The funds have been used to buy mining equipment and develop a unique product that has no rivals on the market.
In essence, the infrastructure and mining company BitCluster offers as fast as 60-minute access to mining with ready-to-use new equipment, purchased earlier and installed at a data centre. To begin mining, a customer only needs to decide on the number of devices.
The BitCluster company’s co-founder Sergei Arestov comments:
“We see an increasing demand for industrial mining. The larger investors have set their sights on cryptocurrencies with the purpose of hedging risks. For this reason, the company made the decision to invest more in the line of business. It is not for nothing that bitcoin has been nicknamed ‘new gold’. We are confident that the ‘equipment + one-hour-fast-connection’ service will be in demand. Before, customers spent weeks waiting for a delivery from China, managing issues of security, logistical pace and ASIC miners’ compliance with stipulated features on their own. Now, all these risks are to be assumed by the operator. The equipment has already been delivered, tested and set up, and is fully prepared for operation. Each of the offered devices can be verified with its serial number as to the date of import into Russia and customs clearance.”
A total of 2,500 ASIC miners by Bitmain, Innosilicon and Whatsminer are, as of the moment, ready for installation and cryptocurrency emission. Of these, 800 are Bitmain ASIC miners, including S17 pro and T17; 1,200 devices are by Innosilicon, including T3-50t, T3-57t and T3-67t; and 1,200 are M20 and M21 miners by Whatsminer. The equipment supports the SHA-256 algorithm, its target currency being Bitcoin.
The total power of the cryptocurrency emission units, purchased by BitCluster, is 140,000 TH/s, total power consumption being 6,7 MW. The investment in the new integrated product has been about $ 7,500,000. The equipment is at the Russia’s biggest mining hotel in Bratsk, ready for operation.