Chinese mining equipment manufacturer Bitmain has announced a deal with the American firm TeraWulf for the supply of 30,000 ASIC miners of the latest generation Antminer S19j Pro.
The Bitmain statement did not disclose the amount of the transaction, however, if we take into account the price of each device at $ 3,000, the total cost of delivery will be close to $ 100 million. At the same time, in the secondary market, each Antminer S19j Pro is estimated at $ 7,000. January to June 2022.
TeraWulf does not disclose what hashrate its farms are currently generating. However, after a full delivery of 30,000 Antminer S19j Pro, they will be able to generate up to 3 Eh / s. After the bans on mining in China and the drop in the hash rate, this is about 3% of the total hash rate of the first cryptocurrency network.
“This agreement will be the next step in the rapid expansion of our operations, especially since our business model has already proven to be successful. Once deliveries are complete, we will significantly increase our overall hashrate, ”said Paul Prager, Chairman and CEO of TeraWulf.
Earlier, company officials revealed plans to enter the stock market through a reverse takeover of Nasdaq-listed tech firm IKONICS Corporation.
TeraWulf also said the company would be “socially and environmentally responsible.” It is planned that more than 90% of the electricity consumed by miners will be produced from renewable sources, and in the future the share of such energy will reach 100%.
At the end of last year, the American company Marathon purchased 70,000 Antminer S19 Pro miners. The deal is valued at $ 170 million.
Interestingly, Bitmain previously reported the suspension of miner sales due to a surplus of devices in the secondary market. However, it is possible that we are talking about the suspension of sales only in China.
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