk of the work. In the North American region, green energy sources are also planned. In addition, the reduction of energy consumption by miners will be achieved through AI and innovative cooling methods.