Editor's Note: This article comes fromCybtc Blockchain (ID: cybtc_com), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Cybtc Blockchain (ID: cybtc_com)

Cybtc Blockchain (ID: cybtc_com)

, reprinted by Odaily with authorization.

Foundry said on Wednesday that it will purchase 14,000 WhatsMiner M30S mining machines from Chinese manufacturer MicroBT. As part of the deal, U.S. mining farm operator Compute North will allocate 47 megawatts of electricity to power miners starting in the first quarter of 2021.

Foundry will keep a portion of the undisclosed rigs for its own use, and plans to sell the remaining rigs on Compute North's shelves to institutional investors.

According to the company, the goal is to simplify the upfront process for agencies so that they don't have to deal with issues such as negotiating high volume pre-orders from manufacturers, freight logistics and procurement facilities to host machines. “This partnership will further strengthen our relationship as we make bitcoin mining more accessible to North American institutional investors and businesses,” said Foundry CEO Mike Colyer.

Once the machines come online, investors can purchase the machines in operation from Compute North's shelves with full payment or through a loan issued by Foundry, and use the machines as collateral, the companies said.

Once fully deployed, these 14,000 units will be able to generate about 1.2 million terahertz per second (TH/s) of computing power, or about 0.8% of the current total volume of the Bitcoin network. At Bitcoin's current mining difficulty, the number of these hashes is likely to yield roughly 7.5 BTC every 24 hours, although factors such as luck and variance may change these numbers in practice.