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- Phoenix Group’s North Dakota facility provides over 2.7 exahashes to its world hash fee.
- Accomplished in below 5 months, the positioning showcases engineering effectivity and scalability.
- The power strengthens the corporate’s place as a frontrunner in blockchain innovation.
Phoenix Group has opened a 50-megawatt blockchain mining facility in North Dakota, in keeping with a publish on X by the Group. As soon as absolutely operational, the positioning will contribute greater than 2.7 exa-hashes (EH) to the corporate’s world hash fee. This reinforces the corporate’s dedication to securing blockchain networks and assembly the rising demand for digital belongings.
Munaf Ali, CEO of Phoenix Group, described the undertaking as a testomony to the corporate’s engineering and operational experience. “The funding and opening of the Dakota website is a crucial step in our technique to develop our mining capability globally and in the US,” Ali stated.
“Constructing and energizing a 50MW website in lower than 5 months displays the pace, precision, and innovation that set Phoenix Group aside within the aggressive Bitcoin mining trade.”
Strategic Milestone for Phoenix Group
In line with the press assertion, the siting of the plant in North Dakota highlights Phoenix Group’s dedication to sustainable and environment friendly operations. The power makes use of superior applied sciences and optimized designs to maximise vitality effectivity whereas delivering excessive efficiency.
This growth aligns with Phoenix Group’s technique of scaling operations in key markets. Reza Nedjatian, CEO of Phoenix Group’s International Mining Operations, highlighted the significance of the U.S. market:
“The US has all the time been a key hub for our mining operations, and the opening of the Dakota website is one other main step in Phoenix Group increasing its funding on this key market.”
Phoenix Group’s Observe Document
This milestone follows the corporate’s opening of a 25MW mining facility in South Carolina final July. Based in 2017 and headquartered in Abu Dhabi, Phoenix Group operates over 10 mining services throughout the U.S., Canada, CIS, and the UAE.
Phoenix Group went public in October 2023 by an IPO that raised $370 million. It thus turned the primary non-public crypto and blockchain firm listed on the Abu Dhabi Securities Change.
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