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- 1 The range of investment will include a variety of Bitcoin miners.
- 2 All in all, a total of 21 Million BTC can be mined given its limited supply.
Another crypto mining company is annexing its miners’ fleet for Bitcoin (BTC) mining. According to their official press release, GlobaleCrypto will acquire 70,000 machines to strengthen its operation ahead of halving next year. The investment will provide them with a variety of mining rigs having distinct efficiency in terms of returns.
Solidifying The Company’s Presence
The range of investments will include Bitcoin miners like Bitcoin Antminer S19 PRO Hyd, Bitcoin Avalon-1366, Bitcoin Whatsminer M50S 130T, and more. Every machine comes with different potential, delivering returns on their investment, ranging from a daily earnings of $7.21 to $12,060. These packages, according to the company, “are designed to cater to a wide range of users, from beginners to experienced miners.”
“GlobaleCrypto has strengthened its position in the cryptocurrency mining industry with the strategic acquisition of nearly 70,000 Bitcoin mining rigs,” reads the announcement. “This expansion not only solidifies the company’s market presence but also introduces an array of investment plans tailored to different user needs and levels of expertise.”
Several institutional crypto miners are preparing for the halving by adding new machines or updating the existing ones. Recently Cipher Mining ordered 37,396 units of Bitmain Antminer T21 miners which the company will receive in the first half of 2025.
Riot Platforms, the biggest crypto miner in Texas, updated their existing purchase agreement to acquire mining rigs from MicroBT earlier this December. With this, they plan to beef up their capacity to 100 EH/s. They are reportedly bulking up their presence in Texas with an alleged development of a 1 GW facility in Navarro County.
Although the next halving will be completed during April 2024, BTC prices are unlikely to see an immediate rise following the event. A pattern can be observed in every halving occurred to this date where Bitcoin’s value has risen, however, late in the year.
Crypto miners receive a reward for adding a BTC block to the blockchain for which the network rewards them with a certain number of BTC. Bitcoin rewards are cut to half following halving. Initially, a miner could gain 50 BTC for adding one block. What’s more, they did not require massive fleets of computers to mine it, one system would do just fine.
This has to do with the mining difficulty of the cryptocurrency which is inversely proportional to the rewards. With every mining, rewards will fall and difficulty will increase. Currently, a crypto miner can receive 6.25 BTC as a reward for mining. It will be slashed to half, i.e. 3.125 BTC, after April 2024.
All in all, a total of 21 Million BTC can be mined given its limited supply, of which 19.5 Million has already been mined and circulating in the market. It is believed that all of them will come into circulation by the year 2140. Following this, crypto miners will rely on transaction fees instead of mining.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
