{"id":81317,"date":"2023-11-06T13:29:50","date_gmt":"2023-11-06T18:29:50","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/chinas-btc-digital-bolsters-bitcoin-mining-capability-with-220-units-crypto-mining-making-a-comeback\/"},"modified":"2023-11-06T13:29:54","modified_gmt":"2023-11-06T18:29:54","slug":"chinas-btc-digital-bolsters-bitcoin-mining-capability-with-220-units-crypto-mining-making-a-comeback","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=81317","title":{"rendered":"China&#8217;s BTC Digital Bolsters Bitcoin Mining Capability with 220 Units \u2013 Crypto Mining Making a Comeback?"},"content":{"rendered":"<div>\n<figure id=\"attachment_127631\" aria-describedby=\"caption-attachment-127631\" style=\"width: 1280px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-127631\" class=\"wp-caption-text\">Source: Adobe \/ Photocreo Bednarek<\/figcaption><\/figure>\n<p>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, bolstering its Bitcoin mining capabilities.<\/p>\n<p>According to an announcement from the firm, the machines, which are set to be delivered and operational by the end of November 2023. As part of the payment for the machines, the sellers received 276,572 ordinary shares of BTC Digital at a value of $968,800.<\/p>\n<p>With the acquisition, BTC Digital will operate a total of 2,174 Bitcoin mining machines with a combined computing power exceeding 230 PH\/s.<\/p>\n<p>The new machines come in addition to the 1,954 mining machines they already have in operation in the US states of Pennsylvania and Tennessee.<\/p>\n<p>The announcement also said the purchases align with BTC Digital\u2019s commitment to developing blockchain-related businesses in North America, encompassing crypto mining, mining farm construction, mining pool operation, and data center management.<\/p>\n<p>\u201cWe are excited to see the progress we have made so far and the potential for our cryptocurrency business to grow in the long term, Alan Peng, CEO of BTC Digital, said in a statement, while adding:<\/p>\n<p>\u201cWith 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.\u201d\n<\/p>\n<h2>Previous English teaching business in China<\/h2>\n<p>\nFormerly known as Meten EdtechX Education Group, BTC Digital recently transitioned from being an English teaching business in China to Bitcoin mining in the US.<\/p>\n<p>The website BTC Digital\u2019s announcement links to still presents the company name as Meten, which it calls \u201ca leading general English language training service provider in China.\u201d<\/p>\n<figure id=\"attachment_127629\" aria-describedby=\"caption-attachment-127629\" style=\"width: 1280px\" class=\"wp-caption alignnone\"><figcaption id=\"caption-attachment-127629\" class=\"wp-caption-text\">Source: Screenshot from Meten website<\/figcaption><\/figure>\n<p>BTC Digital is publicly traded in the US, listed on Nasdaq under the ticker BTCT and with a market capitalization of just $3.35 million.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/chinas-btc-digital-bolsters-bitcoin-mining-capability-with-220-units-crypto-mining-making-a-comeback.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Adobe \/ Photocreo Bednarek 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, bolstering its Bitcoin mining capabilities. According to an announcement from the firm, the machines, which are set to be delivered and operational by the end [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":81318,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-81317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China&#039;s BTC Digital Bolsters Bitcoin Mining Capability with 220 Units \u2013 Crypto Mining Making a Comeback? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Adobe \/ Photocreo Bednarek BTC Digital, a Chinese Bitcoin mining firm with operations in the US, has announced the purchase of 220 Bitmain\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=81317\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China&#039;s BTC Digital Bolsters Bitcoin Mining Capability with 220 Units \u2013 Crypto Mining Making a Comeback? 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