Mining company Bit Digital bought ASIC for $ 13 million
Bit Digital buys miners for $ 13 million in exchange for shares
Bit Digital intends increase the production of military-technical cooperation
In the first half of the year, the company announced a record profit from production MTC
International consortium news organizations, developing transparency standards.
Shares in exchange for ASIC
Bit Digital, a Nasdaq listed bitcoin mining venture headquartered in New York, has announced it intends to issue 4,344,711 common shares per price $ 3.20 per share. The attracted investments totaling 13 903 088 are planned to be spent on the purchase of new generation bitcoin miners.
After the deal is closed and the shares are listed on the Nasdaq, the company’s total hash power will increase about at 1000 Ph / s from 1250 Ph / s to 2250 Ph / s. The company started mining bitcoins in February 2020 of the year. By June 30, 2020, the company’s hash power was Total 310 Ph / s, and by September 30, 2020 index rose to 1250 Ph / s.
First batch of 2000 earlier purchased M21 will be shipped to the United States in November of this years and expected, will be installed on the hosting company Compute North by the end of December 2020. With magnification numbers of miners on farms in North America Bit Digital will be able to rebalance the cost structure and territorial distribution of equipment and mine more bitcoins.
“We are very pleased to announce these agreements and the issuance of shares in exchange for Bitcoin miners that yet will further strengthen our position among core companies in the bitcoin mining industry in terms of operational hashing capacity. The company’s performance indicators are expected to increase significantly in December 2020 due to the deployment of new miners and an increase in the hash rate, “said Erke Huang, Chief Financial Officer of the company..
Bit Digital Reaches Record Profit From Bitcoin Mining
Previously portal BeInCrypto reported that Bit Digital has summed up the results of the first half of the year. According to presented data, profit from production bitcoins in the first 6 months exceeded $ 10 million.
“As of the date of the report, 22,869 miners have generated 949.51 bitcoins, which is approximately 10.08 million dollars”, – said in the message.
The company also sold part of its P2P lending and car rental business in the PRC and concentrated exclusively on mining cryptocurrencies. At the end of July, income from bitcoin mining amounted to 690 000 dollars.
It should be noted that America significantly increases his share in the world bitcoin mining. Back in June, BeInCrypto reported that the American blockchain-Core Scientific signs agreement to buy 17,000 farms for mining bitcoin from one of the leading manufacturers of mining equipment – Bitmain. According to an official press release, the company has acquired 17,595 S19 Antminers ASICs. Core Scientific claims to be the largest quantity mining farms acquired by one company.
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