Colorado-headquartered Bitcoin miner Crusoe Energy Systems reportedly disclosed details related to the purchase of the operating assets of portable BTC mining operator Great American Mining (GAM).

Specifically, the freshly finalized agreement will reportedly have GAM’s operations integrated into Crusoe’s, including more than 10 megawatts (MW) to its mining output and approximately 4,000 application-specific integrated circuit (ASIC) crypto mining rigs – increasing Crusoe’s capacity by around 9%. 

GAM builds and deploys portable BTC mining centers – vehicle trailer-mounted containers enclosed with ASIC miners – to work towards the target of assisting oil and gas firms to utilize stranded or otherwise wasted natural gas via using it to run the facility to mine BTC.

Crusoe will possess approximately 125 of these gas-powered waste containers deployed and operating after the deal, which it claims could bring down an annual CO2-equivalent emission of approximately 170,000 cars.

The consolidation of these two mining operations comes as the sector faces pressure from both the traditional and crypto markets, as well as an all-time high BTC mining difficulty, all of which is negatively affecting miner profitability.

Markus Thielen, head of research and strategy for digital asset services platform Matrixport, reportedly revealed that the large part of the mining hash rate setting up new shop in America throughout the past two years had “significant consequences” on the way the sector was positioned into the wider economic downturn.

“Around 20 Bitcoin mining companies raised additional capital through IPOs where shareholders demanded a high correlation to the underlying Bitcoin price”. 

“The result was that mining companies bought Bitcoin directly from the market at higher costs than their mining operations and were negatively exposed to further capital expenditure investments as they placed equipment orders a year in advance.”