- The Phoenix Group plant in North Dakota provides over 2.7 exahashes to the worldwide hash charge.
- The location was accomplished in lower than 5 months and demonstrates technical effectivity and scalability.
- The system strengthens the corporate's place as a frontrunner in blockchain innovation.
Phoenix Group has opened a 50-megawatt blockchain mining facility in North Dakota, based on the group's put up on X. As soon as absolutely operational, the location will contribute greater than 2.7 exa-hashes (EH) to the corporate's international hash charge. This reinforces the corporate's dedication to securing blockchain networks and assembly the rising demand for digital property.
Munaf Ali, CEO of Phoenix Group, described the venture as a testomony to the corporate's engineering and operational experience. “The funding and opening of the Dakota facility is a crucial step in our technique to develop our mining capability globally and in the US,” mentioned Ali.
“Constructing and revitalizing a 50MW plant in lower than 5 months displays the pace, precision and innovation that units Phoenix Group aside within the aggressive Bitcoin mining trade.”
A strategic milestone for the Phoenix Group
The North Dakota plant location underscores Phoenix Group's dedication to sustainable and environment friendly operations, based on a press launch. The system makes use of superior applied sciences and optimized designs to maximise vitality effectivity whereas offering excessive efficiency.
This growth is in step with Phoenix Group's technique to scale operations in key markets. Reza Nedjatian, CEO of Phoenix Group International Mining Operations, emphasised the significance of the US market:
“The US has all the time been a key hub for our mining operations, and the opening of the Dakota facility is one other vital step in Phoenix Group's growth on this key market.”
Phoenix Group's Monitor Document
This milestone follows the opening of a 25 MW mining facility in South Carolina final July. Based in 2017 and headquartered in Abu Dhabi, Phoenix Group operates greater than 10 mining services within the US, Canada, the CIS and the United Arab Emirates.
Phoenix Group went public in October 2023 by means of an IPO that raised $370 million. It thus turned the primary non-public crypto and blockchain firm listed on the Abu Dhabi Inventory Trade.
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