The crypto miner Cathedra Bitcoin plans to deploy equipment on a Texas-based site owned by 360 Mining. 360 Mining uses natural gas off-grid for electricity production.

The agreement includes a total of 2 megawatts in mining capacity. An initial deployment of 0.3 megawatts will be made within the next 60-days. At full blast the location should produce at least 54 petahash/second (PH/s) of incremental hashrate Cathdera stated Friday.

Cathedra, a Vancouver-based company, will pay $55 per Megawatt Hour of Power Used plus 10% of the gross Bitcoin Mined at the Site to the Austin-based firm.

Cathedra claims that the agreement is the first publically listed miner to use both on-grid and off-grid power. Off-grid power can help bitcoin miners avoid some criticism that they are destabilizing electricity grids due to their power consumption. They also have the option to sell power back to the grid if it is advantageous.

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Sheldon Reback is the editor.