GREENVILLE, S.C.–(BUSINESS WIRE)–GEM Mining, an institutional-grade bitcoin mining firm headquartered in Greenville, South Carolina, at present introduced that it has deployed a fleet of 13,118 energetic miners producing 6.5 bitcoin per day. With this fleet enhance, GEM Mining’s hash price capability is 1.25 E/H. The vast majority of the energetic fleet is comprised of Bitmain S19 Professional miners with a median hash price of 100 Tera Hash per Second (TH/s).
“The profitable deployment of 13,000 energetic miners is a significant milestone within the development story of GEM Mining,” defined John Warren, CEO of GEM Mining. “We’ll proceed to hunt out alternatives to deploy industry-leading expertise with our premier internet hosting companions. That has been our mission for the reason that firm’s inception and can proceed to be our focus in 2022.”
Along with the 13,118 miners presently energetic, the corporate has confirmed absolutely funded buy orders, with internet hosting, for an additional 19,000 machines – all set for activation by the tip of 2022.
“This announcement underscores our dedication to our continued long-term development plan, which has GEM Mining well-positioned to capitalize on rising alternatives in cryptocurrency mining,” stated Zeb Portanova, Head of Strategic Initiatives at GEM Mining.
Thus far, GEM Mining has mined 560.9 bitcoins since February 2021, leading to profitability for the reason that first machines went on-line. In November alone, GEM Mining reported income of $7.8M and adjusted EBITDA exceeding $6.2M. The corporate’s mining operations are additionally 92% carbon impartial.
About GEM Mining
Headquartered in Greenville, SC, GEM Mining is a privately held, institutional-grade Bitcoin (BTC) mining firm targeted on maximizing fairness returns for its traders. The corporate is led by 5 founding companions, who’ve been constructing the foundations for the blockchain and cryptocurrency firm since 2017. With greater than 50 years of government management throughout varied nationwide and multi-national corporations, the companions have managed over $3 billion in investments and have executed a number of, worthwhile exits. For extra details about GEM Mining, see gemmining.com.