- One of the biggest landowners in Texas has partnered with a digital infrastructure supplier and bitcoin miner for a mining facility in West Texas.
- The mining enterprise will see up to 60 MW of bitcoin mining capability.
- JAI Energy is the biggest bitcoin mining farm within the state of Wyoming.
Texas Pacific Land Corporation (NYSE: TPL) – one of many largest landowners in Texas – Mawson Infrastructure Group Inc. (NYSE: MIGI), and JAI Energy have partnered to construct up to 60 megawatts (MW) of bitcoin mining capability on TPL’s floor in West Texas, in accordance to a joint press release.
“This project marks the beginning of TPL’s journey into bitcoin, and we are fortunate to collaborate with Mawson and JAI as two highly regarded companies in the bitcoin mining industry,” mentioned Tyler Glover, CEO of TPL, a digital infrastructure supplier. “We believe TPL’s extensive surface footprint in West Texas can serve as a premier destination for the bitcoin mining industry, providing site locations proximate to existing grid infrastructure and excellent solar and wind resource for future renewable power procurement.”
Mawson and JAI have 4 deliberate places, all of which will likely be situated in Texas and two of them will likely be on TPL surfaces. While building is anticipated to start inside the second quarter of 2022, operations are not anticipated to be practical till the fourth quarter of 2022.
“We are aligned to see this venture succeed and scale as we look to leverage our unique asset base, industry and customer relationships, and the region’s energy abundance,” Glover mentioned. “For TPL, our shareholders will benefit from a unique royalty stream while retaining an option to participate as an equity partner.”
The services will likely be owned and operated by Mawson and will assist up to two exahashes (2EH/s) of bitcoin mining capability. JAI and TPL will earn the royalty curiosity whereas sustaining the flexibility to purchase an fairness place.
“Texas is rapidly emerging as an attractive new Bitcoin mining destination in the United States, and we are eager to establish a foothold in the state,” mentioned founder and CEO of Mawson, James Manning.
