Bit Mining announced the construction of mines in Kazakhstan and signed two hosting agreements for mining machines in Kazakhstan

On May 24, 2021, Bit Mining$Bit Mining (BTCM) $A leading encrypted digital cash mining company (hereinafter referred to as "the Company") announced today that it has signed a legally binding investment clause (hereinafter referred to as "the Clause") with a Kazakh company (hereinafter referred to as "the Partner"), and both parties will jointly invest in the construction of a big data center ("Kazakhstan Mine") in Kazakhstan. According to the terms, the company plans to invest a total of 60 million RMB (about 9.33 million US dollars) to jointly build and operate a 100 MW mine with its partners. After the completion of the mine, the Company will hold 80% of the shares of Kazakhstan mine and the partners will hold 20% of the shares.

    At the same time, the Company signed a mining machine custody agreement (hereinafter referred to as the "Agreement") with the partner and another Kazakh company (hereinafter referred to as the "Operation Management"). According to the agreement, the partners and the operation management will provide the company with comprehensive big data services in Kazakhstan at the same time, including the company's host site hosting, broadband network technology supporting, security monitoring server management and fault troubleshooting, and assisting the company in maintenance and other comprehensive services. The company expects the total power load of mining machine hosting in Kazakhstan to reach 60 MW, of which 20 MW of mining machine hosting power is expected to start operation on July 1. In addition to the 57.2 MW mine in Texas, USA, which was previously announced to be built, Bit Mining plans to build its own mine overseas with a total power load of 157.2 MW.

Disclaimer: The above content represents only the personal views of the poster and does not constitute investment advice on this platform.

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