Swan Bitcoin Expands Into Bitcoin Mining

Swan Bitcoin, an investment platform based in California focused solely on the leading cryptocurrency, announced on Thursday that it has expanded into the realm of Bitcoin mining.

According to CEO Cory Klippsten, the company has been operating a mining venture since July 2023, but is now revealing it after being in stealth mode.

During this time, the company has mined over 750 Bitcoins. Klippsten stated that Swan runs seven mining farms, utilizing a total of 160 megawatts of electricity and producing 4.5 exahash of mining power.

By March, three more farms will be operational, which will bring the overall hashpower to 8 exahash, he added. These farms are located both in the United States and internationally, but Klippsten declined to disclose their specific locations or the sources of the electricity being used.

Ultimately, Swan’s goal is to have a balance of 50% of their mining operations in the United States and 50% abroad.