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

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.

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