Cro Capita, a cryptocurrency mining company, announced late yesterday that it had produced 250 new Bitcoins in April. The company’s production announcement comes before the new 1,000 Bitmain Antminer S19s arrive and are operational.
The company said for April 2022, 250 newly mined Bitcoins (BTC) were produced by the Bitmain S17s being fully deployed for the entire month of April 2022. Cro Capita noted, “BTC inventory increased by 26% since April 2022 to 1003 BTC.”
Cro Capita states it is currently operating approximately 4,000 S17s with an aggregate hashing power capacity of 248 Petahash per second (“PH/s”) in their mining farm facility.
The recent purchase of the next-generation Bitmain S19s was for $2.4 million and is expected to increase mining efficiency and drive down power consumption. Bitcoin is not free and mining the currency uses an increasing amount of electrical power to solve a mathematical puzzle.
Once solved, a new puzzle is generated with ever-increasing complexity. The harder the problem, the more power miners use to solve it. Some environmental experts have said that the hungry energy process is wasteful.