The cryptocurrency mining industry is attracting more investment money. Hong Kong-headquartered crypto miner BIT Mining said it had entered into an agreement to jointly invest in a crypto mining data center in the U.S. state of Ohio, with access to power capacity of up to 85 megawatts.

Fast facts

  • The development of the Ohio mining site is expected to be fully completed in February 2022, the company said in a statement released Wednesday.
  • BIT Mining has been actively expanding its U.S. operation. It has shipped 1,016 mining machines to the U.S., according to the statement.
  • BIT Mining — a New York Stock Exchange-listed company that only months ago became a big investor in Chinese cryptocurrency mining — reported significant revenue growth in the second quarter of this year, and it said last month that it had “completed the transition of its business to an enterprise that covers cryptocurrency mining, data center operation and mining pool.”
  • Meanwhile, Genesis Digital Assets, one of the world’s earliest Bitcoin mining companies, said earlier this week that it had raised $431 million in what it claimed is the largest known funding round announced by a Bitcoin mining company.