Chinese cryptocurrency miner BIT Mining has signed a deal to build a data center in Texas.

Fast Facts:

  • BIT Mining will invest US$25.7 million in the Texas crypto mining facility, which it will construct and operate jointly with Dory Creek, a wholly-owned subsidiary of fellow Chinese cryptocurrency cloud mining platform BitDeer.
  • According to an announcement by BIT Mining, the total hashrate capacity of the Texas mining center will be 57.2 MW, more than 85% of which will be sourced from low-carbon energy.
  • Concerns over crypto miners’ use of carbon-belching energy sources have cast a shadow over the industry, especially in China, leading to intense scrutiny and even the prohibition of mining, prompting some Chinese crypto mining firms to relocate or expand their operations outside the country.