BitMine Immersion Technologies, Inc. announces the signing of its first hosting client, in a transaction that involves a sale of equipment and a multiyear hosting agreement. The client has signed an agreement to have 215 ASIC miners hosted by BitMine, with a staged increase in machines come online over the coming weeks. The agreement will result in BitMine sharing in the mining proceeds generated by the customer machines, while providing best-in-class ongoing service to the client.

BitMine expects delivery of its first large batch of immersion cooling equipment in the next several weeks, and fully expects to fill this capacity with client machines. BitMine has the ability to fill up to 50 Megawatts of client ASIC miner capacity in 2022 in immersion cooled equipment, with opportunities to increase that capacity as circumstance warrant. BitMine is also exploring various other joint venture and financing opportunities.