Multiple major entities around the globe show an interest in Bitcoin mining. That in itself is pretty interesting to keep an eye on. When players like Atlas Cloud Enterprises decide to get involved, things can change very quickly. The company has acquired a total of 1,000 Bitcoin miners. All of these devices are based on ASIC technology. The machines are manufactured by Bitmain and come in the form of the Antminer S9. It is evident Atlas Cloud has big plans for cryptocurrency mining moving forward.
Atlas Cloud is one of the latest big players to get on board with Bitcoin mining. The company will set up this venture at the Grant County Data Center. This particular venue will be converted into a full-fledged Bitcoin mining operations center. Until this change is complete, the company is working on a private co-located hosting arrangement. This confirms the company wants to get started with Bitcoin mining as soon as possible. Purchasing 1,000 Antminer S9 machines from Bitmain will be sufficient to get the ball rolling in this regard.
Atlas Cloud Embraces Bitcoin Mining
As of right now, the 1,000 units have arrived at the co-hosting location. It is expected the first batch of hardware will begin mining Bitcoin on or around February 1st. It will take some time to set up all machines properly, but the process should be completed two weeks later. With this mining capacity, Atlas Cloud will add 13.5 petahash to the Bitcoin network. This is not the biggest number, but it will help decentralize Bitcoin mining as a whole. More companies getting on board can only be considered to be a positive and welcome change.
Atlas Cloud expects to mine around 1.52 Bitcoin per day. At the current value, that would equate to over $15,500. Moreover, it seems the company will focus on mining through Slush Pool. That is a big feather in the cap of Bitcoin’s oldest mining pool to date. Depending on how much returns the company gets, they will swap between BTC and BCH mining. It is evident mining cryptocurrencies is about so much more than just Bitcoin these days. Bitcoin Cash tends to become more profitable on a regular basis.
Once the data center is ready, the miners will be moved to the new location as soon as possible. With an electricity cost of $0.03/kWh, it is a far more favorable location. It is expected 80% of the 3 MW of available power will be utilized from day one. This would mean Atlas Cloud cna add another 500-700 units until the maximum capacity is reached. An additional 2.0 MW will be added in 2019. The company has long-term plans for cryptocurrency mining, which is a positive sign. Electric City, Washington appears to be an interesting hub for cryptocurrency mining operations.
