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Peak Mining Signs $150M Deal for Microbt Bitcoin Miners, Eyes Large-Scale Liquid-Cooling Tech

source-logo  news.bitcoin.com 23 September 2023 07:50, UTC

According to Peak Mining, a subsidiary of Northern Data Group, the company has signed a contract with bitcoin mining rig manufacturer Microbt worth $150 million. This agreement will equip Peak Mining with 7 exahash per second (EH/s) of the latest next-generation BTC mining devices.

Microbt and Northern Data’s Peak Mining Strike $150M Deal, Focus on Liquid-Cooling Advancement

On Friday, Peak Mining, a firm under the Northern Data Group umbrella, announced its purchase of $150 million in Microbt Whatsminer machines. The acquisition includes the Whatsminer M53S+, M53S++, M50S+ and M50S++ models. The company noted the possibility of buying an additional $150 million in hardware down the road.

Through this purchase, Peak indicated it will be among the pioneers to introduce “liquid-cooling mining technology at this scale.” The first shipment of these liquid-cooled Microbt miners is expected in October 2023, with installation set for North Dakota.

“The new contract will significantly increase our self-mining capacity and prepares our existing portfolio for the upcoming halving,” Niek Beudeker, the managing director at Peak Mining commented. “We choose to deploy hardware in a higher performance output mode at purpose-built next-generation infrastructure,” Beudeker added.

Peak Mining’s announcement comes on the heels of Microbt’s revelation of a new miner, the M60 series, slated for an October release. The mining rig that Microbt intends to introduce boasts an efficiency rating of 1X joules per terahash (J/T). Even as cryptocurrency markets remain consolidated and lackluster, the mining sector continues its brisk pace, with the top three mining rig manufacturers launching machines with enhanced efficiency metrics.

What do you think about Peak’s $150 million deal with Microbt? Share your thoughts and opinions about this subject in the comments section below.