Merkle Standard and BITMAIN Form Joint Venture to Develop up to 500 MW of Sustainable Data Center Infrastructure

IRVINE, Calif., Feb. 11, 2022 /PRNewswire/ -- Sustainable digital asset miner Merkle Standard and blockchain technology leader BITMAIN announced they have formed a joint venture to develop up to 500 MW of clean digital mining infrastructure. Upon full development, the data center could support deployment of over 150,000 mining machines. The joint venture will run exclusively BITMAIN mining equipment, utilizing BITMAIN's latest, cutting-edge mining technology and is expected to be one of the most efficient digital asset data centers globally.

"We are excited to form this strategic partnership with Merkle Standard. Our partner's ability to execute, operate, and focus on sustainability aligns perfectly with our global business strategy. The developed infrastructure will support exclusively BITMAIN equipment and will supplied with the latest technology we have to offer" - says Du Shisheng, CEO, BITMAIN Mining Division.

BITMAIN will contribute capital investment along with the team's extensive engineering and data center development resources to the project. Merkle Standard as the majority owner of the joint venture, will manage the operations and will oversee the data center development process. Through the joint venture, Merkle Standard plans to significantly expand its self-mining capacity in 2022.

"Our joint venture further solidifies strategic partnership with BITMAIN, and we are excited to leverage our combined resources to develop the industry's most efficient digital asset mining data centers. BITMAIN's carbon neutral strategy makes BITMAIN an ideal partner to grow our sustainable infrastructure initiative" – says Ruslan Zinurov, CEO & Co-Founder of Merkle Standard. 

The first phase of the data center development has begun at Merkle Standard's flagship 225 MW site in Eastern Washington, and is expected to be fully completed in Q2 2022. Merkle Standard plans to initially deploy a variety of S19J Pro, S19 XP, and S19+ Hydro mining equipment at the site. In addition to the Eastern Washington data center, the partners are finalizing plans to develop various expansion locations throughout the United States.

About BITMAIN

Founded in 2013, BITMAIN transforms computing by building industry-defining technology in cryptocurrency and blockchain. BITMAIN leads the industry in the production of integrated circuits for cryptocurrency mining, as well as mining hardware under the ANTMINER brand. BITMAIN technology supports a wide range of blockchain platforms and startups.

To learn more about BITMAIN, visit www.bitmain.com 

About Merkle Standard

Merkle Standard is a premier digital asset mining company with a distinct focus on developing North America's most efficient vertically integrated platform with a negative carbon footprint. The Company's flagship mining facility features 225 MW of developed power infrastructure.

To learn more about Merkle Standard, visit www.merklestandard.com 

SOURCE Merkle Standard