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Estonian IT Corporation Entered $26M Deal With Bitmain to Supply Crypto Mining Equipment

By Shannon Wilson | June 17, 2021

Tech corporation from Estonia, Burfa, is reportedly entering a collaboration with Bitmain, to provide primary crypto mining equipment to its data facility in Narva. 

Specifically, the freshly finalized deal – with value equivalent to $26-million – will reportedly assist Burfa in achieving a two-time increase for its data center capacity, as well as tapping into a steady source of processing equipment throughout the next months. 

The industrial sphere is reportedly facing a problem of insufficiency for specialized GPUs and SSDs, since these types of equipment have been mostly bought by crypto-centric entities, which are focusing on Bitcoin (BTC) mining throughout the bull market. 

The equipment will reportedly arrive at Burfa in the summer soonest, as revealed by the firm. 

“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”, Ivan Turygin, chairman of the board at Burfa, reportedly revealed. 

Turygin additionally disclosed that other different companies have to deal with a waiting window for the full restoration of supply chains, or spend an extensive amount of money on the equipment on the secondary market. 

He further remarked that the rapidly developing crypto adoption rate, currently having $1.7 trillion in digital-asset class, will reportedly be the godsend factor, helping with Burfa’s expansion plans in the future. 

“The Burfa Group companies have been our long-term and trusted customers. This is also the basis for the current contract, ensuring that Burfa gets state-of-the-art and most efficient technology for developing their high-performance data centers.” Du Shisheng, vice president of Bitmain’s mining arm, reportedly shone some light to the long-running alliance with Burfa.

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