Big news from the crypto mining industry: the Germany-based Northern Bitcoin has agreed to a merger with Whinstone US, Inc.
Whinstone US is already a leading player in creating crypto mining centers with a number of high-profile projects attributed to its name. After the merger, the two companies are poised to overtake many leading Bitcoin(BTC)trade mining enterprises in the world.
The CEO of Northern Bitcoin AG, Mathis Schultz, said:
“With this merger, we are catapulting ourselves faster than originally planned to the top of the world in Bitcoin mining. Whinstone’s team has done a great job over the past few years and is proving its leadership in the blockchain industry by building the world’s largest mining facility”.
He further emphasized that with the merger, the two companies will assume a dominant position in the fast-evolving world of Bitcoin mining.
Northern Bitcoin, which was founded in the city of Frankfurt, runs its data center farms on multiple sites which specialize in Bitcoin mining. With a special focus on providing developments related to Bitcoin and blockchain technology with a sustainable infrastructure that uses mostly renewable energy sources, Northern Bitcoin is the rising star in the cryptocurrency world.
On the other hand, its former rival Whinstone US has maintained a striking reputation as one of the largest producers of data centers around the world. With Northern Bitcoin’s expertise on crypto mining and Whinstone US’s massive industrial setup that creates customized data centers at record-breaking pace, the merger is likely to disrupt many leading mining players in the blockchain industry.
Aroosh Thillainathan, co-founder and managing director of Whinstone U.S. believes that the joint venture will guide the future course of global cryptocurrency mining industry.
Huge Crypto Mining Facility in Texas
It is worth mentioning that Whinstone is working on what will turn out to be the largest crypto mining farm in the world. With a capacity of 1GW and an land spread of almost 100 acres, the new facility in Texas is already attracting potential customers who will use the massive powerhouse. To this date, two major stock-listed corporations have signed up for a lease of a significant portion of the facility for crypto mining.
It is expected that the new mega facility will have its first phase completed in the first quarter of 2020. After that, the firm will be able to generate a power of 300MW capacity. By the end of the same year, the total capacity of the facility is expected to touch 1GW.
This new merger faces fierce competition especially from Chinese crypto mining companies such as Bitmain and Canaan Creative, both of which have opted for an initial public offering in the US.
