Share this article
Bit Digital Partners With BitMine to Host 7K ASIC Miners
BitMine will store the machines in immersion coolers for greater efficiency.
By Brandy Betz
Updated May 11, 2023, 4:01 p.m. Published Apr 5, 2022, 1:44 p.m.
Crypto miners Bit Digital (BTBT) and BitMine Immersion Technologies have signed a letter of intent to establish a hosting relationship that will start with 7,000 current-generation ASIC miners. The move comes several months after New York-based Bit Digital fully exited the Chinese market after the mining ban, shifting its focus to North America.
- Bit Digital and BitMine Immersion plan to begin delivery of the ASIC miners in the coming weeks and months and to be at capacity by the end of August.
- Bitmain’s latest Antminer ASICs start at $7,500 so the agreement could be worth in the $50 million to $60 million range.
- The companies plan to primarily mine bitcoin in immersion-cooled containers, which keeps the machines cool and allows for higher output and better energy efficiency.
- Bit Digital and BitMine have agreed to a revenue split of the mined bitcoin under the multi-year deal.
- "We are happy to begin our relationship with BitMine Immersion Technologies, and have known the team for some time. As a company, we have been intrigued by mining using immersion technology, and we are happy we found an ideal hosting scenario allowing us to utilize the benefits offered by immersion cooling of our machines," said Bit Digital CEO Bryan Bullett in the press release.
Read more: Bit Digital Has Deployed 39% of Its Crypto Mining Rigs in North America
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase rolls out stock trading, prediction markets and more in bid to become the ‘Everything Exchange’
Coinbase is dramatically expanding the assets available to trade on its platform, including novel cryptocurrencies, perpetual futures, stocks and prediction markets, starting with Kalshi.
What to know:
- Coinbase is expanding offerings on its platform, introducing hundreds of top stocks based on market cap, trading volume, etc, with plans to add thousands of additional stocks and ETFs over the coming months.
- Coinbase users will also be able to trade on the outcomes of real-world events like elections, sports, collectibles, and economic indicators, starting with Kalshi and more to be integrated over time.
- A new AI-driven wealth management advisory service has been introduced, as well as Coinbase Business to help startups and small businesses incorporate crypto.
Top Stories
