Bitcoin miner MerkleStandard has increased its hashrate by more than 900% in the last eight months, despite the crypto bear market. Reports Aoyon_A
, increased its total computing power or hashrate to 3.1 exahash from about 0.3 EH/s over the last eight months.
The privately held miner has brought an additional 40 megawatts of mining capacity in its South Carolina facility, bringing its total mining capacity to 140MW, according to a statement on Monday. The site will be mining bitcoin using Bitmain’s latest mining rigs, the S19J Pro and S19 XP. The crypto winter has clearly been rough for miners, who have seen profit margins shrink as bitcoin prices plunged more than 50% this year, while power prices soared and capital dried up. However, some miners, such as Merkle, have continued to build up their facilities during the bear market to solidify their position when the market eventually turns.
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