The listed company Bit Mining is investing in overseas mines. Is the overseas expansion of mining machines coming ahead of schedule?

BitMining (BTCM.US) announced that it will invest in a mining farm in Kazakhstan and signed two mining machine hosting agreements in Kazakhstan.
According to the reporter, on May 24, 2021, BitMining (BTCM.US) announced that it had signed a legally binding investment agreement with a Kazakhstan company ("Partner"), and the two parties will jointly invest in the construction of a big data center in Kazakhstan ("Kazakhstan Mine"). According to the terms, BitMining plans to invest a total amount of RMB 60 million (approximately US$9.33 million) to jointly build and operate a mine with a load of 100 megawatts with the partner. After the mine is completed, the company will hold 80% of the shares of the Kazakhstan mine, and the partner will hold 20% of the shares.
In addition, BitMining signed a mining machine hosting agreement with the partner and another Kazakhstan company (hereinafter referred to as the "operation management party"). The agreement stipulates that the partner and the operation management party will provide the company with comprehensive big data services in Kazakhstan, including the company's host on-site hosting, broadband network technology support, security monitoring server management and troubleshooting and assisting the company in repairs and other comprehensive services. BitMining expects the total power load of mining machine hosting in Kazakhstan to reach 60 megawatts, of which 20 megawatts of mining machine hosting power is expected to start operation on July 1.
Regarding the topic of mining farms going overseas, Mr. Li, a person who previously worked at a mine in Inner Mongolia, told Koala Finance reporters that since Inner Mongolia first issued an announcement to crack down on virtual currency "mining", most crypto mines have withdrawn from Inner Mongolia, or some sporadic mines are still holding out for luck and disguising themselves as big data centers. After Inner Mongolia's repeated crackdown policies, some companies have been investigated, and it can be said that almost all of them have withdrawn.
As the first province to respond to the Financial Committee's crackdown on Bitcoin mining, Inner Mongolia is consistent with its previous crackdowns on virtual currency mining. From the complete shutdown of virtual currency mining in February this year to the recent establishment of a "mining" reporting platform and then to the eight more detailed measures required for multiple entities this time, it can be said that its attitude is very firm.
Compared with the ban issued in the context of almost complete clearance in Inner Mongolia, whether other virtual currency mining-related cities will follow up with similar crackdown policies, the actions of Yunnan, Guizhou, Sichuan and power companies and other departments will attract more attention. At present, many mining farms have been transforming or going overseas. As for the countries going overseas, many mining circle bigwigs told Koala Finance reporters that considering cost, compliance and various factors, some mining farms are more likely to turn to Kazakhstan in Central Asia than North America. And Kazakhstan has indeed ushered in a wave of mining farm acceptance. (Koala Finance)