Abits Group Reports Q2 2024 Mining Output Of 24.09 Bitcoins, Down From 36.9 Bitcoins In Q1 Due To Halving; Achieves Higher Hash Rate Of 360 PH/s With Introduction Of Hydro Cooling; Expects To Reach 400 PH/s In Q3; Plans To Build 22MW Site On Newly Acquired 55-Acre Property In Wisconsin, Expanding To 35MW By Q1 2025
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Abits Group reported a Q2 2024 mining output of 24.09 Bitcoins, down from 36.9 Bitcoins in Q1 due to halving. The company achieved a higher hash rate of 360 PH/s with the introduction of hydro cooling and expects to reach 400 PH/s in Q3. Abits Group plans to build a 22MW site on a newly acquired 55-acre property in Wisconsin, expanding to 35MW by Q1 2025.
August 05, 2024 | 8:40 pm
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Abits Group's Q2 2024 mining output decreased to 24.09 Bitcoins from 36.9 in Q1 due to halving. Despite the drop, the company achieved a higher hash rate of 360 PH/s with hydro cooling and plans to reach 400 PH/s in Q3. Additionally, Abits Group is expanding its operations with a new 22MW site in Wisconsin, expected to grow to 35MW by Q1 2025.
The decrease in Bitcoin mining output due to halving is a short-term negative, but the higher hash rate and expansion plans indicate long-term growth potential. The introduction of hydro cooling and the new site in Wisconsin are positive developments that could enhance operational efficiency and capacity.
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