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Bitcoin financial services firm Swan Bitcoin unveils 750 BTC mining operation

Bitcoin-focused financial services company Swan Bitcoin has revealed that its stealth mining operation launched in the summer of 2023 has mined 750 BTC.

The firm announced that it is bringing the new business out of stealth mode and organizing it as a division under the Swan Institutional umbrella.

Swan Mining’s current hash rate stands at 4.5 EH/s — roughly 1% of the network’s global hashrate. The company plans to increase its capacity to approximately 8 EH/s by March, once it brings online the equipment it has already purchased.

“Swan Mining has been built and scaled at an incredible pace. As far as we can tell, this is the fastest initial hash rate deployment of this scale in Bitcoin history,” said Swan Bitcoin’s CIO and head of mining Rafa Zgurzynski.