ASIC manufacturing company SPCMiner expands to Bitcoin mining in Kazakhstan

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BRISTOL, UK / ACCESSWIRE / December 19, 2021 / SPCMiner, the UK-based maker of crypto mining rigs, has announced that the company plans to mine cryptocurrencies in Kazakhstan. The company says the company’s next-generation S21 mining rigs are already in service in the world’s largest landlocked country.

SPCMiner joins the bitcoin mining battle

SPCMiner (CRYPTO FACILITIES LTD, CRYPTO RESEARCH LTD) announced that it is entering the bitcoin mining business with its own self-operated mining business. SPCMiner is one of the world’s leading ASIC bitcoin mining hardware manufacturers since it was founded by CRYPTO FACILITIES LTD.

In the company’s early years, FPGA miners were developed dedicated to Bitcoin’s SHA256 consensus algorithm. Fast forward to today and the company is one of the leading application specific integrated circuits (ASIC manufacturer, up there with several competing manufacturers).

On Wednesday, the British company announced that it would use its S21 miners to mine Bitcoin in Kazakhstan. The move follows the opening of an ASIC mining rig service center in the transcontinental country.

Wednesday’s announcement states that the move to begin mining bitcoin after expanding the company’s manufacturing process is “the next logical step”. Entering the mining sector will “optimize its revenues and strengthen its inventory management and supply chain capabilities,” the company said.

“We believe that our self-operated bitcoin mining business will help us improve our financial performance and expand our business scope and customer base,” said Curtis Wei, founder of SPCMiner, in the announcement. “As we incorporate more industrial resources into our operations, we believe this division will allow us to revitalize our mining equipment inventory, protect against bitcoin volatility, and secure our inventory during the market boom.”

Some of SPCMiner’s manufacturing competitors have been in the mining sector for years, particularly China-based mining companies. A China-based mining company has been operating a pool called Antpool since 2013. Today, Antpool is one of the largest pools dedicated to hashrate on the BTC chain.

SPCMiner says that it will also benefit from fully utilizing the availability of its “mining machines in stock for active use in mining operations with low electricity tariffs and thus maximizing its computing power at this point in time”.

“On the other hand,” concluded SPCMiner, “as market activity increases, the mining business will also benefit from utilizing the processing capacity of older machines. The net result will be a significant improvement in inventory planning and supply chain optimization all year round, regardless of the Bitcoin price. ”SPCMiner added.

Contact:

Company Name: SPCMiner (09172128, 09076636)
E-mail: [email protected]

SOURCE: SPCMiner

View source version on accesswire.com:
https://www.accesswire.com/678509/ASIC-Manufacturing-Company-SPCMiner-Expands-to-Bitcoin-Mining-in-Kazachstan


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