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Chinese Bitcoin Mining Company Delivers First Machines to Kazakhstan
BIT Mining expects to deliver another two batches of machines by the start of July.
Updated Dec 10, 2022, 9:23 p.m. Published Jun 22, 2021, 8:49 a.m.
Chinese bitcoin miner BIT Mining delivered its first batch of 320 machines to Kazakhstan after its operations in the Chinese province of Sichuan were suspended.
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- The publicly traded company (NYSE: BTCM) expects to deliver another 2,600 machines before the start of July, it saidhttps://ir.btc.com/2021-06-21-BIT-Mining-Successfully-Delivers-Mining-Machines-to-Kazakhstan in an announcement Monday.
- The company'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. One PH/s stands for one quadrillion hashes per second, the measure of how many calculations a mining machine can compute.
- The move to Kazakhstan came after BIT Mining received notice on Saturday that the power supply for its data center in Sichuan would be suspended by the state energy regulator.
- BIT Mining's data centers in Sichuan contributed about 3% of its total revenue in May.
- With China's 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 mining center in Texas.
Read more: Sichuan Becomes Latest Chinese Province to Order Bitcoin Miner Shutdown
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