Hideo Nakamura Cathedra Bitcoin Inc. has recently revealed its collaboration with 360 Mining, marking a significant milestone in the form of off-grid Bitcoin mining in Texas. The partnership involves the deployment of mobile data centers and application-specific integrated circuit (ASIC) Bitcoin miners at 360 Mining’s off-grid location.
Under the agreement, Cathedra Bitcoin (CBIT) will pay $55.00 per megawatt hour for the consumed power, in addition to 10% of the gross Bitcoin mined at the site. This deal grants CBIT the rights to two megawatts of mining capacity, estimated to produce around 0.054 exahash per second (EH/s) or 54 petahash per second (PH/s) of capacity.
If deemed economically advantageous, Cathedra has the option to abstain from Bitcoin mining and instead sell the natural gas on the open market. Drew Armstrong, the chairman and president of Cathedra, expressed excitement about working with 360 Mining, a company with expertise in off-grid mining.
Due to the Bitcoin bear market in the previous year, Cathedra had to pause its Rover manufacturing efforts and focus on maximizing near-term operating cash flow. The company plans to initially deploy its own mobile Bitcoin mining data centers, known as “Rovers,” equipped with older models of mining machines. These Rovers, featuring the Whatsminer M31S and M32S, obtained through Cathedra’s partnership with Great American Mining, will be optimized using underclocking technology to enhance energy efficiency.
Upon the completion of subsequent deployments, Cathedra anticipates that the full 2.0 megawatts of Bitcoin mining capacity achieved through the partnership will yield at least 54 PH/s of incremental hash rate. The collaboration between Cathedra and 360 Mining aligns with the trend of various Bitcoin mining companies expanding their operations and acquiring ASIC machines for their fleets. Despite the challenges faced by Bitcoin miners during the bear market of 2022, 2023 has witnessed significant improvements for BTC mining participants.
Please share your thoughts and opinions on Cathedra’s partnership with 360 Mining in the comments section below.
Table Of Contents
FAQ about off-grid Bitcoin mining
What is Cathedra Bitcoin’s partnership with 360 Mining about?
Cathedra Bitcoin’s partnership with 360 Mining involves the deployment of mobile data centers and ASIC bitcoin miners at 360 Mining’s off-grid location in Texas. It aims to revolutionize energy-efficient Bitcoin mining operations.
How will the power consumption and Bitcoin mining revenue be handled in the partnership?
Cathedra Bitcoin will pay $55.00 per megawatt hour for the power consumed and receive 10% of the gross Bitcoin mined at the site. This arrangement allows for a fair distribution of costs and rewards between the parties involved.
What mining capacity does Cathedra Bitcoin gain through this partnership?
Cathedra Bitcoin will have the rights to two megawatts of mining capacity, which can produce an estimated 0.054 exahash per second (EH/s) or 54 petahash per second (PH/s). This significant mining capacity provides a solid foundation for their Bitcoin mining operations.
Will Cathedra Bitcoin have the option to sell natural gas instead of mining Bitcoin?
Yes, if it becomes economically advantageous, Cathedra Bitcoin can choose to abstain from Bitcoin mining and sell the natural gas on the open market. This flexibility allows them to adapt to market conditions and make strategic decisions based on profitability.
What kind of mining machines will Cathedra Bitcoin initially deploy?
Cathedra Bitcoin plans to deploy their own mobile Bitcoin mining data centers called “Rovers.” These Rovers will be equipped with older models of mining machines, specifically the Whatsminer M31S and M32S. The company aims to optimize these machines using underclocking technology to improve their energy efficiency.
Are there any expectations for future mining capacity and hash rate?
Upon subsequent deployments, Cathedra Bitcoin expects the full 2.0 megawatts of mining capacity from the partnership to yield at least 54 PH/s of incremental hash rate. This indicates a significant boost in their mining capabilities and further contributes to the growth of the Bitcoin network.
More about off-grid Bitcoin mining
- Cathedra Bitcoin Inc. Official Website
- 360 Mining Official Website
- Whatsminer M31S Product Information
- Whatsminer M32S Product Information
- Great American Mining Official Website
3 comments
Wow, Cathedra Bitcoin’s teaming up with 360 Mining for off-grid Bitcoin mining in Texas? That’s mind-blowing! Can’t wait to see those mobile data centers and ASIC miners in action. Energy efficiency is the name of the game!
Cathedra Bitcoin and 360 Mining joining forces for Texas Bitcoin mining? Awesome sauce! It’s all about optimizing those Rovers with underclocking tech for max efficiency. Let’s hash away those challenges and ride the wave of BTC improvements!
Kudos to Cathedra Bitcoin and 360 Mining for pioneering off-grid mining in Texas. It’s a game-changer, folks! With the bear market behind us, this partnership is set to bring in a whole new level of hash rate and success for BTC mining. Keep those ASICs humming!