China’s government is taking on climate protection, and as a consequence, the pressure on Bitcoin miners is growing. The Chinese company BIT Mining is meanwhile building a new pillar in Texas.
BIT Mining Limited has invested $ 25.74 million in a new Bitcoin mining facility in Texas. For the project, the Chinese company entered into a partnership with Dorry Creek, a subsidiary of the mining chip manufacturer.
BIT Mining and Dorry Creek want to build and operate the new mining center together. According to a press release, it should have a capacity of 57.2 megawatts. BIT Mining promises that 85 percent of the energy will come from environmentally friendly sources.
The company is by no means new to the mining game. It only acquired the bitcoin mining pool BTC.com in April. In addition, BIT Mining owns three hydro-powered mining facilities in the Sichuan Province in southwest China.
Because of the low electricity prices, China has long been considered the Bitcoin mining paradise. In the course of setting new climate targets, the Chinese government is meanwhile cutting down the energy-hungry fallow land. In addition to increased monitoring of mining farms, Beijing almost completely stopped crypto mining in Inner Mongolia.
The Chinese government recently banned domestic banks and financial service providers from handling Bitcoin. This not only had a devastating effect on the price of the most important cryptocurrency, but such a step could also have unpleasant consequences for Chinese Bitcoin miners. So it seems wise that BIT Mining is expanding to the other side of the Pacific.
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