- 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 telecommunications supplier listed on the Hong Kong Inventory Trade, is ready to speculate $13.5 million in a significant bitcoin mining operation.
As a part of the foray into crypto, Coolpad has particularly earmarked over HK$106 million (roughly $13.5 million) for the initiative.
The Chinese language firm plans to spend money on 2,700 BTC mining rigs, deploying the acquired machines in North America.
Coolpad eyes Web3 business
The publicly traded firm will purchase new bitcoin mining tools from JingYun Clever Know-how, a Hong Kong-based agency, in line with particulars lately disclosed by means of a regulatory submitting. Nonetheless, Coolpad didn’t disclose the rig producer from which JingYun procures the machines.
The funding will improve Coolpad's present computing energy from 873,000 TH/s to roughly 1,504,800 TH/s.
Along with deploying BTC mining rigs, Coolpad is pursuing traction within the crypto and Web3 house by means of a multi-million greenback inventory buy plan. The corporate focuses on shares of US cryptocurrency-related corporations, together with BTC miner CleanSpark.
Just lately, former US President Donald Trump met with main Bitcoin mining corporations working within the US. He pledged to help the business, noting that “all BTC mining ought to be within the US.”
