Phoenix Group, a leading player in the cryptocurrency world and based in the UAE, is making waves as it establishes its foothold in the United States. The company recently launched its latest Bitcoin mining venture: a substantial 50MW facility in North Dakota, which is now fully operational.
Development of the North Dakota Facility
According to industry sources, this state-of-the-art mining facility is projected to boost Phoenix Group’s hash rate by about 2.7 exahashes. With cutting-edge technology and a meticulously optimized layout, the facility is designed to maximize efficiency in its operations.
Strategic Expansion in the U.S. Market
This site in North Dakota represents the company’s second venture into the U.S. market, following the opening of a 25MW facility in South Carolina. The quick launch of the North Dakota operation highlights Phoenix Group’s expertise in creating and managing robust digital asset infrastructures.
Future Prospects for Phoenix Group
Remarkably, the North Dakota facility was brought online in less than five months. The CEO of Phoenix Group emphasized that this achievement is a vital component of their strategic growth, recognizing the U.S. market as essential for their expansion. The rapid completion of this project showcases the company’s competitive advantage within the cryptocurrency mining industry.
Since it began mining activities in the UAE back in 2017, Phoenix Group has witnessed impressive growth. Now a publicly traded company, it aims to amplify its global Bitcoin mining capabilities and enhance its brand presence with the activation of this new facility. Through these efforts, Phoenix Group is positioning itself as a formidable name in the realm of digital currency mining.
Source: Bitcoinist
