Coinmint joins forces with mining hardware firm, Innosilicon, for its new 1340-acre facility. The 435-megawatt site in Massena, New York, maintains the largest capacity from a digital currency data centre in the world. In addition to the $50m of investment to date, the company will invest up to $700m in this site, creating an estimated 150 plus jobs over the next 18 months.
Coinmint says the partnership with Innosilicon, a semiconductor design firm specialising in cryptocurrency mining ASICs, is a strategic move which will enable them to corner the global digital currency processing market for years to come.
Innosilicon designs and manufactures specialized cryptography servers that are required for Proof-of-Work blockchains such as Bitcoin, Ethereum, ZCash, and other leading digital currencies. Its latest mining equipment, which is currently operating in Coinmint’s facilities, provides one terrahash of Bitcoin mining power per 85 watts, which it claims is 15 per cent more efficient than any competing product. It says its latest ZCash mining equipment is up to thirty times more efficient than GPUs.
Coinmint claims to be the industry leader in digital currency data centres. Its New York site is almost triple the size of the next largest facility and is the largest capacity digital currency data centre in the world. The company’s blockchain infrastructure services several prominent digital currencies including Bitcoin, Ether, Litecoin, Dash and ZCash.
“The performance of our latest ASICs are on-par with the infrastructure Coinmint is implementing, so the partnership is a natural fit,” said Innosilicon VP of Engineering, Roger Mao.
“The Coinmint team are titans in the digital currency data centre space. So, this partnership will bind the best miner with the best mining operation and aim to generate the highest return with the least amount of risk.”