Announcements, Mining, Partnership

Wattum Management Purchases $35 million of Mining Equipment

May 4, 2021

Through a partnership agreement with Integrated Ventures, New York-based Bitcoin mining management and hosting company Wattum Management has secured over 4,800 Antminer S19J units from Bitmain Technologies Limited for $34,047,600.

Delivery installments on the 12-month deal are set to span from August 2021 through July 2022. Wattum and Integrated Ventures are partnered 50/50 in this purchase, with at least 2,000 mining units set to begin operating by December 2021, according to Integrated Ventures. Based on Bitcoin’s price averaging $60,000, early projections suggest a $21 million return on investment within the first 12 months after all units are connected.

As Integrated Ventures has been predominantly operating in mining colocation centers since its entry into the cryptocurrency mining industry in 2018, this partnership with Wattum is a significant step forward in the ascent of both companies to the forefront of the crypto mining market.

Wattum Management continues its emergence as a leading force in both hosting and mining management services, as well as equipment sales. The 12-month agreement has secured significant inventory for Wattum and contributes to the expansion goals of both parties to launch multiple mining farms and data centers.

Wattum will provide management services for Integrated Ventures at a mobile container site located near the INTV facility in Kennerdell, PA. Integrated Ventures has made a further purchasing commitment to obtain 150 units of WhatMiners, valued at over $1,000,000, which will be stored and hosted by Wattum at this mobile mining farm and are expected to begin shipping in May 2021. 

Steve Rubakh, CEO of the Pennsylvania-based tech holdings company, expressed enthusiasm about his company’s partnership with Wattum Management:

“[Integrated Ventures] is very pleased to secure this large scale purchase agreement, especially during a period of scarce supply of mining hardware. Going forward, INTV is committed to deploy any raised capital for purchases of the mining equipment. This purchase effectively doubles INTV’s hash rate and represents a major step in INTV’s strategic growth plan, resulting in significant increase of [INTV’S] projected revenue growth rate.”

When it comes to mining for cryptocurrencies, it’s common knowledge that a miner’s investment in equipment directly relates to their profitability. This is why we’re introducing the new generation of Bitmain ASICs, the Antminer S19, which is more reliable, efficient and profitable than previous editions. A vast improvement on its predecessor, the S17, the manufacturer has listened to user feedback and made the following changes to the latest iteration of the product:

Radiator System Redesign

One of the biggest user complaints with the S17 Antminer referred to the inefficient way the radiator operated when the device was overheating which often dumped heat directly onto the chips in some instances. The S19 solved this problem by replacing the several small radiators with a larger, more powerful singular radiator and physically attaching them to the device more securely with screws. The only con that can be seen with the new design is that they only attached the larger radiator to one side of the device as shown in the below image.

Thermal Interface Redesign

The second most encountered issue with the S17 was related to the thermal interface adhesive. At high temperatures, the TIM glue that was being used began to deteriorate and lose its original thermal transfer properties. Bitmain has fixed this completely in the S19 model, which now features a TIM paste on the chip side. This change single-handedly increased the thermal transfer between the chips and the fan making the average operating temperature of the S19 clock in at an optimal 77-78 degrees fahrenheit in an optimized room.

Power Supply Redesign

The third most common user complaint about the S17 was the failure of the power supply to the device; and while Bitmain repeatedly addressed this issue under warranty, the process was very time consuming. The new S19 edition device features a PSU APW12 v1.2 INPUT 200-240V 10A X2 C13 that will not start the fan if just a single power cable is connected, a great improvement over the last edition.

Firmware Dashboard Redesign

A welcome change to the latest Antminer miner was a completely overhauled firmware redesign for the S19 model; a common complaint being that previous interfaces looked very outdated and unprofessional. This modern and simplistic dashboard allows users to track the key metrics they need to closely monitor their hardware in order to maximize profit margins and efficiency.

Increase in Overall Profit Margins

Of course the biggest driving factor for the creation of the S19 model is obviously to put more crypto in the wallets of their users. The S19 outperformed the S17 at a two to one ratio, with the new specifications of 95TH +-3% 2500W 34J\TH.

In terms of profit, the S19 earns approximately 30% more than its predecessor at the current yield and cost of $0.05 per kw. Keep in mind, however, that the prices and returns, like the market, are constantly fluctuating.

The design changes and vast performance improvements to the Antminer S19 over the S17 show that Bitmain is at the forefront of Bitcoin mining technology. The new Antminer firmware and changes in device design and structure over the previous model will ensure a much more reliable and durable device over time. From doubling product performance to the 30% increase in average profitability, the next generation of crypto miners by Bitmain are made to continually improve the mining income of its users.