13,500 Mining Rigs bought by Merkel Standard

[Flexystar]

In the recent news, Merkel literally pre placed an order of 13,500 ASIC miners to set a new goal for their company.
The company’s CEO Ruslan is way determined for his work in the mining sector and wishes to become one of the best mining firm around the globe. Nonetheless they already have huge set up and in addition to that they plan to extend this farm to next generation ASICS to be fired up by July to December period.

In talks this is what Ruslan said:

“This purchase from our strategic partner, BITMAIN, reflects Merkle Standard’s commitment to becoming one of the most efficient and sustainably focused miners,” said Ruslan Zinurov, CEO of Merkle Standard.

With this partnership BITAMAIN is also getting its success on the financial side as the Merkel gave out Purchase Order for this mega project. This true flagship of giant technological partnership in true sense and I think this will also bring big up surge in the market during the spring by 2022 and first quarter would be crucial for future plans.

The happy comment from BITMAIN:

“Our growing strategic partnership with Merkle Standard reflects the continued success of the company and how it positions itself to become a market leader by leveraging BITMAIN’s latest Bitcoin mining technology. The acquisition of new and powerful machines will lead the company into greater heights and solidify its growth in this digital era”, says Irene Gao from BITMAIN.

Article goes here: Sustainable Bitcoin Miner, Merkle Standard Buys 13,500 BITMAIN Mining Rigs for Eastern Washington Flagship Site

[Poker Player]

LOL. It's Merkle, not Merkel. At first glance I thought it was the former Chancellor of Germany buying mining equipment and I was like WTF?

Going to the news, I think this should be generalized. Many anti-bitcoin voices are hiding behind the energy expense to ban mining favoring PoS. This could be an excuse, as governments know they can control PoS but not PoW. But the fact is that if more and more mining is increasingly sustainable, this argument is dismantled.

[Flexystar]

LOL. It's Merkle, not Merkel. At first glance I thought it was the former Chancellor of Germany buying mining equipment and I was like WTF?

Going to the news, I think this should be generalized. Many anti-bitcoin voices are hiding behind the energy expense to ban mining favoring PoS. This could be an excuse, as governments know they can control PoS but not PoW. But the fact is that if more and more mining is increasingly sustainable, this argument is dismantled.

Just noticed it.

It’s technological mistake, Auto-correction. Stupid algorithm. LOLZ

[pinggoki]

LOL. It's Merkle, not Merkel. At first glance I thought it was the former Chancellor of Germany buying mining equipment and I was like WTF?

Going to the news, I think this should be generalized. Many anti-bitcoin voices are hiding behind the energy expense to ban mining favoring PoS. This could be an excuse, as governments know they can control PoS but not PoW. But the fact is that if more and more mining is increasingly sustainable, this argument is dismantled.

As much as I want this argument dispelled, sustainable clean energy technology is so outdated and there hasn't been a lot of improvements in it for a long time and not to mention that the reliability of this type of energy is too low that the intermittence of it is a big problem, one moment the sun is shining and then the clouds block it causing lower energy being harvested so as much as we want to say that mining is using green energy, green energy is still unreliable.

[Hydrogen]

Article goes here: Sustainable Bitcoin Miner, Merkle Standard Buys 13,500 BITMAIN Mining Rigs for Eastern Washington Flagship Site

Brief breakdown of the washington state energy sector

• The Grand Coulee Dam on Washington's Columbia River is the largest power plant by generation capacity in the United States, and the seventh-largest hydropower plant in the world. It can provide 4.2 million households with electricity for one year.
• Washington generated the most electricity from hydropower of any state and accounted for 24% of the nation's annual utility-scale hydroelectricity generation in 2019.
• Although not a crude oil producing state, Washington has the fifth-largest crude oil refining capacity in the nation and can process almost 652,000 barrels of crude oil per day at the state's five refineries.
• In 2019, Washington had the fourth-lowest average electricity retail prices in the nation, and 56% of the state's households used electricity as their primary home heating fuel.
• In 2018, Washington consumed more natural gas than about two-fifths of the states, but used less per capita than all but four other states. The largest share of the state's natural gas comes from Canada, either directly or through the state of Idaho.

https://www.eia.gov/state/?sid=WA

Washington having the 4th average lowest electricity prices and greatest hydropower power production of any US state are two factors which could align to make this project successful.

I wonder what their crypto mining cost breakdown would look like in contrast to that of texas and other US states.

[The Sceptical Chymist]

Cool, thanks for linking to the article OP--I had no idea who Merkle Standard was until I read it.  Are they a public company by any chance?  I know they're basically a mining operation, but there are at least a couple of those that have gone public so far (Marathon and Riot are two that I know of) and I've been thinking about maybe investing in one of their stocks.

Is the announcement of a big purchase of equipment like this standard for mining companies?  It seems a bit odd that it would be reported, even if only on a strictly crypto-related news site.  You don't see big corporations put out press releases that they've bought millions of dollars worth of rapidly-depreciating assets, know what I mean?

Speaking of that, I assume bitcoin mining operations have to upgrade their miners at some kind of frequency.  Does anyone know how often they have to do that?  My knowledge of ASIC miners is limited, but I'm pretty sure that if you're a serious miner you have to keep up with the newest equipment else you risk being left behind in the hashrate race.  Someone correct me if I'm wrong, please.  And if that's true, what does a company like Merkle Standard do with their obsolete miners, sell them?  Just curious.