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$500 million and rising: Institutional investors place big bets on bitcoin mining

Quick Take

  • At least 10 institutions have placed additional bulk pre-orders for the most powerful bitcoin mining hardware since Q4 2020
  • Such investments are estimated to have cost institutions more than $500 million to date
  • These machines could in total add another 20 EH/s of computing power at full deployment by the end of 2021
North American institutions have already invested more than $500 million into top-of-the-line bitcoin miners over the past few months alone.

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