Bit Mining is going to expand its operations in Central Asia with the purchase of 2,500 crypto mining machines slated for deployment in Kazakhstan. The new devices are expected to increase the Chinese company’s total hashrate capacity by an estimated 165 petahashes per second.
Bit Mining Buys New Cryptocurrency Miners for Data Centers in Kazakhstan
Shenzhen-based Bit Mining Ltd. announced Wednesday it has secured a purchase agreement for the acquisition of 2,500 new bitcoin mining machines. The price tag of the deal is approximately $6.6 million, the crypto mining firm detailed in a press release.
Following the delivery, which is scheduled for next week, the company intends to ship the coin minting rigs to Kazakhstan. Once deployed, the mining devices are expected to increase Bit Mining’s “theoretical maximum total hash rate capacity by approximately 165 petahashes per second (PH/s).”
Bit Mining said it’s constantly monitoring the market for cryptocurrency mining hardware and will consider “cost-efficient” acquisitions “on an opportunistic basis.” It emphasized:
Looking forward, the company is prepared to further expand the scale of its business and increase its theoretical maximum total hash rate capacity, in order to strengthen its position as a leading cryptocurrency mining enterprise.
Chinese Mining Company Continues Migration to Central Asia
The crypto firm further noted that the expansion of its bitcoin mining machine fleet goes on in parallel with the implementation of its overseas development strategy which is largely focused on Central Asia. Bit Mining has already installed 3,819 rigs with a total hashrate capacity of 172 PH/s in data centers in Kazakhstan. Another 4,033 bitcoin miners with a hashrate capacity of 121 PH/s have been shipped to the country and are currently awaiting deployment.
According to the announcement published by Prnewswire, the company has also launched ethereum (ETH) mining operations outside of mainland China that have a hashrate capacity of 86.4 gigahashes per second (GH/s). “An additional hash rate capacity of 4,713.6 GH/s is expected to be deployed by the end of October 2021,” Bit Mining added.
In May, the Chinese company revealed plans to build and operate a 100 MW crypto-mining data center in Kazakhstan, a project that will be implemented in partnership with two local companies. In June, Bit Mining began moving 3,000 bitcoin mining machines to Kazakhstan amid an ongoing government crackdown on crypto mining in the People’s Republic of China.
Do you expect more crypto mining companies from China to follow Bit Mining’s lead and relocate to Central Asia?
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.