U.A.E.-based Phoenix Know-how Consultants has signed a $650 million order for crypto mining rigs, one of many largest purchases on document, CEO Munaf Ali stated on the World Digital Mining Summit (WDMS), which began in Dubai.
- Deliveries of the “new technology” machines will begin in 2022. Phoenix may also place orders for over $2 billion price of crypto mining application-specific built-in circuits (ASICs) within the third quarter of 2022.
- Phoenix’s mining facility will eat over 600MW of electrical energy and can additional broaden to achieve 1.4GW inside the subsequent 18-24 months, Ali stated.
- Core Scientific co-founder and co-chairman Darin Feinstein congratulated the Phoenix Tech CEO on the acquisition, including that he’s glad to see extra decentralization of the Bitcoin community.
- Bitmain will announce its new miner in the course of the convention tomorrow, stated Xiaotong Li, Gross sales Director of EMEA & CIS Area stated at one other presentation at WDMS.
- Phoenix Tech is affiliated with Phoenix Retailer, Bitmain’s distributor within the Center East.