White Rock Management Launches Bitcoin Mining Facility in the US

White Rock Management, a cryptocurrency mining company, announced on Tuesday the launch of its first US-based Bitcoin (BTC) mining facility in Texas’ Brazos Valley region.

According to the press release, natural gas by-products from active oil wells on-site will power the company’s initial operations. A partnership between White Rock and NGON, a green energy services and technology company, will capture the gas and divert it to produce Bitcoin.

“The Brazos Valley mine is the first of several grid independent facilities we are planning in Texas that will utilize by-product natural gas from active oil wells, turning waste into a reliable, non-grid energy source. The launch of our first US mining operation strengthens our position as an emerging player in the global digital asset mining industry,” Andy Long, the CEO of White Rock Management, commented.

White Rock’s data center sites in Sweden have a total capacity of 30 MW. A total hashrate of 1.6 EH/s is expected to be achieved once US operations begin.

“We are in expansion mode, actively exploring additional locations throughout the United States and elsewhere in North America, Europe and Latin America with favorable business and political environments. We are also seeking potential M&A opportunities within the bitcoin mining industry, as the current market environment is conducive to both M&A and strategic partnerships,” Serhiy Tron, the Founder of White Rock Management, commented.

In other Bitcoin mining-related news, HIVE Blockchain Technologies, a Nasdaq-listed company, recently released its production figures for May 2022. A jump from 2.15 Exahash to 2.18 Exahash occurred during the mentioned period.

In May 2022, HIVE’s Ethereum mining capacity reached 6.26 Terahash. In fact, 2,694 ETH was produced. Additionally, the mining firm produced 273.4 BTC last month. As of now, the company holds a total of 3,186 Bitcoins. Due to the recent expansion in its production capacity, HIVE witnessed a sharp jump in its financial numbers.