Chinese Bitcoin Mining Company Delivers First Machines to Kazakhstan

Chinese Bitcoin Mining Company Delivers First Machines to Kazakhstan

Chinese bitcoin mining firm BIT Mining delivered its first batch of 320 machines to Kazakhstan after its Sichuan operations were suspended.

  • The publicly-traded company (NYSE: BTCM) expects to deliver another 2,600 machines before the start of July, it said in an an announcement Monday .
  • The firm's remaining machines will also be shipped overseas.
  • The mining machines already shipped have a theoretical maximum hash rate capacity of 18.2 PH/s.
  • The move to Kazakhstan came after BIT Mining received notice on June 19 that the power supply for its Sichuan data center would be suspended by the state energy regulator.
  • BIT Mining's data centers in Sichuan contributed around 3% of its total revenue in May.
  • With China's recent crackdown on the crypto mining industry, companies are looking to migrate elsewhere. Along with Kazakhstan, BIT Mining has also invested $25 million in a new facility in Texas.
  • Source

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