Integrated Ventures a acheté 4800 S19J à Bitmain
The Pennsylvania-based software developer announced it has acquired 4,800 S19J ASICs from China's largest mining hardware manufacturer Bitmain. These devices cost the company nearly $35 million.
The mining firm is now required to provide 400 Antminer S19J Integrated Ventures miners every month for a year. Watturn Management, the operator of mining solutions, also participated in the deal. Together with the latter, IV will be able to provide the maximum benefit from miners of 0.5 million TH/s or 100 terahashes for each installation from the first batch of 2022.
Looking at the fact that the total hashrate of BTC is 170 million TH / s, it begins to seem that Integrated Ventures has a lot of capacities concentrated. However, the hashrate of the main cryptocurrency has doubled in just this year and it is not yet known how much it will grow in the future. As a result, the same mining equipment can cost several times cheaper, in less than six months.
Perhaps this was the reason for a certain condition in the transaction. The company has agreed with Bitmain for the right to replace the S19J miners with "fresh" ones, if new ASICs are released in 2022. Apparently, Integrated Ventures did try to protect itself from a potential drop in device prices.
Now the software developer is hoping for $19 to $21 million in revenue per year, assuming that Bitcoin is trading in the region of $60,000.
The CEO of Integrated Ventures noted that the deal doubled the hash rate. They were also pleased with the successful deal with Bitmain, at a time when mining hardware is considered a scarce commodity. According to him, the company intends to further invest in the purchase of manners even more funds from the attracted capital.
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