Phoenix Group, a crypto firm based mostly in the UAE, is pushing laborious to get into the US market. In a current information launch, the firm mentioned that its latest 50MW Bitcoin mining facility in North Dakota was now absolutely operational.
News sources say that this new mining plant can enhance the firm’s present hash fee by as much as 2.7 exahashes. The new crypto mining heart has cutting-edge applied sciences and a greater structure to make it work higher and quicker.
The North Dakota mission is Phoenix Group’s second crypto-mining facility in the nation. The group’s first was a 25MW crypto mining facility in South Carolina. Phoenix Group’s second mining facility was completed in document time, reflecting the firm’s management in the trade, notably in designing and managing extremely environment friendly digital asset infrastructure.
Securing the blockchain, one hash at a time.
Phoenix Group proudly energizes its cutting-edge 50MW mining facility in North Dakota. Completed in below 5 months, this engineering marvel provides 2.7 exahashes to our capability. As Munaf Ali, CEO of Phoenix Group, states, “This is a… pic.twitter.com/5FGLtgIGsB— Phoenix Group (@phoenixgroupuae) January 6, 2025
Phoenix Group Adds A Canadian Facility
Currently registered on the Abu Dhabi Securities Exchange, Phoenix Group is amongst the main crypto miners worldwide. It boasts a presence in the US, UAE, and Canada and is constructing the area’s largest Web 3.0 ecosystem.
One of its newest initiatives was launching its 20-megawatt crypto mining facility in Canada. With the web site’s completion, it added 700PH and has the lowest electrical energy value at 0.039 USD inside the Phoenix Group’s fleet, with over 97% uptime.
The building of one other mining facility in North Dakota reinforces the firm’s dedication to crypto and blockchain expertise. According to Reza Nedjatian, the firm’s CEO for Global Mining Operations, their new Dakota mission is a serious step in its growth plans. He mentioned the United States is a key marketplace for their operations.
North Dakota Site Brings Competitive Edge
A serious turning level for the enterprise will probably be the building of its new North Dakota crypto mining facility. Launching the second US web site is a part of Phoenix Group’s plan to extend their international Bitcoin mining functionality and enhance their visibility, claims Munaf Ali, CEO of the firm.
In a really aggressive marketplace for crypto-mining, Ali mentioned that ending the job in document time reveals how correct, quick, and inventive they’re.
Phoenix Group Expansion
Since its first mining actions in the UAE in 2017, the Phoenix Group has been increasing its actions and different associated initiatives. After turning into the first Bitmain supplier in the space in 2019, the firm went public in 2023.
In August 2024, Phoenix Group and Tether labored collectively to make a stablecoin based mostly on the UAE dirham.
Featured picture from Getty Images, chart from TradingView
