- The Phoenix Group's facility in North Dakota provides over 2.7 exahashes to its international hash price.
- Accomplished in lower than 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 an article by the group on international hash of the corporate. This reinforces the corporate's dedication to securing blockchain networks and assembly the rising demand for digital property.
Munaf Ali, CEO of Phoenix Group, described the undertaking as a testomony to the corporate's technical and operational experience. “The funding and opening of the Dakota web site is a vital step in our technique to extend our mining capability globally and in the USA,” Ali stated.
“Constructing and powering a 50 MW web site in lower than 5 months displays the velocity, precision and innovation that units Phoenix Group aside within the aggressive Bitcoin mining business.”
Strategic milestone for the Phoenix group
In line with the press launch, finding the manufacturing unit in North Dakota highlights the Phoenix Group's dedication to sustainable and environment friendly operations. The power makes use of superior applied sciences and optimized designs to maximise power effectivity whereas delivering excessive efficiency.
This enlargement aligns with Phoenix Group's technique to broaden its operations in key markets. Reza Nedjatian, CEO of Phoenix Group's international mining operations, highlighted the significance of the US market:
“The USA has at all times been a key hub for our mining operations, and the opening of the Dakota web site represents one other main step within the enlargement of Phoenix Group’s investments on this key market.
Historical past of the Phoenix group
This milestone follows the corporate's opening of a 25 MW mining facility in South Carolina final July. Based in 2017 and headquartered in Abu Dhabi, Phoenix Group operates greater than 10 mining amenities in the USA, Canada, the CIS and the United Arab Emirates.
Phoenix Group went public in October 2023 by means of an IPO that raised $370 million. It thus grew to become the primary personal crypto and blockchain firm listed on the Abu Dhabi Inventory Trade.
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