BTC.com mobilizes mining equipment outside China

Key facts:
  • BTC.com it owns almost 10% of Bitcoin’s processing power.

  • In addition to Kazakhstan, BTC.com look for energy alternatives in other countries.

The company BIT Mining, owner of the important pool mining BTC.com, announced that it has already mobilized part of its Bitcoin mining teams to Kazakhstan, migrating from China in the face of bans against this industry in that country.

In a press release, the company announced that the first of three batches of mining equipment owned by it had already been moved to Kazakhstan, a Central Asian country bordering southern Russia.

In total, they would be 2,600 mining equipment expected to be transferred to Kazakhstan before July 1, 2021, which have a power of 102.3 petahashes per second (PH / s) of hash rate. This first batch consisted of 320 units, which in total accumulate a power of 18.2 PH / s.

In addition, Bit Mining announced that your mining equipment could be transferred to other data centers around the world, as part of an internationalization strategy.

According to Xiangen Yan, CEO of BIT Mining, the company is also looking for cleaner energy sources, so they will continue to identify” high quality alternative resources ” for mining, in addition to the investments they have in the United States and, now, in Kazakhstan.

The pool mining BTC.com it covers a total of 9.2% of the hash rate Bitcoin network, as shown on its website. Yesterday, June 21st, BTC.com it had an average processing power rate of 11 exahashes per second (EH / s), but at press time, it dropped to 9 EH/s, according to its internal statistics.

Based on recent mining bans in several provinces of China, the hash rate of the Bitcoin network has fallen to levels not seen almost 1 year ago, as reported by CriptoNoticias. Since October last year, the hash rate of Bitcoin did not fall below 100 EH / s, but now it ranks at 88 EH / s, according to BitInfoCharts.

Chinese authorities have called for the closure of Bitcoin mining facilities in 5 provinces: Sichuan, Inner Mongolia, Xinjiang, Qinghai and Yunnan, before June 25, 2021. In addition, the Central Bank has also banned making transactions with BTC.

It was in the city of Sichuan where a subsidiary of BIT Mining, named Ganzi Changhe Data Center, stopped receiving electricity provided by the state last June 19 at 21:00 hours, according to the company in today’s announcement.

They also indicate that these mining centers contributed 3% of the company’s profits during the month of May. Crypto News reported how, alongside these facilities, authorities ordered to close 26 data centers in Sichuan, a region that used to offer the best prices in supplying hydroelectric power to Bitcoin mining.

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