Mawson Infrastructure Ups Count of Bitcoin Mining Machines in US Operation
22 Jul, 2021•2 min read•Mining
Australian digital and crypto company Mawson Infrastructure has picked up hundreds of new mining machines from Chinese manufacturer and Nasdaq-listed Canaan Creative.
Mawson said it has received 250 Bitmain Antminer S19 Pro machines and is expecting a further 570 Avalon A1246 units from Canaan by month's end, per a press release on Tuesday. The S19 Pro is one of the latest editions in mining chip-maker Bitmain's lineup capable of producing 110TH/s with a power efficiency of around 29.5 J/TH. At its flagship U.S. site in Georgia, which generates power derived mostly from renewables, Mawson expects the addition of the new machines will help it break even when mining costs are hovering around $4,000 or less per bitcoin. Gross margins are expected to be more than 80% based on the current bitcoin price and its network difficulty. In August, Mawson is expecting a further 588 Avalon A1246 miners, according to the release. It's the latest in a string of deliveries for Mawson, having picked up 11,760 A1246 miners from Canaan in April. "Our strong relationships with major ASIC mining hardware manufacturers give us confidence in reaching our corporate goal of 2,000 PH by end 2021, and 5,000 PH by end 2022," said James Manning, CEO of Mawson. While headquartered in Sydney, the mining company has operations across both the U.S. and Australia.