BIT Mining Provides Business Progress and Operational Update By DailyCoin


BIT Mining Provides Business Progress and Operational Update

BIT Mining Limited (NYSE: BTCM) (“BIT Mining” or the “Company”), a leading technology-driven cryptocurrency mining company, today announced its progress in the construction and buildout of its Ohio mining site in North America. In collaboration with its partner, the Company has achieved approximately 50 megawatts (“MW”) of power capacity at the Ohio mining site.

As announced in October 2021, BIT Mining is constructing a data center in Ohio (“Ohio Mining Site”), with a total planned power capacity of up to 150MW. As the data center’s power capacity continues to scale, the Company is not only conducting self-mining operations, but is also hosting third-party miners.

Xianfeng Yang, CEO of BIT Mining, commented,

“Our Ohio Mining Site continues to grow, and we are making progress in its buildout and in securing mining machines, despite ongoing industrywide supply-side constraints. 50MW is our first notable milestone, but this is only the beginning. We intend to reach our goals of extending our footprint and creating strong industry partnerships. As we continue to grow our computing power, we are also focused on creating a technology-driven diversified enterprise, capable of generating revenue along the cryptocurrency value chain.”
The Company also announced further operational updates, as of today the Company has:

– 532.8 PH/s theoretical maximum computing power in North America, of which 344.7 PH/s has been deployed. Additional machines are waiting to be tested and deployed.

– 292.7 PH/s theoretical maximum Bitcoin computing power in Kazakhstan,of which 146.8 PH/s has been deployed. Additional machines are waiting to be tested and deployed.

– 4,800.0 GH/s theoretical maximum computing power in Hong Kong,of which 4,747.2 GH/s has been deployed. Additional machines are waiting to be tested and deployed.

– Approximately 491.5 PH/s Bitcoin computing power in aggregate with estimated daily production of approximately 2.56 BTC.

– Approximately 4,747.2 GH/s Ethereum computing power in aggregate with estimated daily production of approximately 72.29 ETH.

Mr. Yang concluded,

“We continue to execute on our strategy and have aggressive plans to scale throughout 2022. Our ability to source mining machines and gain access to the best technology has been, and will continue to be the primary driver of our success. We are confident that the continued diversification of our business and integration of new ventures will make us well positioned to drive stakeholders’ value.”

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



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BIT Mining Provides Business Progress and Operational Update

BIT Mining Limited (NYSE: BTCM) (“BIT Mining” or the “Company”), a leading technology-driven cryptocurrency mining company, today announced its progress in the construction and buildout of its Ohio mining site in North America. In collaboration with its partner, the Company has achieved approximately 50 megawatts (“MW”) of power capacity at the Ohio mining site.

As announced in October 2021, BIT Mining is constructing a data center in Ohio (“Ohio Mining Site”), with a total planned power capacity of up to 150MW. As the data center’s power capacity continues to scale, the Company is not only conducting self-mining operations, but is also hosting third-party miners.

Xianfeng Yang, CEO of BIT Mining, commented,

“Our Ohio Mining Site continues to grow, and we are making progress in its buildout and in securing mining machines, despite ongoing industrywide supply-side constraints. 50MW is our first notable milestone, but this is only the beginning. We intend to reach our goals of extending our footprint and creating strong industry partnerships. As we continue to grow our computing power, we are also focused on creating a technology-driven diversified enterprise, capable of generating revenue along the cryptocurrency value chain.”
The Company also announced further operational updates, as of today the Company has:

– 532.8 PH/s theoretical maximum computing power in North America, of which 344.7 PH/s has been deployed. Additional machines are waiting to be tested and deployed.

– 292.7 PH/s theoretical maximum Bitcoin computing power in Kazakhstan,of which 146.8 PH/s has been deployed. Additional machines are waiting to be tested and deployed.

– 4,800.0 GH/s theoretical maximum computing power in Hong Kong,of which 4,747.2 GH/s has been deployed. Additional machines are waiting to be tested and deployed.

– Approximately 491.5 PH/s Bitcoin computing power in aggregate with estimated daily production of approximately 2.56 BTC.

– Approximately 4,747.2 GH/s Ethereum computing power in aggregate with estimated daily production of approximately 72.29 ETH.

Mr. Yang concluded,

“We continue to execute on our strategy and have aggressive plans to scale throughout 2022. Our ability to source mining machines and gain access to the best technology has been, and will continue to be the primary driver of our success. We are confident that the continued diversification of our business and integration of new ventures will make us well positioned to drive stakeholders’ value.”

EMAIL NEWSLETTER

Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7]
You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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