The data centre will be built on 185,000 square miles of land set aside by the Georgian National Agency of State Property to create a “special technology zone” with the goal of attracting international technology firms, the news source said.
BitFury, the best capitalised mining firm in bitcoin, today announced it has raised an additional $20m in funding.
The raise, its third in two years, brings the company’s total to $60m, double that of rival KnCMiner ($29m) and over half of the total investment in mining infrastructure to date ($116.5m).
In a statement, BitFury said the funds will go towards “accelerating growth” following its acquisition of a new 100MW data centre in the Republic of Georgia and the roll out of its 28nm ASIC.
The first thing you notice as you approach the warehouse is the noise. It begins as soon as you step out of the car, at which point it sounds like massive swarm of angry bees droning away somewhere off in the distance. It becomes louder and louder the closer you get to the building, and as you step through the doors it becomes a deafening and steady roar; a combination of tens of thousands of tiny ASIC chips hashing away, and dozens of large industrial fans serving to cool down the “workers”.
The place consumes a massive amount of electricity. The operators told me that the power bill of this specific operation is in excess of ¥400,000 per month (that’s about $60,000 USD).
‘GHash.IO’ is one of the largest Bitcoin mining pools, which entered the mining market in July 2013 and contributes to over 30% of the overall hashing power making it the #1 pool in the Bitcoin network.
