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On Friday, Chinese bitcoin mining platform maker Microbt announced plans to create an offshore facility that produces the company’s Whatsminer devices and parts for North America. The company revealed the news of the expansion when it announced a recent partnership with New York-based Foundry Digital LLC.
Microbt’s Whatsminer mining rigs have become popular in recent years, and the company has been able to get a large portion of the mining device sales. On September 25, the China-based company announced a partnership with Foundry and detailed that it has contracted a Southeast Asian company to create Whatsminer equipment for US customers.
News.Bitcoin.com reported on Foundry’s introduction in late August as the company is the Digital Currency Group’s commitment to the bitcoin mining ecosystem.
In a press release sent to news.Bitcoin.com, Microbt said the partnership with Foundry and the creation of the offshore manufacturing operation “will strengthen the foothold in North America.” Furthermore, the Southeast Asian manufacturer will allow American purchases without the taxes invoked by the cold war between China and the United States
When US-based individuals and companies buy miners from China, they have to pay a 25% fee.
“As part of the new partnership, Foundry would be the first to receive the new batches of M30S that Microbt plans to produce in Southeast Asia,” notes the announcement.
“We will continue to work closely with Foundry to provide the highest quality machine and aftermarket services to our customers in North America,” said Jiangbing Chen, Microbt COO during the announcement. “This would not only decentralize Bitcoin’s hashrate further, it would also secure the global network,” the Microbt executive added.
The news follows Bitmain’s recent partnership with Foundry announced on September 10. Bitmain is also looking at North American buyers, with a store opening in Malaysia and the recent partnership with Core Scientific revealed on September 17. The two companies plan to create a cooperative. North American mining platform repair center to “significantly reduce downtime”.
Mining, according to the third “Global Cryptocurrency Benchmarking Study” published by the University of Cambridge, is steadily reaching an “industrial scale”. Foundry’s partnership with Microbt and the offshore store hopes to power North America’s mining capabilities.
In recent months, US and Canadian mining businesses have purchased large quantities of mining rigs from Chinese producers. Companies like Marathon, Hut8 and Riot Blockchain have all announced the purchase of next-generation miners from both Bitmain and Microbt.
“With our collaboration and Microbt’s upgraded manufacturing capabilities, we look forward to continuing to facilitate the timely procurement and delivery of the latest generation bitcoin mining hardware for our clients, who are institutional miners (cryptocurrency ) in North America, “said Mike Colyer, Foundry CEO.
What do you think of Microbt revealing offshore operations and a partnership with Foundry? Let us know in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, Whatsminer,
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