Australian digital and crypto company Mawson Infrastructure has picked up hundreds of new mining machines from Chinese manufacturer and Nasdaq-listed Canaan Creative.
- Mawson said it has received 250 Bitmain Antminer S19 Pro machines and is expecting a further 570 Avalon A1246 units from Canaan by month's end, according to a press release on Tuesday.
- The S19 Pro is one of the latest editions in mining chip maker Bitmain's lineup capable of producing 110 tera hashes per second with a power efficiency of around 29.5 joules per tera hash. Tera hashes are a measure of the computational power of the mining machine. Joules per tera hash measure energy consumption.
- At its flagship U.S. site in Georgia, which generates power derived mostly from renewable sources of energy, Mawson expects the addition of the new machines will help it break even when mining costs are hovering at around $4,000 or less per bitcoin.
- Gross margins are expected to be more than 80% based on the current bitcoin price and its network difficulty.
- Mawson expects to receive 588 more Avalon A1246 mining machines in August, according to the release.
- It's the latest in a string of deliveries for Mawson. The company picked up 11,760 A1246 miners from Canaan in April.
- "Our strong relationships with major ASIC (application-specific integrated circuit) mining hardware manufacturers give us confidence in reaching our corporate goal of 2,000 PH by end 2021, and 5,000 PH by end 2022," Mawson CEO James Manning, CEO said. In bitcoin mining, a "PH" refers to the ability to compute one quadrillion calculations per second.
- The mining company, which is based in Sydney, has operations in the U.S. and Australia.