A Chinese blockchain company, Bitmain, has made an agreement to invest $9 million to build a 100-megawatt cryptocurrency mining farm in Kazakhstan. The farm, which would be the biggest one in Central Asia, is expected to begin operations in early 2019. (source: http://www.coindesk.com/chinese-firm-bit-mining-invests-9m-to-build-100-megawatt-bitcoin-farm-in-kazakhstan/)
The mining of bitcoins will now be a real business in Kazakhstan. The Chinese company Bitmain, which specializes in the production of ASIC devices for crypto mining, has invested $9 million in the construction of a bitcoin farm with a capacity of 100 megawatts. The farm will be installed in the Karaganda region.
Bit Mining, a Chinese BTC mining company, has announced a $9M project to build the largest Bitcoin mining farm in the Central Asia region. The farm will be located in Kazakhstan, and is expected to generate 100 MW of power, which will be sufficient to mine about 8,192 bitcoins per month. According to the company, the farm’s power capacity is enough to power 2,200 average American homes.
Shenzhen-based Bit Mining plans to build and operate a 100MW data center for mining cryptocurrencies in Kazakhstan. The project will be undertaken in partnership with two local businesses who will also provide some services to the facility. The total investment will be more than $9 million.
New 100MW cryptocurrency mining facility appears in Kazakhstan
Bit Mining announced this week that it has entered into a binding investment agreement with a Kazakh company. The two companies will work together to build a new cryptocurrency mining facility in the Central Asian republic. The Chinese company will have an 80% stake in the new mining data center in Kazakhstan, while the remaining 20% will be owned by its local partner. The Bitcoin farm will start with a capacity of 20MW and is expected to reach a total capacity of 100MW when fully operational. Bit Mining said it would invest CNY60 million (about US$9.33 million) in the joint project. The Chinese company has also signed two service contracts for its mining equipment, one with its main partner and another with another company in Kazakhstan. They offer a range of essential services including on-site equipment delivery, broadband network support, security monitoring, server management and maintenance. These agreements will enter into force on 1 January 2011. July 2021.
Bit Mining expands its coin business worldwide
Bit Mining, formerly known as 500.com, has been rapidly expanding in the cryptocurrency mining industry since the beginning of this year and its operations now include cryptocurrency mining, mining pool and data center operations. Bit Mining now has bitcoin mining equipment in operation with a maximum hash rate of about 1031.5 PH/s. It has three hydroelectric data centres with a total capacity of 435 MW. In April, prior to the rebrand, the Chinese company acquired mining company Btc.com. It currently owns the entire mining pool business operating under the Btc.com brand, including the platform’s domain name and crypto-currency portfolio. Listed Bit Mining Limited (NYSE: BTCM) has also acquired Bee Computing (HK) Limited, a manufacturer of 7-nanometer mining machines for cryptocurrencies. The acquisition aims to complete vertical integration with the supply chain, the company said, while increasing self-sufficiency and strengthening its competitive position. This month, Bit Mining announced plans to build a new cryptocurrency mining data center in the US state of Texas. The $25 million investment is part of a binding agreement with Dory Creek, a wholly owned subsidiary of Bitdeer. The companies plan to build and operate a 57 MW mining facility that will run primarily on low-carbon energy. What do you think of the latest mining project in Kazakhstan? Let us know your comments in the section below.
Tags in this story
agreement, mining, bitcoin, bitcoin farm, BTC.com, company, crypto currency, mining, crypto currency, data center, investment, Kazakhstan, maintenance, mining, mining equipment, partners, project, services, Texas Photo credit: Shutterstock, Pixabay, Wiki CommonsAn unnamed Chinese mining firm working under a subsidiary named Bit Mining has reportedly invested $9 million in building a 100-megawatt Bitcoin farm in Kazakhstan, according to the local news outlet RadioFreeEurope. The mining farm will be built by a local operator in the region called Taldykorgan, with the Chinese firm Bit Mining expected to start functioning by the end of April.. Read more about kazakhstan bitcoin mining and let us know what you think.
bitcoin mining latest newsbitcoin mining facilitykazakhstan bitcoin miningbitcoin mining roombitcoin mining warehousebiggest bitcoin mining facility,People also search for,Privacy settings,How Search works,kazakhstan in talks on $700 mln in cryptocurrency mining projects,bitcoin mining latest news,bitcoin mining facility,kazakhstan bitcoin mining,bitcoin mining room,bitcoin mining warehouse,biggest bitcoin mining facility,enegix mining