BTCT Announces Full Deployment of T21 Miners from BITMAIN Within 3-6 Months

Rhea-AI Summary

BTC Digital (NASDAQ: BTCT) announced plans to deploy 2,000 BITMAIN T21 miners in North American facilities within 3-6 months. The T21 miners feature 190T computational performance and 3610W energy consumption per unit. This deployment will nearly triple BTCT's total hash rate capacity to 600P. The company is accelerating preparations including logistics, installation, and network optimization to meet the deployment timeline. The initiative aims to enhance mining efficiency, increase Bitcoin output, and strengthen BTCT's market position.

Positive

• Hash rate capacity will nearly triple to 600P
• Deployment of 2,000 high-performance T21 miners
• Expected increase in Bitcoin mining output

Negative

• 3-6 month deployment timeline indicates delayed revenue impact
• Significant power consumption at 3610W per unit

Insights

Crypto Mining Analyst

The planned deployment of 2,000 T21 miners represents a significant operational expansion for BTCT. The T21's specs of 190T hashrate and 3610W power consumption translate to an efficiency of about 19 J/TH, marking a substantial improvement over previous-generation miners. With these units, BTCT's total hashrate will increase to 600P, nearly tripling current capacity.

The timing of this deployment aligns strategically with the upcoming Bitcoin halving event, positioning BTCT to maintain competitiveness as network difficulty increases. However, the 3-6 month deployment window suggests potential logistical challenges and infrastructure preparation requirements. The success of this expansion will heavily depend on electricity costs at their North American facilities and Bitcoin price movements during the deployment period.

Financial Analyst

This equipment deployment represents a major capital investment and operational expansion for BTCT, with significant implications for the company's revenue potential and market position. Given current T21 market prices, this deployment likely represents an investment of approximately $10-12 million. The tripling of hashrate capacity should proportionally increase Bitcoin mining output, though actual returns will depend on network difficulty and Bitcoin prices.

For a company with a market cap of $60.6 million, this expansion represents a substantial commitment of capital resources. Investors should monitor deployment progress and operational efficiency metrics closely, as successful implementation could significantly impact BTCT's competitive position and financial performance.

SINGAPORE, Dec. 3, 2024 /PRNewswire/ -- BTC Digital Ltd. ("BTCT"or the "Company"))(NASDAQ: BTCT), a global leader in Bitcoin (BTC) mining, announced today that its strategic contract with BITMAIN, a renowned mining hardware manufacturer, is progressing smoothly. BTCT plans to deploy 2,000 units of BITMAIN's high-performance T21 miners to its North American mining facilities within the next 3–6 months.

The T21 miners, BITMAIN's latest flagship product, boast exceptional computational performance (190T per unit) and efficient energy utilization (3610W per unit). Upon completion of this deployment, BTCT's total hash rate capacity will reach 600P, nearly tripling its current capacity.

Streamlining Deployment
BTCT is accelerating preparations, including detailed logistics, equipment installation, and network optimization plans, to ensure the new miners are operational within the scheduled timeframe. Once operational, these high-performance miners will significantly enhance BTCT's mining efficiency and competitiveness, increase Bitcoin output, and solidify its position as a leader in the global cryptocurrency mining market.

Company Outlook
The CEO of BTCT stated: "The introduction and deployment of the T21 miners mark a significant milestone in the evolution of our mining operations. These devices will boost our mining capacity, optimize energy efficiency, and create greater potential value for our company. We look forward to continuing our collaboration with BITMAIN to advance the cryptocurrency industry."

BTCT remains committed to creating more opportunities and returns for its investors through technological innovation and strategic scaling. The company will continue exploring partnerships with industry leaders to maintain its long-term competitive edge in the cryptocurrency market.

About BTC Digital Ltd.
BTC Digital Ltd.is a blockchain technology company, with a long-term strategy to create value across the metaverse, blockchain and cryptocurrency mining industry. The Company is committed to developing blockchain related businesses in North America, including cryptocurrency mining, mining farm construction, mining pool and data center operation, and miner accessories business.

For more information, please visit: https://btct.investorroom.com/ 

Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements.  Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

 

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SOURCE BTC Digital Ltd.

FAQ

What is BTCT's planned hash rate capacity after T21 miner deployment?

BTCT's total hash rate capacity will reach 600P after deploying the T21 miners, nearly tripling its current capacity.

How many T21 miners is BTCT deploying and when?

BTCT is deploying 2,000 T21 miners from BITMAIN within 3-6 months in North American facilities.

What are the specifications of BITMAIN T21 miners that BTCT is deploying?

The T21 miners have a computational performance of 190T per unit and energy consumption of 3610W per unit.