Bitcoin Miner Buys 5,000 ASICs as Network Hash Rate Climbs to New All-Time High

German Bitcoin (BTC) mining company Northern Bitcoin has signed a deal to buy almost 5,000 mining rigs from Bitmain and Canaan Creative, the company confirmed in a press release on July 1.

Northern, which is headquartered in Frankfurt but operates a site in Norway, aims to double its capacity, currently operating with 55 petahashes per second. 

The expansion is part of a long-term scaling plan with a focus on sustainable energy which began last week, officials explained, as the Bitcoin mining industry becomes ever more popular and competitive. 

“The acquisition of the sought-after hardware is a great success for our company,” Moritz F. Jäger, CTO of Northern, commented in the press release. 

“With the doubling of our mining equipment just a few days after the start of our global scaling, we are setting the pace with which we aim to take a leading position in the fast-growing blockchain industry in the coming years.”

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