Mining Firm Is Ready To Move From China

Biggest Cryptocurrency mining company confirmed to move from China to Kazakhstan. After China’s crypto mining ban.

Fifth largest mining pool which is according to mining hash power, operated by BIT mining, confirmed that they  successfully relocated its first batch of mining machines to Kazakhstan.

Related: China Moving Toward national Crypto Mining Ban

This situation for to relocate their equipment came after the notice of stoppage of electricity supply by local electricity provider company, western Sichuan.

Through the statement about this whole matter, BIT mining said 

“On June 19, 2021, the Company’s indirectly held subsidiary, Ganzi Changhe Hydropower Consumption Service Co. Ltd received notice from State Grid Sichuan Ganzi Electric Power Co., Ltd. informing Ganzi Changhe Data Center, that its power supply would be suspended, effective 9:00pm Beijing time, June 19, 2021. Ganzi Changhe Data Center has since suspended its operations. Data centers in Sichuan, including the Ganzi Changhe Data Center, contributed approximately 3% of the Company’s total revenues in the month of May 2021.”

BIT Mining CEO Xianfeng Yang revealed that their main target was to work in the Cryptocurrency business with better results. And also they are committed to their work with environment safety to make carbon neutral as much as possible. 

They are strategically expanding their business network now in Texas and Kazakhstan with the same strategy.

Also BIT mining claims that they are near to getting more quality in their work with mining resources, Because the conditions for their mining business is more favourable now.

Related: Nayib Bukele Planning To Produce Green Energy For Mining

Well here we can see that many sources of renewable energy and green energy are now more available and also many countries’ governments and many companies are eagerly entering in this field to energy & power production to expand the mining industry.

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