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Sabre56, A Bitcoin Mining Consultancy, Has Raised $35 Million To Create A 150MW Colocation Facility

source-logo  news.coincu.com 23 February 2023 12:14, UTC
Saber56, a company that specializes in Bitcoin mining consultancy, said on February 23 that it has successfully secured $35 million to construct its own hosting site, with the intention of having 150 megawatts (MW) of energy capacity available by the end of this year.

Sabre56, a company that specializes in bitcoin mining, has revealed that it has successfully raised the investment of $35 million, which comes primarily from private sources. Construction has already started in Wyoming and Texas on the first four sites owned by the business, which have a combined capacity of 115 megawatts (MW). Phil Harvey, the chief executive officer of the company, stated that the capacity will be installed in increments ranging from 7MW to 15MW every month, with the first batch being brought online in the middle of March.

Based on the news release, Saber56 already has a “waiting list” of interested clients. Harvey said unequivocally that the majority of its members were businesses and individuals who were previously acquainted with the organization and that their contracts ranged from 10 MW to 50 MW. In addition to the fact that the firm anticipates having 150 MW of capacity online by the end of 2023, the business intends to continue adding 150 MW of capacity yearly over the course of the next four years.

According to Harvey, Sabre56 will provide competitive pricing that ranges between $0.068 to $0.0.072 per kilowatt hour (kWh) of power utilized. The exact amount would vary based on the length of the contract and the kinds of equipment. As a point of reference, in October, Core Scientific raised their hosting charges to just under 10 cents due to the rising cost of natural gas, which caused an increase in the company’s overall energy expenses.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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