Peak Mining Inks $150 Million Deal with MicroBT for Next-Gen Liquid-Cooled Miners

 In a significant move that marks the acceleration of liquid-cooled Bitcoin mining, Peak Mining, a subsidiary of Northern Data Group, has sealed a $150 million contract with MicroBT. The deal will equip Peak Mining with more than 7 Exahash (EH/s) of computing power through MicroBT‘s latest generation WhatsMiners. This massive deal was inked in June 2023 and allows Peak Mining to buy an additional $150 million worth of hardware.

The agreement showcases Peak Mining’s commitment to advanced cooling technologies. Specifically, the firm will deploy the new hardware across various global locations, starting with its 30MW facility in North Dakota. Thanks to liquid cooling, the machines can operate in hot climates and require less maintenance. The first batch of these state-of-the-art miners will arrive in October 2023.

Because of the new deal, Peak Mining is well-prepared for the upcoming Bitcoin halving in Q2 2024. In addition, the company aims to enhance its existing mining portfolio by installing new air-cooled units. Interestingly, the move complements the firm’s power procurement and risk management strategy, leading to a lower CAPEX per effective TH and higher output.

MicroBT’s WhatsMiners, assembled in the United States, are set to create local jobs. As a result, Peak Mining will also gain long-term access to the U.S. production line in partnership with Synos Corp. Furthermore, the company retains the option to source hardware from Thailand and China, optimizing its supply chain and fast-tracking global deployments.

Commenting on the collaboration, Niek Beudeker, Managing Director at Peak Mining, highlighted the significance of MicroBT’s cutting-edge mining technology. Similarly, MicroBT’s COO, Jordan Chen, expressed excitement over Peak Mining’s commitment to next-gen hardware.

This landmark deal not only cements Peak Mining’s position as an industry leader but also signals a larger shift towards environmentally efficient Bitcoin mining. As the sector matures, the emphasis on cutting-edge technology and sustainable practices is likely to intensify.