HomeCryptocurrency AdoptionChinese Cryptocurrency companies setup Mining Operations in Kazakhstan

Chinese Cryptocurrency companies setup Mining Operations in Kazakhstan

-

China’s BIT Mining Ltd – ADR announced the delivery of the first batch of its cryptocurrency mining machines to Kazakhstan.

What Happened: Last month, BIT Mining entered into a binding investment term sheet with an unnamed Kazakhstan-based company on a cryptocurrency mining data center in the Central Asian republic.

BIT Mining plans to invest $9.33 million to jointly construct and operate the new Kazakhstan Mining Data Center, which is expected to have a total power capacity of 100MW.

BIT Mining will hold an 80% equity interest in the Kazakhstan Mining Data Center and its local partner will hold the remaining 20%.

This first batch to be delivered consisted of 320 mining machines with a theoretical maximum total hash rate capacity of 18.2 PH/s. The company expected the machines to be in operation by June 27.

A second and third batch, totaling 2,600 mining machines with a theoretical maximum total hash rate capacity of 102.3 PH/s, are expected to be delivered to Kazakhstan before July 1.

Source: https://www.benzinga.com/markets/cryptocurrency/21/06/21648337/chinese-cryptocurrency-firm-sets-up-mining-operations-in-kazakhstan

LATEST POSTS

Cyprus registers Binance as a cryptocurrency service provider.

Binance, a cryptocurrency exchange, will be able to provide services for virtual currencies in Cyprus as a result of the platform's recent registration with the...

More than 24,000 ATMs in Brazil will offer USDT through Tether and Smartpay.

Usdt, the largest dollar-pegged stablecoin on the market, was created by Tether, a company. Tether recently announced that more than 24,000 ATMs in Brazil will...

To solve the blockchain modularity issue, Celestia raises $55 million.

The project Celestia, which seeks to address the alleged centralization issue in the current monolithic blockchains, has announced the completion of its most recent funding...

Hong Kong considers removing the “Professional Investor-Only Requirement” and allowing retail investors to trade cryptocurrency.

Securities and Futures Commission (SFC) of Hong Kong's director of licensing and head of the fintech division both confirmed that the regulator is taking into...

Follow us

13,033FansLike
3,912FollowersFollow
0SubscribersSubscribe

Most Popular

spot_img