NYSE Listed BIT Mining Ships 320 Bitcoin Mining Hardware From China To Kazakhstan

Cryptocurrency mining company BIT Mining, listed on the New York Stock Exchange, announced that it has shipped a total of 320 mining machines from its data center in Sichuan, China, to a new location in Kazakhstan. According to the update shared by the company, the Chinese government subsidiary Ganzi Changhe Hydropower Consumption Service Co. The hardware move became necessary as Ltd. was reported to have cut off the power supply. The development outside of China shows that Beijing is strict on the mining ban, a recurring trend the crypto ecosystem has seen in recent years. Since the shipped hardware will be operational by June 27, 2021, the restriction on mining activities is not expected to disable companies like BIT Mining for much longer. The 320 mining machines theoretically yield a total hash rate capacity of 18.2 PH/s. These are billed to be tracked with the shipment of the second and third party totaling 2,600 mining machines. The theoretical maximum total hash rate capacity of the next two batches is 102.3 PH/s. The mining ban comes amid energy concerns The mining ban is rooted in Bitcoin's major energy problems, but BIT Mining, through its CEO, Mr. It reduces the “carbon footprint”. “As part of our growth strategy, we have strategically expanded our operations abroad. Following our investments in cryptocurrency mining data centers in Texas and Kazakhstan, we are accelerating our overseas development for alternative high-value mining resources. We believe in our vision and early goal. -carrier advantage, globally changing "The mass migration of miners from China is seen as a positive development to help decentralize mining operations. The Asian giant's threats of containment will be reasonable."

Join the Discussion

  • BrokerEUR/USD
    LCG 0.3pips (variable) margin: 3.33%
    SpreadEX 0.6pips (variable) margin: 3.33%
  • Back to top