- Phoenix Group's North Dakota facility provides greater than 2.7 exahash to the worldwide hash charge.
- The location was accomplished inside 5 months and demonstrates engineering effectivity and scalability.
- This facility strengthens the corporate's place as a frontrunner in blockchain innovation.
Based on a put up on X by Phoenix Group, Phoenix Group has opened a 50-megawatt blockchain mining facility in North Dakota. As soon as totally operational, the location will contribute greater than 2.7 ExaHash (EH) to the corporate's international hash charge. This strengthens the corporate's efforts to safe blockchain networks and meet the rising demand for digital property.
Phoenix Group CEO Munaf Ali stated the challenge is a testomony to the corporate's engineering and operational experience. “The funding and opening of the Dakota web site is a vital step in our technique to develop mining capability world wide and in america,” Ali stated.
“Constructing and powering a 50MW web site in lower than 5 months displays the pace, precision and innovation that units Phoenix Group aside within the extremely aggressive Bitcoin mining business.”
Phoenix Group Strategic Milestones
The plant's location in North Dakota underscores Phoenix Group's dedication to sustainable and environment friendly operations, in accordance with a press assertion. The ability makes use of superior know-how and optimized design to maximise power effectivity whereas delivering excessive efficiency.
This enlargement is in keeping with Phoenix Group's technique to develop its operations in key markets. Reza Nejatian, CEO of International Mining Operations at Phoenix Group, emphasised the significance of the US market:
“The US has all the time been a key location for our mining operations and the opening of the Dakota web site is one other main step for Phoenix Group to develop its investments on this key market.”
Phoenix Group's achievements
This milestone follows the corporate's opening of a 25MW mining facility in South Carolina final July. Based in 2017 and headquartered in Abu Dhabi, Phoenix Group operates greater than 10 mining amenities within the US, Canada, CIS and UAE.
Phoenix Group went public by way of an IPO in October 2023, elevating $370 million. This makes the corporate the primary non-public cryptocurrency and blockchain firm to be listed on the Abu Dhabi Inventory Change.
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