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Chinese firm invests $ 25 million in ‘cryptocurrency mining data center’ in Texas – mining bitcoin news

On Wednesday, Bit Mining Ltd., formerly known as 500.com, announced that it had entered into a binding investment in a cryptocurrency mining data center located in Texas. The $ 25 million binding investment is with Dory Creek, LLC as the two companies will build and operate a 57.2 MW mining facility powered by 85% low carbon energy.

Bit Mining pledges $ 25M to build Texas mining facility with Bitdear

Chinese company Bit Mining Ltd is taking several steps in the cryptocurrency mining industry, as the business used to be dedicated to lottery operations. In mid-February, Bitcoin.com News reported on Bit Mining when the company was called 500.com and the firm announced that it had acquired mining company BTC.com.

In April, the company revealed that it had rebranded and Bit Mining Ltd (NYSE: BTCM) also said that it had acquired mining rig manufacturer Bee Computing. The partnership with Bitdier’s wholly owned subsidiary Dory Creek was announced on May 19.

Chinese firm invests $ 25 million in 'cryptocurrency mining data center' in Texas
The company Bit Mining Limited used to be a Chinese lottery company but recently converted into a bitcoin mining firm. Bit Mining has acquired BTC.com, Be Computing, and is now partnering with Bitdier to build a Texas mining facility.

The two firms will invest $ 25.74 million to “jointly build and operate the Texas Mining Center”. The Shenzhen-based company highlighted in the announcement that the business operations focused on “reducing its carbon footprint” and “protecting the environment”.

“Texas Mining Center has a total power capacity of 57.2MW, more than 85% of its electricity is generated from clean and low-carbon energy,” Bit’s Texas Mining Center announcement said. “As the power supply in Texas is further optimized, the Texas Mining Center will use a higher proportion of electricity generated from clean energy.”

Bit Mining’s Texas Crypto Mining Center Announcement Focuses on Carbon Neutrality

Bit’s current data centers in Sichuan Province, China “run 100% on clean energy,” the company claims. Bit Mining says the new operation in Texas could help the local economy and further “provide local employment opportunities.”

The company’s announcement is littered with comments about carbon neutrality such as the recent attention-grabbing energy drama launched by Tesla. Meanwhile, shares of BTCM jumped more than 7% during the last 24 hours, following the announcement on Wednesday the next day.

“Upon completion of Texas Mining Center,” concludes the announcement of the bit. “More than 98% of the company’s total electricity capacity will be generated from clean and low carbon energy. Going forward, Bit Mining intends to play its role, fulfill its obligations to achieve carbon neutrality and additional overseas Seeks high-quality mining resources. “

What do you think about Bit Mining Investments at Texas Mining Facility with BitDear? Tell us what you think about this topic in the comments section below.

Tag in this story

500.com, 57.2MW, B Computing, Bit Mining, Bit Mining Ltd, Bit Mining Operation, Bitcoin, Bitcoin (BTC), Bitcoin Mining, BTC Mining, BTC.com, Carbon Neutrality, China, Chinese Lottery Firm, Clean Energy, Low carbon, sichuan, tesla, texas, texas facility, texas mining center

Image credit: Shutterstock, Pixabay, Vicky Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell a product, services, or companies, or a recommendation or endorsement of a product, services, or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly responsible for any damage or loss in connection with the use or reliance of any of the materials, goods or services mentioned in this article.

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