- 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 trying to make investments $13.5 million in a serious 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 response to particulars the publicly-traded firm just lately divulged through a regulatory submitting, it would purchase the brand new Bitcoin mining rigs from JingYun Clever Know-how, a agency based mostly 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.
Aside from deploying BTC mining rigs, Coolpad eyes ttraction within the crypto and Web3 area through a multi-million share buy plan. The corporate is concentrating on shares of crypto associated corporations within the US, together with BTC miner CleanSpark.
Not too long ago, former US president Donald Trump met with prime Bitcoin mining firms with operations within the US. He pledged to help the business, noting that “all BTC mining should be in the US.”