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Bitcoin Shop Inc (OTCMKTS:BTCS) Looks To Expand Mining Operations

Bitcoin Shop Inc (OTCMKTS:BTCS) is looking forward to expand its mining operations in the near future. According to reports, BTCS announced that it successfully acquired an 83,000 square foot facility to expand its mining operation. The new facility is almost 1.4 times of the NFL football field. BTCS made its way to the print and digital media for its initiative to build up a universal digital currency ecosystem, which attracted mixed feedback all around the world.

Insights On The Matter:

Apart from expanding its mining operations, BTCS also decided to buy one hundred S35 miners with the total capacity of 550 TH/s hashing power. After the addition of these miners, the total capacity of BTCS increased to 161%. The company is expecting to receive all the new equipments to arrive at the site within a few weeks time. Once they are installed, the hashing power of BTCS will enhance to 891 TH/s, a figure never achieved in the past.

One of the major problems that BTCS has been facing for last many years is extra power consumption, which results in the increased operational cost always. After the installation of the new equipment, BTCS’ power consumption will decrease by at least 30%, a huge relief for the company. With the help of this new capacity, BTCS can easily use 40,000 TH/s of mining hardware without any hassle. The new equipments can handle as much as 10 megawatts of power, which is a sign of relief for the company.

In order to inform all the stakeholders about this facility, BTCS recently launched a website, which contained detailed demonstration of all the services. As per the reports, this website has a new multi-signature secure bitcoin storage solution, which is considered to be the next big thing in the digital currency ecosystem. Management of the company hopes that addition of this new facility will enhance the overall production capacity of the company.

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