Bit Mining (NYSE: BTCM), a global leader in technology-driven cryptocurrency mining, has announced the completion of 50MW power infrastructure at its Ohio-based mining facility as part of an ongoing 150MW expansion project.
Key Developments
- 50MW Milestone Achieved: The Ohio facility, currently under construction, now operationalizes 50MW for self-mining and hosting services.
- 150MW Expansion Plan: The full-scale project aims to deliver 150MW capacity, aligning with the company’s October 2021 disclosure.
Global Hashrate Deployment:
- USA: 532.8 PH/s BTC mining capacity (344.7 PH/s deployed).
- Kazakhstan: 292.7 PH/s BTC mining capacity (146.8 PH/s deployed).
- Hong Kong: 4,800 GH/s ETH mining capacity (4,747.2 GH/s deployed).
Leadership Insights
CEO Yang Xianfeng emphasized:
"Our Ohio facility’s 50MW milestone marks just the beginning. We’re scaling operations through strategic partnerships and technological innovation to diversify revenue streams across the crypto value chain."
Operational Output (Deployed Miners)
| Cryptocurrency | Hashrate | Daily Yield |
|----------------|----------------|-------------------|
| BTC | 491.5 PH/s | ~2.56 BTC |
| ETH | 4,747.2 GH/s | ~72.29 ETH |
Future Roadmap
Bit Mining plans aggressive 2022 expansion, leveraging:
- Acquisition of advanced mining hardware.
- Integration of emerging crypto technologies.
- Diversification into new revenue-generating verticals.
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FAQs
Q: What services does Bit Mining’s Ohio facility offer?
A: Self-mining and third-party mining rig hosting.
Q: How much BTC can Bit Mining produce daily?
A: Currently ~2.56 BTC from deployed miners.
Q: What’s the total planned power capacity in Ohio?
A: 150MW upon full completion.
Q: Does Bit Mining operate outside the USA?
A: Yes, with active facilities in Kazakhstan and Hong Kong.
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