One of the largest Bitcoin mining firms in North America, Blockcap has included more than 12,000 additional ASICs to its inventory. All the ASICs added are Bitmain’s Antminer S19.
40,000 more Bitcoin miners are expected by the firm in the fourth quarter of this year. Their operational hashrate is projected to be roughly 3.5 exahashes per second or about 2% of BTC’s combined hashrate of 171.3 exahashes per second.
The firm is a creation by veterans of a blockchain hosting company called Core Scientific with the claim of Blockcap about combining the assets of five existing mining companies.
At launch, the firm had about 13,000 Antminer S19s, 500 upgraded S17s and now have added 10,000 S19s and another 8,400 ASICs from Canaan at the start of the month. Blockcap estimates its mining hardware’s valuation at $270 million in the secondary markets.
The firm mines about 6 Bitcoin($327,270) each day.
BTC mining firms are rapidly catching the eyes of traders further cemented by Fundstrat analyst Leeor Shimron noting that the four-largest publicly-listed mining firms outperformed BTC by 455% since past year on average.
“Until a Bitcoin ETF is approved, investors may view public mining companies as one of the only ways to get exposure to Bitcoin.”