Home News UAE-based Phoenix Technology Consultants ordered miners worth $650M

UAE-based Phoenix Technology Consultants ordered miners worth $650M

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Phoenix Technology Consultants from the United Arab Emirates has signed an order for the supply of equipment for mining cryptocurrencies in the amount of $ 650 million. CoinDesk reported this.

Thus, according to the publication, the company’s CEO Munaf Ali announced the purchase; during the World Digital Mining Summit (WDMS) in Dubai, organized by Bitmain. He called the deal one of the largest in the history of the industry. The supply of equipment, predictably, will begin in 2022.

Dubai-based Phoenix also intends to place another order for ASIC miners in the third quarter of 2022 worth more than $2 billion.

The company’s mining center

Munaf Ali said that the capacity of Phoenix’s mining center will be more than 600 MW. Furthermore, the company is planning to increase it to 1.4 GW within one and a half to two years.

Phoenix Technology Consultants is a subsidiary of Phoenix Store, Bitmain’s Middle East distributor. The largest manufacturer of mining equipment previously announced a presentation at WDMS of new container solutions for mining cryptocurrencies and products of the Antminer line.

Xiaotong Li, Bitmain’s Sales Director of the EMEA (Europe, the Middle East and Africa); and CIS (Commonwealth of Independent States) regions clarified that the company will present new products on November 10, 2021.

New Antminer S19 XP model

According to Wu Blockchain report, the new Antminer S19 XP model will be based on 5 nm chips. Moreover, it will provide a hashrate of 150 TH/s with an energy efficiency of 21.5 J/TH.

The start of deliveries is expected from July to September 2022.

In addition, the current flagship S19 Pro based on 7 nm chips has a computing power of 110 TH/s with an energy efficiency of 29.5 J/TH. The model consumes 3250 watts against the expected 3225 watts in the S19 XP.

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