- Coolpad Group plans to accumulate 2,700 BTC mining rigs for $13.5 million.
- The corporate will deploy these rigs in North America.
Coolpad, a Shenzhen-based telecom supplier listed on the Hong Kong Inventory Change, is seeking to make investments $13.5 million in a significant Bitcoin mining operation.
As a part of a foray into crypto, Coolpad has particularly allotted over HK$106 million (roughly $13.5 million) to this initiative.
The Chinese language firm plans to spend the investmen on 2,700 BTC mining rigs, with the acquired machines then deployed in North America.
Coolpad eyes Web3 business
In keeping with particulars the publicly-traded firm lately divulged by way of a regulatory submitting, it would purchase the brand new Bitcoin mining rigs from JingYun Clever Know-how, a agency primarily based in Hong Kong. Nevertheless, Coolpad didn’t disclose the rig maker from whom JingYun secures the machines.
The funding will improve Coolpad’s present computing energy from 873,000 TH/s to about 1,504,800 TH/s, it mentioned.
Other than deploying BTC mining rigs, Coolpad eyes ttraction within the crypto and Web3 house by way of a multi-million share buy plan. The corporate is concentrating on shares of crypto associated companies within the US, together with BTC miner CleanSpark.
Lately, former US president Donald Trump met with high Bitcoin mining firms with operations within the US. He pledged to assist the business, noting that “all BTC mining needs to be within the US.”
