Bitcoin
Chinese Telecom Provider Coolpad to Spend $13.5 Million on Bitcoin Mining Rigs for North America – DL News
- Chinese telecommunications provider Coolpad will deploy mining rigs in North America.
- The purchase follows a previous plan to invest in Bitcoin-related companies.
Coolpad Group, a Chinese telecommunications provider based in Shenzhen and listed on the Hong Kong Stock Exchange, said in a archiving which allocated around US$13.5 million to purchase Bitcoin mining rigs.
Coolpad said it plans to acquire 2,700 Bitcoin mining servers, without specifying the manufacturer.
He said he will buy the platforms Hong Kong-based JingYun smart technology will be deployed in North America.
The investment will increase Coolpad’s current computing power from 873,000 TH/s to about 1,504,800 TH/s, it said. This story was first reported by Crypto.News.
Coolpad is mainly engaged in the production and sale of mobile phones and accessories, providing wireless application services and renting properties.
Still, since the second half of 2023, the company said it has been actively pursuing opportunities in the “Web 3.0 digital currency business.”
Coolpad started its move into crypto in May with $28 million investment plan to buy shares of crypto asset companies listed on Nasdaq.
The company said it intends to acquire shares in companies such as, but not limited to, CleanSpark, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETF, Grayscale Bitcoin Trust and Hashdex Bitcoin Futures ETF.
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