Bitcoin mining: Chinese miner moving out of the country to setup in Kazakhstan.

Shenzhen- (city in southern China)based cryptocurrency Mining  company has proceed in shipping their bitcoin mining machines to Kazakhstan.

This has follow the Chinese government shutting down the crypto and Bitcoin mining operations in the country.

The mining company “Bit Mining Ltd”., based in southern China (Shenzhen)” has make an announcement on Monday on its first batch delivery of its mining machines to Kazakhstan.

Bit Mining Ltd has also explain how their movement is going to take place.

Read Also: Bitcoins: Everything You Need to Know before Investing

The company will move its mining machine in three batches. And the first batch that was announced to have take place on Monday consist of “320 mining machines”

Each mining machines has a maximum hash rates of 18.2 PH/s. Bit mining company has claim that nothing will stop them from deploying their operations by June 27. 

Read quotes”expected to be deployed and in operation by June 27.”

The company also added that:

The remaining 2,600 mining machines with a theoretical total hash capacity of 102.3 PH/s, are to be taken to Kazakhstan before July 1, 2021.

  • Bit Mining are set to ship their remaining mining machines to the oversea data centers over the coming years.
  • The country’s State Grid Sichuan Electric Power Company had sent a notice to Bit Mining’s indirectly held subsidiary, Ganzi Changhe Hydropower Consumption Service, on June 19 informing bit mining company that its power supply would be suspended starting on June 19.
  • The Ganzi Changhe data center subsequently suspended its operations.
  • According to Bit Mining’s announcement, the mining operations in Sichuan account for approximately 3% of the company’s total revenue in May.
  • Xianfeng Yang, CEO of Bit Mining, commented:

We are committed to protecting the environment and lowering our carbon footprint. We have been strategically expanding our operations overseas as part of our growth strategy.

  • Bit Mining announced an investment in a cryptocurrency mining data center in Kazakhstan in May. It has also invested in a crypto mining data center in Texas.

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