BTC Digital, a Chinese Bitcoin mining firm with operations in the US, has announced the purchase of 220 Bitmain Antminer S19j Pro Bitcoin mining machines, further strengthening its Bitcoin mining capabilities. The firm revealed that the machines are scheduled to be delivered and fully operational by the end of November 2023.
The sellers of the machines received 276,572 ordinary shares of BTC Digital, valued at $968,800, as part of the payment for the machines. This acquisition will bring the total number of Bitcoin mining machines operated by BTC Digital to 2,174, with a combined computing power exceeding 230 PH/s. These new machines will be added to the existing 1,954 mining machines already in operation in the US states of Pennsylvania and Tennessee.
Commitment to Blockchain-related Businesses in North America
The announcement also emphasized BTC Digital’s commitment to developing blockchain-related businesses in North America. In addition to crypto mining, the company is involved in mining farm construction, mining pool operation, and data center management.
“We are excited to see the progress we have made so far and the potential for our cryptocurrency business to grow in the long term,” said Alan Peng, CEO of BTC Digital. He further added, “With the recent purchases and our plan to further increase the number of mining machines, we aim to continue improving our financial conditions as well as maximizing value for our shareholders.”
Taking a New Direction – From English Teaching to Bitcoin Mining
Formerly known as Meten EdtechX Education Group, BTC Digital has recently transitioned from being an English teaching business in China to Bitcoin mining in the US. Despite the name change, the company’s website still refers to the previous business as Meten, which was a leading general English language training service provider in China.
BTC Digital is a publicly traded company listed on Nasdaq under the ticker BTCT, with a modest market capitalization of $3.35 million.
