Powerbridge Technologies To Acquire 5,600 Crypto Mining Machines

The woody with Cryptodigital Holdings volition spot Powerbridge Technologies get 2,000 BTC and 3,600 Ethereum mining machines

Blockchain steadfast Powerbridge Technologies has announced that an statement has been reached betwixt it and Cryptodigital Holdings, for the acquisition of 5,600 cryptocurrency mining machines.

As per the agreement, the institution volition get 2,000 BTC mining machines and different 3,600 for mining Ethereum (ETH). The mining machines are expected to beryllium acceptable for transportation successful October, the China-based institution said successful the property release.

Of the BTC mining rigs, a bully fig volition beryllium of the latest Bitmain models of Antminer S19 Pro and Antminer S19s, portion the Ethereum bundle volition incorporate almighty rigs assembled utilizing Nvidia's RTX 3070 and RTX 3060 Ti. Together, Powerbridge expects to pump its computational power, with the hashrate reaching astir 200 petahashes per 2nd (PH/s) for the BTC rigs and 1,700 gigahashes per 2nd (GH/s) from their Ethereum mining rigs.

According to Stewart Lor, the Chief Financial Officer (CFO) of Powerbridge Technologies, the institution plans to put much successful the crypto mining sector. The steadfast seeks to adhd much mining machines to the 2,000 BTC rigs and 3,600 ETH mining rigs it expects to acquire.

The acquisition of the 5,600 machines follows Powerbridge Technologies' announcement connected 12 August regarding its debut into the Bitcoin and Ethereum mining space.

A week later, the Nasdaq-listed institution announced a collaborative partnership with Cryptodigital Holdings, intending to usage the latter's expertise to unafraid Bitcoin and Ethereum miners. The steadfast was besides to oversee Powerbridge's mining operations successful North America arsenic good arsenic Asia.

The Bitcoin mining abstraction is lone opening to stabilise aft a rocky fewer months pursuing a crackdown connected crypto mining companies successful China. The Bitcoin web hashrate, which had fallen to caller lows arsenic miners unopen down operations, has besides picked up importantly to presently hover astir 127 EH/s arsenic miners relocate to countries with cheaper electricity.