Proto, the bitcoin mining hardware division of Jack Dorsey’s Block (NYSE: XYZ), develops modular mining systems designed for efficiency and durability. Each hashboard offered through Sazmining delivers approximately 200 terahashes per second (TH/s) of computing power at an energy efficiency of roughly 15 joules per terahash (J/TH).
Rather than purchasing an entire mining system, customers can acquire individual hashboards, reducing upfront costs while retaining ownership of the equipment. Sazmining charges a single rate covering electricity and maintenance. The launch follows a multi-megawatt hardware supply relationship between the two companies, which they expect to expand as demand increases.
“Because of our aligned-incentive model, Sazmining only earns when we produce bitcoin for our clients,” said Kent Halliburton, Sazmining’s CEO and co-founder, in a statement. “Proto’s hardware is built to last, and durability means more uptime hashing for the people who own them.”
Halliburton also positioned mining as an alternative method of acquiring bitcoin, arguing that spreading equipment and electricity costs over a machine’s operating life provides diversification compared with purchasing bitcoin directly on exchanges. Mining profitability depends on several variables, however, including network difficulty, electricity costs, equipment performance, and bitcoin’s market value. Returns are not guaranteed.
The company also emphasized its renewable energy commitments, claiming its mining fleet operates with a carbon-free energy share more than 20% above the Bitcoin network average. Founded in 2018, Sazmining operates mining facilities in the United States, Paraguay and Norway, serving individual and institutional customers.
