Bitcoin Mining Consulting Firm Sabre56 Raises $35M to Build 150MW of Hosting Sites
Summary
Secure your seat todaySabre56, a company that consults miners on the development and operations of facilities, has raised $35 million to build its own hosting sites, aiming to have 150 megawatts (MW) of energy capacity ready by the end of the year. Hosting is a service that data centers provide to crypto miners that want to run their mining rigs without having to build the infrastructure themselves.The first four sites will total 115 MW and be located in Wyoming and Texas, where construction has already begun, according to a press release. The capacity will be built in 7MW-15 MW of monthly increments, with the first batch coming online in mid-March, company CEO Phil Harvey said. The bankruptcies of major hosting firms like Compute North and Core Scientific (CORZ) heightened the supply issue.Sabre56 will offer competitive pricing between $0.068-$0.072 per kilowatt hour (kWh) of electricity consumed, depending on the duration of the contract and the type of machines, Harvey said. "Im not interested in taking over, some s***show that people are trying to sell because theyre going bankrupt and cant run their operations," said Harvey, responding to a question from CoinDesk about why his company has chosen not to purchase an existing development from a distressed miner.