Blockcap’s Bold Move in the Crypto Mining Arena
In a daring plunge into the vast ocean of cryptocurrency, Blockcap has announced the acquisition of 8,000 additional mining rigs, a move aimed at bolstering its position in the North American crypto mining sector. This acquisition is part of their ambitious strategy to boost their mining power and diversify their crypto portfolio.
Powering Up: The Numbers Behind the Machines
As of now, Blockcap operates over 12,000 mining rigs that generate an impressive output of more than 6.6 Bitcoin (BTC) daily — that’s approximately $380,000 floating in digital coins! By the end of 2022, they plan to have more than 50,000 rigs up and mining.
Diving into the Ether: Exploring New Cryptocurrencies
But wait, there’s more! Blockcap is also unleashing its mining rigs towards Ether (ETH), accounting for about 1.229 terahashes per second on the Ethereum network. To put it in perspective, this figure translates to roughly 0.21% of the entire Ethereum network’s hash power. Talk about expanding your horizons!
Hash Rate Dynamics: The Bigger Picture
Once fully operational, the collective might of Blockcap’s 50,000 Bitcoin miners could control about 2% of Bitcoin’s current combined hash rate. This is not just a number game; it’s a strategic move to be a key player in the rapidly-evolving cryptocurrency landscape.
Fueling the Future of Finance
Darin Feinstein, Blockcap’s executive chair and founder, emphasizes that their growth strategy prioritizes accessibility to peer-to-peer digital assets. This is all about improving lives and contributing to the essential infrastructure needed for the mass adoption of digital asset technologies. Who knew crypto could be so altruistic?
Texas: The New Crypto Frontier
Blockcap, alongside Riot Blockchain, is gearing up to set roots in Texas, hoping to capitalize on the state’s growing reputation as a haven for crypto miners. After raising over $75 million in funding from heavy hitters like Off The Chain Capital and Foundry Digital, Blockcap is well-positioned to make waves in the industry.
