Bitmain to deploy 200,000 miners, looks to benefit from cheap hydropower

Chinese mining equipment giant Bitmain is planning to deploy 200,000 miners to mine for cryptocurrencies on its own, CoinDesk reports. Bitmain will then be able to reap the benefits of cheap hydroelectric power in Sichuan province. According to CoinDesk, the company is planning to deploy mostly new models, such as AntMiner S11 and S15. Considering the unit prices—AntMiner S11 costs $502 while S15 prices range between $722 and $1,035—the move calls for a huge investment.

Large capital outlay aside, it might still be the most profitable choice for Bitmain at the moment considering the crypto winter.