Bit Mining Moving 3,000 Bitcoin Mining Machines to Kazakhstan Following China Crackdown

Shenzhen-based Bit Mining has started shipping bitcoin mining machines to Kazakhstan as the Chinese government cracks down on bitcoin mining operations in the country.

Bit Mining Ltd., a mining company based in Shenzhen, announced Monday that “it had successfully delivered its first batch of mining machines to Kazakhstan.”
The company explained that bitcoin mining machines will be delivered to Kazakhstan in three batches.
The first batch consists of “320 mining machines with a theoretical maximum total hash rate capacity of 18.2 PH/s,” Bit Mining claims, noting that they are “expected to be deployed and in operation by June 27.” The mining company added:

A second and third batch, totaling 2,600 mining machines with a theoretical maximum total hash rate capacity of 102.3 PH/s, are expected to be delivered to Kazakhstan before July 1, 2021.

Bit Mining expects to ship its remaining mining machines to overseas data centers over the coming quarters.
The move followed the Chinese government cracking down on bitcoin mining operations in the country. The State Grid Sichuan Electric Power Company sent a notice to Bit Mining’s indirectly held subsidiary, Ganzi Changhe Hydropower Consumption Service, on June 19 informing the 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.

What do you think about Chinese miners moving to Kazakhstan? Let us know in the comments section below.

Be the first to comment

Leave a Reply

Your email address will not be published.