Bit Digital Transported Bitcoin Mining Devices from China to the USA

Bit Digital transported 14500 Bitcoin mining devices from China to the USA

Bit Digital, one of the mining companies that had to switch to the North American region due to Chinese bans, published a report on the subject. It was learned that the company’s Bitcoin production decreased by half in the second quarter compared to the first quarter, while 5.4 million dollars were obtained from the sale of old mining devices. With this income, the company also started purchasing new technology devices.

Bit Digital, a US-based and Nasdaq-listed Bitcoin mining company, has released a report regarding the move from China to the US for the second quarter of this year. As of June 30, the company announced that 70.8 percent of the mining fleet in terms of hash rate capacity, some of them have been established, some of them are still in transition, and some of them are about to be established.

Bit Digital stopped its operations there as of June 21 due to mining bans in China and accelerated its immigration program to North America. The company is expected to complete its entire transition by Q3.

$5.4 million was obtained from the sale of old technology devices.

Bit Digital has 32 thousand 500 devices as of June 30, and the total hash rate is 1.92 EH/s, which has decreased by 0.34 EH/s due to fleet transport. In the first quarter, the company had 41,000 mining devices. The company plans to buy new devices with approximately $5.4 million from the sale of old devices. On the other hand, the company has started some of these purchases. In the second quarter, around 3500 devices were purchased from the spot market, and this figure is expected to increase by the end of the quarter.The number of Bitcoins mined has also decreased.

Bit Digital, which produced 1,013.4 Bitcoins in the first quarter, and 562.9 Bitcoins in the second quarter, because both the transition process and the machines reaching North America are waiting for installation.

While the mining company shipped 14,500 devices to the US during the second quarter, it also signed two ‘hosting’ agreements in the North American region for an additional 60 MW of power capacity.

SEE ALSO: $50M Investment in Bitcoin Mining Company BIT Mining

Share this article

Caroline Tetra

Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

Revolut Received an Investment of $ 800 Million.

Thu Jul 15 , 2021
London-based giant digital banking application Revolut received a full $800 million investment. The company that made the most investment in the funding round was the technology giant Softbank, which has recently invested large sums of money in the crypto money sector. Revolut, a UK-based digital banking application with a market […]
Revolut Received an Investment of $ 800 Million.
Subscribe to Our Newsletter Don't miss the latest news!

Enter to get a chance to win 100$ every week!