BRISTOL, UK / ACCESSWIRE / December 19, 2021 / SPCMiner, the crypto mining rig manufacturer based in United Kingdom, has announced the company plans to mine cryptocurrencies in Kazakhstan. The company says that the firm's next-generation S21 mining rigs are already deployed in the world's largest landlocked country.
SPCMiner Joins the Bitcoin Mining Fray
SPCMiner (CRYPTO FACILITIES LTD, CRYPTO RESEARCH LTD) has revealed the firm is entering the fray of bitcoin mining with its own self-operated mining business. SPCMiner is one of the foremost producer of ASIC bitcoin mining hardware manufacturers in the world as it was founded by CRYPTO FACILITIES LTD.
In the company's earliest years it created FPGA miners dedicated to Bitcoin's SHA256 consensus algorithm. Fast forward to today and the company is one of the top application-specific integrated circuit (ASIC makers, up there with several competing manufacturers).
On Wednesday, the United Kingdom based company revealed it will be leveraging its S21 Miners to mine bitcoin in Kazakhstan. The move follows the firm opening up an ASIC mining rig service center in the transcontinental country.
The announcement on Wednesday explains that the move to start mining bitcoin after expanding the company's manufacturing process is "the next logical step." The entry into the field of mining will "optimize its revenues, as well as strengthen its inventory management and supply chain capabilities," the company states.
"We believe that our self-operated bitcoin mining business will help us improve our financial performance as well as expand our business scope and customer base," SPCMiner founder Curtis Wei stated during the announcement. "As we integrate more industry resources into our operations, we believe this business segment will enable us to revitalize our mining machine inventory, shield us from bitcoin volatility, and ensure our inventory sufficiency during market upturns."
A few of SPCMiner's manufacturing competitors have been in the mining space for years, specifically China-based mining rig companies. One China-based mining rig company has been operating a pool called Antpool since 2013. Today, Antpool is one of the largest pools dedicating hashrate to the BTC chain.
SPCMiner says it will also benefit from taking full advantage of the availability of its "in-stock mining machines to be actively deployed in its mining operations at low electricity rates, thus maximising its computing power at that time."
"On the flip side," SPCMiner concluded, "when market activity is elevated, the mining business will also benefit from putting the processing capacity of older machines in use. The net result will be a considerable improvement in inventory planning and supply chain optimization throughout the year and unaffected by the price of bitcoin." SPCMiner added.
Contact:
Company Name: SPCMiner (09172128, 09076636)
Email: [email protected]
SOURCE: SPCMiner