Northern Bitcoin and GMO are building the first 1GW farm

A new cryptocurrency mining giant is under construction in Rockdale, Texas. The initiator of the project is the Whinstone US company, recently acquired by Northern Bitcoin and the Japanese GMO Internet corporation.

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1 The Bitcoin mining industry is booming

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Whinstone US is a developer of data centers that owns mining farms in Louisiana, the Netherlands and Sweden. The Rockdale, Texas project was launched on November 7, at the site of a former Alcoa plant.

One week after the start of the work, the German company Northern Bitcoin acquired the majority stake in Whinstone US. In turn, Northern Bitcoin owns a Bitcoin mining farm in Norway, which runs on electricity from renewable sources.

The new Rockdale farm will cost a total of $ 150 million and will be up and running in the first quarter of 2020. Initially, the capacity will be 300 megawatts, and will reach 1 gigawatt by the end of next year. .

The Bitcoin mining industry is booming

It is interesting to note that Bitmain uses another Alcoa plant for its own mining farm. The Bitmain location currently has a capacity of 25 MW and plans to expand to 50 MW.

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However, the Northern Bitcoin project with GMO Internet has the potential to overcome it once it is completed.
Northern Bitcoin representatives said two listed companies signed up as first customers and “will use a significant portion of Bitcoin’s mining capacity.” However, the company refused to nominate the respective companies.

In a joint statement announcing their merger, Aroosh Thillainathan, co-founder of Whinstone USA, said the agreement could “shape the future course of the global mining industry.” Mathis Schultz, CEO of Northern Bitcoin AG, said the merger will “catapult firms to the top of cryptocurrency mining locations.”