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George Ma
in
Crypto
April 11 09:33

A power plant in the U.S. sold a bitcoin hashrate on the over-the-counter market

Buyer purchased a 106-petahex hashrate.
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New York State's Greenidge Generation Hybrid Power Station has entered into its first regulated contract for the sale of computing power for bitcoin mining. The buyer, who purchased a 106-petahex hashrate, was an unnamed institutional investor.  

The purpose of such contracts, according to the broker BitOoda Digital, who brokered the deal, is to enable institutional investors to buy large blocks of hash rate in the OTC markets.
As noted in the press release, such regulated contracts allow investors to get bitcoins produced with Greenidge Generation equipment at a cheaper price.
Greenidge Generation has its own gas power plant with an option to use biomass as fuel. Mining equipment uses 106 MW of power generated by the power plant on site without passing through a meter. This method results in lower and more predictable energy costs.
According to Greenidge Generation, with the upcoming halving of bitcoin such a low cost offer could generate some interest among the miners, who are afraid of losing profitability.
Currently, about 7,000 Atlas Holding mining units operate in an area of 650,000 square feet, producing about 5.5 BTC daily.
Earlier this week, as a result of another recalculation, the complexity of bitcoin mining increased by almost 5.8% - from 13.9 to 14.7 trillion hashes.