BitMining announced the purchase of 2,500 Bitcoin mining machines, and the computing power will increase by 165 PH/S

On July 28, BitMining (BTCM.US) (hereinafter referred to as the "Company") issued an announcement, announcing the purchase of 2,500 new Bitcoin mining machines by paying cash, with a total value of US$6.6 million (approximately RMB 42.57 million). All mining machines are expected to be delivered within a week and are planned to be shipped to Kazakhstan. After the deployment is completed, the company's total computing power will increase by 165 PH/S.

In addition to the purchase of mining machines, the company has also made breakthrough progress in the transportation and deployment of mining machines:

1) 3,819 Bitcoin mining machines have been deployed in the Kazakhstan data center and have started mining. The total computing power of this batch of mining machines is 172 PH/S.

2) 4,030 Bitcoin mining machines have arrived at the Kazakhstan data center and are waiting to be deployed. The total computing power of this batch of mining machines is 121 PH/S.

3) Some of the Ethereum mining machines purchased in the early stage have been deployed in areas outside mainland China and have started mining. The total computing power of these mining machines is 86.4 GH/S; the remaining 4713.6 GH/S Ethereum mining machines will be deployed before the end of October.

Looking into the future, the company will actively pay attention to changes in the mining machine market and purchase more cost-effective mining machines at the right time to further increase the company's share of Bitcoin's total network computing power, thereby strengthening and consolidating its leading position in the industry.

As of press time, the stock rose 9.64% in pre-market trading to $4.890 per share.