TL;DR Breakdown
• Crypto-mining company in China will give 100 machines to mine Bitcoin.
• The Bitmain and Merkle partnership promise to renew the operations of the U.S. company.
The technology company Bitmain has just partnered with the U.S. mining company Merkle Standard. According to reports, this partnership will allow the Chinese company to increase its capital and decentralized operations rank.
Bitmain will also help Merkle Standard improve its infrastructure in the capital city of Washington so its crypto-mining profits will rise. This is a mutual aid that will benefit both crypto-mining companies.
Crypto-mining companies join forces
For the cryptocurrency industry, Bitmain sounds recognizable, considering that it has been a company specializing in crypto-mining for a while now. The firm was also introducing the machine to extract Bitcoin named ASIC S9 and version S19.
Merkle Standard, meanwhile, is a little-known company that recently centered its operations in Washington, D.C. But with the work, it is a crypto-mining firm with potential. Recently the company has associated with a Chinese company to install new machines to extract Bitcoin.
This partnership between Bitmain and Merkle Standard will aim to increase the work of the American company by attributing over 100 ASIC S9 machines to its farm. Merkle Standard CEO Ruslan Zinurov said that they could become one of the crypto-mining companies representing the United States with this partnership.
The strategic direction of the American company, Josh Zappala, believes that it is the right time to expand Merkle’s operations. According to Zappala, this partnership will open new employment opportunities for over 30 people. However, Merkle Standard faces a big challenge: to control the power source after installing the machines.
Merkle Standard agents discuss Bitmain patnership
Although the Bitmain CEO has remained silent about the new partnership with Merkle Standard, this does not mean that the beneficiary company, which in this case would be Merkle, mentioned the agreement. Josh Zappala claims this link will increase the firm’s ESG accreditation.
The miners’ committee at Merkle indicated that over 58 percent of permanent energy was cut in the first three months of 2021. The crypto farms in Norway use the residual energy for forest drying.
So far, Merkle Standard is only moving into the first stage of expanding its crypto-mining farm in Washington. Plans are to expand power consumption from about 225 MW to 500 MW in the list of crypto-mining machines that Bitmain will give. There could be the S19J Pro, S19+, and S19 XP models. There are no details on how much Bitcoin the company will mine quarterly or annually.
If this partnership between the two companies is a success, Merkle Standard’s operations will likely move forward in a short time.
