Swan Bitcoin, a renowned company in the cryptocurrency sector, has announced the launch of its mining business in the United States. Since July 2023, the company has been operating a coin mining division, which until recently was in stealth mode. During this period, Swan Bitcoin mined over 750 bitcoins.

The company plans to utilize seven mining farms with a total capacity of about 160 megawatts, capable of generating 4.5 exahashes. The equipment is located both in the US and abroad, although it is not specified what sources of electricity are used for their operation.

Swan Bitcoin's CEO, Cory Klippsten, emphasized the company's strategic goal to place 50% of its equipment in the US and 50% in other countries to expand and seek affordable electricity in various jurisdictions. Rafa Zaguri, a former employee of Deutsche Bank and Merrill Lynch, will be responsible for the development of the mining division.

Klippsten also mentioned that the company is actively working towards a public listing within the next 12 months, with the organization's annual revenue estimated at approximately $120 million.