Powerbridge Launches Green Crypto Mining Operation Based in Singapore

The China-based SaaS and blockchain firm is following up on plans to expand into crypto mining.

Sep 24, 2021 at 1:40 p.m. UTC
Updated Sep 24, 2021 at 3:37 p.m. UTC

Nasdaq-listed Powerbridge Technologies has launched a new Singapore-based crypto mining subsidiary, Powercrypto Holdings, that is powered by renewable energy.

  • Powerbridge, which first announced it would be moving into bitcoin and ether mining in August, said Powercrypto operations will focus on developing green energy-powered crypto mining farms in North America and Asia.
  • Powercrypto hopes to achieve a BTC hashrate of 1,000,000 TH/s and ETH hashrate of 698,224 MH/s, the firm said in a press release.
  • The Zhuhai, China-based technology firm focuses on offering software-as-a-service (SaaS) products and blockchain applications.
  • “We believe this is an opportune time to launch Powercrypto, as we look to expand our global operations of crypto mining and digital assets. Powerbridge is well positioned to accelerate the growth of our crypto businesses and generate promising revenue from it,” said Stewart Lor, president of Powerbridge.

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Tanzeel Akhtar is a CoinDesk news reporter based in Europe.