Chinese bitcoin mining company moves its entire operations to Kazakhstan

BIT Mining, a sizable bitcoin mining company in China, announced it has sent a batch of 320 bitcoin miners to Kazakhstan, a state in Central Asia. Last year the company switched to Bitcoin mining and altered its title to BIT Mining.

In its official statement on June 21, the NYSE-listed company declared that it had sent a batch of its bitcoin mining gear to Kazakhstan.

This is BIT Mining’s initial shipment to that the Central Asian nation, comprising 320 Bitcoin mining systems having the estimated total capacity of 18.2 petahash / second. This system is anticipated to go on June 27th. BIT Mining also declared they have two more deliveries using a total of 2,600 miners to the exact same facility.

The move follows a government order that purchased that the Sichuan Hydroelectricity Center to shut down the grid to stop working 26 bitcoin mines there. A subsidiary of BIT Mining was likewise influenced. BIT Mining’s activity is a fast answer on behalf of several Bitcoin miners in China to requests from the authorities of Xinjiang and Sichuan.

BIT Mining noted that its subsidiary Ganzi Changhe Hydropower Consumption Services Company, which it owns, received note from Sichuan Provincial Grid Corporation on June 19. The content declared that its power supply will be cut away from June 19 at 9:00 p.m. (Beijing period ).

“The Ganzi Changhe data centre needed to be briefly shut. Meanwhile, info centres in Sichuan, such as the Ganzi Changhe Data Center, accounted for roughly 3 percent of our overall earnings in May 2021, “added BIT Mining in the official announcement.

Ganzi is one of three mountain regions in the western part of Sichuan Province, near Tibet. This place was previously known to many Bitcoin mining farms thanks to the plentiful supply of hydropower.

In May 2021, BIT Mining also announced that it would invest in mining facilities in Texas, the United States and Kazakhstan through joint ventures with local companies. That statement comes just days after the State Council of the People’s Republic of China discussed crackdown on Bitcoin mining and trading activities.

Synthetic

You may be interested in: