Newly Minted Bitcoin Miner Gem Mining Reaches Hashrate of 1.25 EH/s

Time：2022-01-09 Source： 1059 views Trending Copy share

Gem Mining, a bitcoin mining company started recently by former U.S. Marine and 2018 candidate for South Carolina governor John Warren, reached hashrate capacity of 1.25 exahashes per second (EH/s) with 13,118 mining machines.

The company is currently producing 6.5 bitcoins a day and has fully funded purchase orders for another 19,000 machines, expected to be online by the end of 2022.
“The successful deployment of 13,000 active miners is a major milestone in the growth story of Gem Mining,” Warren, who is also CEO, said in a statement on Wednesday.
Gem’s mining power now accounts for about 1% of the Bitcoin network’s hashrate of about 161 EH/s as of Dec. 28, according to data analytics firm Glassnode.
The Greenville, South Carolina-based miner started mining in February of this year and formally launched earlier this month, after raising over $200 million in institutional capital. It had revenue of $7.8 million in November.

By Aoyon Ashraf

Disclaimer : The above empty space does not represent the position of this platform. If the content of the article is not logical or has irregularities, please submit feedback and we will delete or correct it, thank you!