- Fortress (FORT) and Great American Mining have initiated their joint venture to mine Bitcoin by converting natural gas into electricity
- The first container with 11.6 PH/s of mining capacity is hashing at GAM’s flared gas well pad in Oklahoma
- Fortress recently acquired 540 Micro BT M31SE ASIC miners, which will outfit GAM’s next three containers for an additional 40.4 PH/s
- The companies expect to have 162 PH/s of capacity upon the deployment of all 12 containers
- Fortress Technologies is focused on developing projects where access to growth capital is highly valued
- Fortress (FORT) is up by 1.32 per cent and is currently trading at $0.385 per share
Fortress (FORT) and Great American Mining have initiated their joint venture to mine Bitcoin by converting natural gas into electricity.
The first container with 11.6 PH/s of Bitcoin mining capacity using 180 MicroBT M32S ASIC miners is hashing at GAM’s flared gas well pad in Oklahoma.
Fortress recently acquired 540 Micro BT M31SE ASIC miners, which will outfit GAM’s next three containers to be deployed in July for an additional 40.4 PH/s.
This will bring the companies’ mining operating hashrate to 52 PH/s for the first four containers, producing approximately 10 Bitcoin per month at current difficulty levels.
The remaining eight containers (180 miners per container) are on the production line and can be deployed in the gas fields within approximately one month once acquired.
Upon the deployment of all 12 containers and ASICs, the companies expect to have 162 PH/s of capacity in addition to 20 PH/s from Fortress’ existing data center operations. This would total 182 PH/s and generate approximately 36 Bitcoin per month at current difficulty.
Aydin Kilic, CEO of Fortress, commented,
“We were very pleased with the level of in-house sophistication and design innovation at GAM’s production facility in Louisiana, which includes electrical distribution, IT, welding and software and hardware systems integration.”
Fortress Technologies is focused on developing projects where access to growth capital is highly valued.
Fortress (FORT) is up by 1.32 per cent and is currently trading at $0.385 per share as of 9:46 am ET.