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The Chinese mining company listed on the NYSE is another one that is moving its activities from the country, this time to Kazakhstan

Mining

ccnews24.net 24 May 2021 22:31, UTC
  
Reading time: ~1 m

Last week's decision by the State Council of China to take action against Bitcoin mining forced another large mining company to move its activities to another country.

BIT Mining Limited (NYSE: BTCM) announced today that it has entered into a binding investment agreement with a Kazakhstan-based company to build a joint data center in Kazakhstan.

In a short time, we are witnessing already the second crypto company, which responds to the hostile attitude of the Chinese government, after BTC.TOP, whose CEO Jiang Zhuoer announced that in the future they will mainly establish mining centers in North America.

However, in the case of BIT Mining Limited, this is a much larger relocation, because according to the official agreement, the company is about to invest a total amount of RMB60 million in the Kazakhstan mining data center, which is currently $ 9.35 million.

According to the latest information, BIT Mining Limited has currently a total hash rate of approximately 1,031.5 PH / s. The company operates three hydroelectric cryptocurrency data centers with a total power capacity of 435MW, owns the entire mining pool business on BTC.com as well as this domain and the cryptocurrency wallet of BTC.com.


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