Chinese Bit Mining company invested $ 9 million to build a 100-megawatt Bitcoin farm in Kazakhstan

Shenzhen-based Bit Mining plans to set up and operate a 100 MW crypto mining data center in Kazakhstan. The project will be carried out in cooperation with two local companies that will also provide various services to the company. The total amount of the investment will exceed 9 million dollars. Kazakhstan hosts 100 MW of new crypto mining facility Bit Mining announced this week that it signed a binding investment agreement with a Kazakh organization. The two companies will work together to establish a new cryptocurrency mining facility in the Central Asian Republic. The Chinese company will own an 80% stake in the new mining data center in Kazakhstan, with the remaining 20% owned by its local partner. The Bitcoin farm will open with a capacity of 20 MW and is expected to reach a total capacity of 100 MW when fully operational. Bit Mining said it will invest 60 million Chinese yuan (about $ 9.33 million) in the joint project. The Chinese company also signed two service contracts for mining equipment, one with its main partner and the other with another Kazakh company. They will provide a variety of essential services, including in-house device hosting, broadband network support, security monitoring, and server management and maintenance. The agreements will come into force on 1 July 2021. Bit Mining is expanding its coin-operated operations worldwide. , use of mining pools and data centers. Bit Mining has used bitcoin mining devices with a maximum hash rate capacity of about 1031.5 PH / s so far. It has three hydroelectric data centers with a total capacity of 435 MW. In April, before rebranding, the Chinese company acquired mining company Btc.com. Currently owns all mining pool company operated by UN.

Join the Discussion

  • BrokerEUR/USD
    Core Spreads 0.6pips (variable) margin: 3.33%
    SpreadEX 0.6pips (variable) margin: 3.33%
  • Back to top