Estonian IT company inks $26M crypto mining deal with Bitmain

Estonian IT company inks $26M crypto mining deal with Bitmain

Burfa intends to purchase new cryptocurrency mining equipment from Bitmain to boost its data-center capacity.

Estonian technology conglomerate Burfa is turning to Bitmain to supply key cryptocurrency mining infrastructure to its Narva-based data center, offering a glimpse into the arms race underway for high-performance computing resources.

The $26 million agreement will allow Burfa to double its data-center capacity and secure a steady supply of processing equipment over the coming months. The industrial sector is facing an acute shortage of specialized GPUs and SSDs as more of these resources get gobbled up by crypto-intensive firms that are ramping up Bitcoin (BTC) mining during the bull market.

Burfa will start receiving the new equipment as early as summer, the company announced Wednesday.

“There are clear limits to hardware production and this contract places us among a dozen or so major clients in the world who could secure such a large volume of additional resources,” said Ivan Turygin, the chairman of the board at Burfa.

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