The Nasdaq-listed Bitcoin (BTC) mining firm Bit Digital has introduced it can situation $13.9 million in shares in change for mining {hardware}.

In keeping with a Nov. 11 announcement, Bit Digital has inked asset-purchase agreements with non-U.S. buyers to situation 4,344,711 shares valued at $3.20 every in change for Bitcoin miners boasting a mixed hash energy of 1,000 petahashes per second (PH/s), or 1 exahash (EH/s).

Bit Digital launched its BTC mining enterprise in February 2020, shortly amassing 1,250 PH/s in energy by October. The extra miners will almost double Bit Digital’s operational hash energy as soon as put in.

The corporate additionally expects to put in 2,000 beforehand bought MicroBT Whatsminer M21 ASIC miners by January 2021, including an additional 6.2 PH/s in operational hash charge.

With a projected hashing energy of greater than 2.3 exahashes per second (EH/s), Bit Digital’s determination to change $13.9 million in shares for miners will assist the corporate to rank alongside North America’s prime mining companies by hash charge.

Final month, Nevada-based Marathon Patent Group introduced it plans to command 2.56 EH/s by July 2021. The announcement has Marathon on-track to surpass the hash-power of Riot Blockchain, which is focusing on 2.3 EH/s by July of subsequent yr.

With the Bitcoin community at present producing 121 EH/s in complete, Bit Digital, Marathon, and Riot Blockchain goal to command greater than 1.9% of the present world hash charge every.

In February, the Peter Thiel-backed Layer1 Applied sciences additionally revealed it’s planning to safe 30% of the worldwide hash charge earlier than the tip of subsequent yr.