Bitmain, one of the world’s largest Bitcoin miner producers, announced on the 8th of December that its long-time client of the Antminer brand, the US-based VBit Technologies bought more than 3,000 19 Series Antminers worth over $8 million.
Notably, the Antminer S19, as well as S19 Pro, happens to be the latest generation of ASIC mining hardware from Bitmain. As per the official release, VBit Technologies now aims to increase its current aggregate operating hash rate by more than 50%.
Bitmain will be delivering 117 S19 miners this month, followed by hundreds of S19 Series models that will be shipped and deployed every month up until August next year. VBit has been a long-time client of Bitmain maintaining a collaborative partnership with the Bitcoin mining giant for the past several years.
Following the latest arrangement, Irene Gao, Antminer Sales Director of NCSA Region, Bitmain stated, “We are glad to be of assistance in their effort to their expand mining operations and to grow their presence in North America. This deal, again, proves the strong performance and capabilities of the Antminer 19 Series and our commitment to providing customers around the world the most efficient and powerful miners.”
This news comes as Bitcoin was trading close to its newly established ATH and the collective cryptocurrency industry forayed a new bull market. According to the CEO of VBit Technologies, Danh Vo, the platform was able to secure large batches of Bitmain’s most efficient mining hardware with which it can continue to carry on its expansion plans in North America. The exec also intends to bring Bitcoin mining to the mainstream in the region.
Earlier, Bitmain reportedly paused its funding for some core developers maintaining Bitcoin-related software. This was claimed by Jonas Schnelli, who happens to be a major Bitcoin Core contributor and maintainer, who tweeted losing his sponsorship after more than three years along with another contributor.
Thanks to Bitcoin’s bullish price action, bitcoin mining profits have been substantial in the last couple of months. Among the next-generation miners released this year, the most profitable was found to be SHA256 mining rig, which can mine digital assets like BTC, BCH, and BSV, is the Bitmain Antminer S19 Pro. Released in May 2020, this rig clocks hashrate speeds of up to 110TH/s pulling a profit of around $10 per day for each unit.