Chinese Bitcoin Mining Company Delivers First Machines to Kazakhstan

BIT Mining expects to deliver another two batches of machines by the start of July.

AccessTimeIconJun 22, 2021 at 8:49 a.m. UTC
Updated Sep 14, 2021 at 1:14 p.m. UTC

Chinese bitcoin miner BIT Mining delivered its first batch of 320 machines to Kazakhstan after its operations in the Chinese province of Sichuan were suspended.

  • The publicly traded company (NYSE: BTCM) expects to deliver another 2,600 machines before the start of July, it said in an announcement Monday.
  • The company's remaining machines will also be shipped overseas.
  • The mining machines already shipped have a theoretical maximum hash rate capacity of 18.2 PH/s. One PH/s stands for one quadrillion hashes per second, the measure of how many calculations a mining machine can compute.
  • The move to Kazakhstan came after BIT Mining received notice on Saturday that the power supply for its data center in Sichuan would be suspended by the state energy regulator.
  • BIT Mining's data centers in Sichuan contributed about 3% of its total revenue in May.
  • With China's crackdown on the crypto mining industry, companies are looking to migrate elsewhere. Along with Kazakhstan, BIT Mining has also invested $25 million in a new mining center in Texas.

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