Phoenix Group, a leading multi-billion-dollar tech conglomerate listed on the Abu Dhabi Securities Exchange (ADX), has unveiled its new 25-megawatt mining facility in Willamette, South Carolina, US. 

 

This significant expansion introduces an additional 1 exa hash to the company’s mining capacity, enhancing its global cryptocurrency mining capabilities to 18 exa hash.

 

“While the addition of the Willamette site is part of our strategy to be one of the major global players in mining Bitcoin it also signals our commitment to growth and being able to invest in innovative web 3 initiatives around the globe. The Willamette site expansion also allows us to deploy upgrades to our proprietary mining technology stack and optimise our miner allocation for greater efficiency,” said Seyed Mohammad Alizadehfard (Bijan), Co-Founder and Group CEO of Phoenix Group. 

 

Preparing for future demands

“This strategic development is crucial as we prepare for future demands in the blockchain space, ensuring that Phoenix Group remains agile and well-positioned for technological advancements and market growth.”

 

Contributing to a robust total of several gigawatts of operational and developmental capacity, the Williamette site represents a significant enhancement in Phoenix Group’s infrastructure. It is part of a long-term strategy to complete and expand the Group’s mining facilities, with the goal of delivering increased hash rate productivity at a reduced incremental cost.

 

Bijan continued: “The new mining site in Willamette symbolises our commitment to innovation and efficiency in the crypto mining industry. By controlling all aspects of our infrastructure and having access to substantial power resources, we can swiftly adapt to changes in the computing landscape, exploring opportunities in both blockchain and alternative high-value computing forms.”

Phoenix Group’s Willamette mining site is strategically located to leverage local energy resources, enhancing the operational efficiency and sustainability of the facility. The Group’s approach allows for a flexible adaptation of infrastructure to host alternative forms of compute, reducing the cost and time associated with new constructions or modifications.

 

With the launch of the Willamette site, Phoenix Group has expanded its operations to ten mining facilities across the US, Canada, CIS, and the UAE, each dedicated to one of four core verticals: Mining, Hosting, Trading and Investments.--TradeArabia News Service