Bit Digital to boost hash rate in North America with new partnership

Bit Digital has signed a strategic joint-mining agreement in North America with Digihost Technologies.

According to the press release, Digithost, for a two-year term, will provide the partner with facilities to store and operate cryptocurrency mining equipment with a capacity of 20 MW. The combined hash rate of the firms is expected to increase by about 400 PH/s as a result of the partnership.

Under the terms of the agreement, Digithost will provide power and management services for the miners necessary to maintain 95% uptime.

Delivery and installation of the miners are planned for the fourth quarter of 2021.

Bit Digital CEO Brian Bullitt noted that the partnership marks a continuation of the company’s expansion in North America.

In the company’s first-quarter 2021 report, the company said that of its 43,000 operating miners, 35,000 were in China. The remainder were already deployed at farms in the United States and Canada, where new batches of equipment are arriving.

In 2020, the company mined 1,510.2 BTC.

In the first quarter of 2021, the firm mined 1,013.4 BTC.