First Bitcoin Mining Company Acquisition

in LeoFinance3 years ago

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There's no secret about it anymore. Bitcoin and crypto are here to stay and major companies are starting to make major plays.

One such move is Bitcoin mining company RIOT Blockchain buying Whinstone which is the leading Bitcoin hosting facility for a whopping 651 Million!

This move hasn't yet spelled an increase in the stock price but I feel with the increase price of Bitcoin (which also even 7 year old ANT miners asics now profitable means this company could be set up for a major rally.

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The Whinstone site has a total power capacity of 750MW and another 300MW currently in development.

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Riot Blockchain has also announced another contract to buy another 42,000 S19j Antminers These things are POWER houses each one in itself.

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As of writing this each one can mine and profit $36.51 a day $1,095 a month or $13,142 a year. Of course these amounts will go down as more and more mining power is added to the network.

They each mine at 100Th/s and consume 3,050W of power each.

Putting all into operation right now would mean mining 1.5 Million USD worth of bitcoin PER DAY.

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In short all I can say is if you have ever been thinking about mining bitcoin or Ethereum you better get your butt in gear and start doing it now as these mega corps and moves are going to demolish single person setups quickly!

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I didn't know single person setups were still in much use. Does it really only take 3 months to payback on the investment of a S19j Antminer?

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As of right now however you need to be aware that you have power costs, increase in mining difficulty that is recalculated which whenever that happens it's almost always more difficult so you'll be mining less and less with the same hashing power over time.

SEC vs Xrp trial is a clear statement regulations
are coming to put crypto in a good eye for everyone.
Definitely companies will buy others to align
themselves with the underlying aspect of owning
crypto start to finish.
Another trend to see more public companies involved
These machines are good for how many years?
I know they change them to keep up with mining difficulties.

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