Chinese crypto mining firm BIT Mining has announced that it is investing US$9.33 million to build and operate a mining data center in Kazakhstan.
- The total power capacity of the data center is expected to be 100 megawatts once completed. BIT Mining will hold an 80% equity interest in the center, with its local partner holding 20%.
- The company also announced the signing of two service agreements for its mining machines, which include on-site machine hosting, broadband network support, security monitoring, server management and support, and maintenance.
- BIT Mining’s latest investment comes as Chinese crypto miners increasingly look to relocate their operations outside the country as the Chinese government tightens restrictions on crypto mining and trading.
- Last week, BIT Mining announced that it was investing US$25.7 million in a crypto mining facility in Texas, which it will construct and operate jointly with Dory Creek, a wholly-owned subsidiary of fellow Chinese cryptocurrency cloud mining platform BitDeer.