The Nasdaq-listed Bitcoin (BTC) mining company Fleck Digital has announced it will issue $xiii.9 million in shares in exchange for mining hardware.

According to a Nov. 11 announcement, Bit Digital has inked asset-purchase agreements with non-U.South. investors to issue 4,344,711 shares valued at $3.20 each in exchange for Bitcoin miners boasting a combined hash power of 1,000 petahashes per 2nd, or 1 exahash per second.

Bit Digital launched its BTC mining business in February 2020, rapidly amassing 1,250 PH/southward in power by October. The additional miners volition nearly double Bit Digital's operational hashing power once installed.

The company also expects to install 2,000 previously purchased MicroBT Whatsminer M21 ASIC miners by January 2021, adding a further 6.2 PH/due south in operational hash rate.

With a projected hashing power of more 2.3 exahashes per second, Bit Digital's decision to exchange $xiii.9 million in shares for miners will help the visitor rank aslope N America's top mining firms past hash rate.

Terminal calendar month, Nevada-based Marathon Patent Grouping announced it plans to command 2.56 EH/s by July 2021. The announcement has Marathon on-rail to surpass the hashing power of Riot Blockchain, which is targeting ii.3 EH/s by July of next year.

With the Bitcoin network currently producing 121 EH/s in total, Scrap Digital, Marathon, and Anarchism Blockchain aim to command more than than 1.nine% of the current global hash charge per unit each.

In Feb, the Peter Thiel-backed Layer1 Technologies likewise revealed information technology is planning to secure 30% of the global hash rate before the end of next yr.