BIT Mining Limited, a US-listed cryptocurrency mining business, announced on Wednesday that it concurred with Viking Data Centers, LLC to jointly invest in developing a crypto mining data center in Ohio. According to the press release, the firm participated in a Membership Interest Purchase Agreement with Viking Data Centers to develop the infrastructure with a power capability of up to 85 megawatts.
The advancement of the crypto mining site is anticipated to be completed by February 2022, BIT Mining stated. The deal included a total investment of $12.1 million in the so-called Ohio Mining Website. As part of the offer, the US-listed company will hold a 51% equity interest in the mining information center, while Viking Data Centers will hold the remaining 49%.
« As part of its growth method, BIT Mining has been carrying out a robust plan to invest in, get and establish high-quality mining resources around the globe. The company has delivered 1,016 mining machines to the United States since the date of this news release. Going forward, the business prepares to additional enhance its growth efforts and accelerate its global development, » the statement kept in mind.
The deployment of the information center’s building will occur in 3 phases, with the first one consisting in developing a total capacity of 11 MW, while the 2nd and third stages will have 39 MW and 35 MW of capability, respectively. « The first, 2nd, and third stages are presently anticipated to be completed by October 15, 2021, November 15, 2021, and February 15, 2022, respectively, » BIT Mining commented.
Current Crypto Mining Industry Developments
Likewise, in other statements within the crypto mining sphere, Iceland-headquartered Genesis Digital Assets, a major business Bitcoin mining company, finished another enormous tactical funding round, raising $431 million from equity capital investors.
The round was led by Paradigm and took part by huge names in the crypto and financing space, including NYDIG, Stoneridge, FTX, Ribbit, Electric Capital, and Skybridge.
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