Powerbridge Technologies Co., Ltd. launches Hong Kong Bitcoin and Ether mining operations with a plan to deploy 2,600 high-performance mining rigs.
The Chinese company Zhuhai announced on Friday that its fleet will include 600 high-performance bitcoin mining machines with a hash rate (processing power) of about 60 petahashes per second and 2,000 high-performance Ethereum miners with a hash rate of approximately 1,000 gigashes per second.
“We expect our high-performance, green crypto mining rigs to significantly accelerate our revenues,” PowerBridge Technologies President Stuart Lohr said in a statement Friday.
The company is a software as a service (SaaS) and blockchain application provider headquartered in Singapore. In August, Powerbridge announced that it was mining Bitcoin and Ether.
The tech company’s share price rose 14% on Friday, after which some of its profits rose about 3%. Stocks are down about 48% this year against the 17% rise in the Nasdaq over the same period.
On August 25, Powerbridge announced that it has signed a deal to buy 5,600 miners from Crypto Digital Holdings Ltd., which will be shipped from October 2021.
Lately, cryptocurrency mining companies have been expanding their operations in North America, especially in Texas. Earlier this year, Argo Blockchain said that by choosing a location in Texas, it was able to provide access to some of the “cheapest renewables in the world.”
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