Bitcoin mining company BIT Mining, owner of the BTC.com mining pool and corresponding domain name, announce Today it has successfully transported the first batch of three sets of bitcoin miners from China to Kazakhstan. The company expects to deliver a total of 2,600 mining rigs to the Central Asian country by July 1, 2021.
“We are committed to protecting the environment and lowering our carbon footprint,” Xianfeng Yang, CEO of BIT Mining, commented in the announcement. “We have been strategically expanding our operations overseas as part of our growth strategy. Following our investments in cryptocurrency mining data centers in Texas and Kazakhstan, we are accelerating our offshore development of high-quality alternative mining resources.”
The first batch of 320 bitcoin miners were recently delivered to Kazakhstan, capable of about 18.2 peta hashes per second (PH/s), and are expected to start operating in Kazakhstan in less than five days. However, the largest share of BIT Mining’s hash rate in this transfer will be delivered through the second and third batches. Combined, it will reach 2,600 machines and have a hash rate capacity of 102.3 PH/s.
The total hash rate capacity in BIT Mining is much larger than this total, though BTC.com The mining pool represents 9741 PH/s – about 9% of the Bitcoin network total hash rate. This move to Kazakhstan is part of the company’s expansion strategy abroad. Over the coming quarters, it plans to ship its remaining miners to other data centers outside of China.
The offshore deployment strategy of BIT Mining is likely to have been born from the recent period Bitcoin Campaigns in China. In mid-May, the country’s State Council participated a statement He said the government would “hang on the behavior of bitcoin mining and trading and resolutely prevent the transfer of individual risks to society.”
According to the announcement, the indirectly owned subsidiary of the company, Ganzi Changhe Data Center, has received a notice from Sichuan State Grid informing it that the network will cut off power supply by June 19. It said Issuing closure orders to bitcoin miners in the province. BIT Mining’s data centers in Sichuan, including Ganzi Changhe, contributed about 3% of the company’s total revenue in May 2021, according to the announcement.