{"id":10153,"date":"2024-01-26T10:55:22","date_gmt":"2024-01-26T08:55:22","guid":{"rendered":"https:\/\/forklog.com\/en\/swan-bitcoin-unveils-mining-of-750-btc\/"},"modified":"2024-01-26T10:55:22","modified_gmt":"2024-01-26T08:55:22","slug":"swan-bitcoin-unveils-mining-of-750-btc","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/swan-bitcoin-unveils-mining-of-750-btc\/","title":{"rendered":"Swan Bitcoin Unveils Mining of 750 BTC"},"content":{"rendered":"<p>Swan Bitcoin, a financial services firm focused on Bitcoin, has announced that its mining venture, launched discreetly in the summer of 2023, has mined 750 BTC.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">?\u203c\ufe0f\u2692\ufe0f SWAN MINING IS HERE ?\u203c\ufe0f\u2692\ufe0f<\/p>\n<p>We&#8217;ve been working hard on a big opportunity that came our way last year, and today, we&#8217;re excited to bring our mining operation out of stealth mode.<\/p>\n<p>We&#8217;re mining around 4.5 EH \u2014 closing in on 1% of the network \u2014 with equipment in hand to\u2026<\/p>\n<p>\u2014 Swan Media (@Swan) <a href=\"https:\/\/twitter.com\/Swan\/status\/1750565936216649860?ref_src=twsrc%5Etfw\">January 25, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The firm announced the emergence of its new business from stealth mode and its reorganization into a division of Swan Institutional.<\/p>\n<p>Swan Mining&#8217;s current hash rate is 4.5 EH\/s, approximately 1% of the global network. The company plans to increase its capacity to about 8 EH\/s by March with the connection of already acquired equipment.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cSwan Mining has developed and formed at an incredible pace. As far as we know, this is the fastest initial deployment of hash rate of this scale in Bitcoin&#8217;s history,\u201d said Rafa Zieguri, CIO of Swan Bitcoin and head of the mining division.<\/p>\n<\/blockquote>\n<p>According to him, the stealth launch was chosen to avoid impacting ASIC miner prices.<\/p>\n<p>Swan Mining does not use credit funds for financing, and the enterprise is legally separate from the main business, Swan Bitcoin emphasized.<\/p>\n<p>According to the statement, the mining subsidiary is set to play a significant role in the development of Swan Institutional, which has prepared several \u201cmajor strategic partnerships\u201d based on the new business direction.<\/p>\n<p>Swan Bitcoin also reported that over the past year, the team size has doubled, and revenue has increased to $125 million. The company plans to expand its fundraising efforts in the coming months as part of a Series C round. The funds will be directed towards the development of financial services, mining, and acquisitions.<\/p>\n<p>Swan Bitcoin CEO Cory Klippsten stated that the company is \u201cactively working\u201d towards going public within the next 12 months.<\/p>\n<p>In April, experts from CoinShares <a href=\"https:\/\/u1f987.com\/en\/news\/coinshares-evaluates-bitcoin-miners-prospects-post-halving\">evaluated the prospects<\/a> for Bitcoin miners following the reduction of block rewards. How the industry prepared for this can be read in ForkLog&#8217;s <a href=\"https:\/\/u1f987.com\/en\/news\/the-mining-industry-in-2023-preparing-for-the-halving-and-its-implications\">New Year article<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Swan Bitcoin, a financial services firm focused on Bitcoin, has announced that its mining venture, launched discreetly in the summer of 2023, has mined 750 BTC. ?\u203c\ufe0f\u2692\ufe0f SWAN MINING IS HERE ?\u203c\ufe0f\u2692\ufe0f We&#8217;ve been working hard on a big opportunity that came our way last year, and today, we&#8217;re excited to bring our mining operation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137],"class_list":["post-10153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=10153"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10153\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/10152"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=10153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=10153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=10153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}