Report: SBI, GMO to Rent Mining Capacity at Facility in Texas

Possibly the world’s largest bitcoin mine has purportedly joined two top corporate clients, SBI Holdings and GMO. 

The Japanese corporate tycoons will be renting mining capacity in Rockdale, Texas, a facility recently being constructed by Whinstone Inc., as indicated by Bloomberg sources. The companies are to start mining “within coming months,” the report states, including that the companies involved would not give comments when requested.

As previously reported in November, when the office gets fully operational, it will probably be the largest bitcoin mine worldwide, beginning at 300 megawatts and extending to 1 gigawatt before the end of 2020.

That puts the competitor mine being developed by Bitmain—also in Rockdale and touted as the largest worldwide—in the shade. That is intended to begin at a capacity of 25-50 MW and potentially grow to 300 MW.

Internet tycoon GMO was additionally said to have been associated with setting up the Rockdale facility, according to a previous report. In November, Whinstone assessed the data center would cost $150 million to construct and fit out. The first 300 MW of power was anticipated to come online in the first quarter, with 1 GW intended to be accomplished late in the year.

Not long after Whinstone got things started on its Texas venture, the firm was acquired by Germany-based Northern Bitcoin, which already runs a bitcoin mine in Norway that facilitates sustainable power. Similarly, Texas may have been picked as the site for this significant endeavor in part because of its accessibility of inexpensive wind power, as indicated by Bloomberg.