Bit Mining Moving 3,000 Bitcoin Mining Machines to Kazakhstan Following China Crackdown

Shenzhen-based Bit Mining has started shipping bitcoin mining machines to Kazakhstan as the Chinese government cracks down on bitcoin mining operations in the country.

• Bit Mining Ltd., a mining company based in Shenzhen, announced Monday that “it had successfully delivered its first batch of mining machines to Kazakhstan.”
• The company explained that bitcoin mining machines will be delivered to Kazakhstan in three batches.
• The first batch consists of “320 mining machines with a theoretical maximum total hash rate capacity of 18.2 PH/s,” Bit Mining claims, noting that they are “expected to be deployed and in operation by June 27.” The mining company added:

A second and third batch, totaling 2,600 mining machines with a theoretical maximum total hash rate capacity of 102.3 PH/s, are expected to be delivered to Kazakhstan before July 1, 2021.

• Bit Mining expects to ship its remaining mining machines to overseas data centers over the coming quarters.
• The move followed the Chinese government cracking down on bitcoin mining operations in the country. The State Grid Sichuan Electric Power Company sent a notice to Bit Mining’s indirectly held subsidiary, Ganzi Changhe Hydropower Consumption Service, on June 19 informing the company that its power supply would be suspended starting on June 19.
• The Ganzi Changhe data center subsequently suspended its operations.
• According to Bit Mining’s announcement, the mining operations in Sichuan account for approximately 3% of the company’s total revenue in May.
• Xianfeng Yang, CEO of Bit Mining, commented:

We are committed to protecting the environment and lowering our carbon footprint. We have been strategically expanding our operations overseas as part of our growth strategy.

• Bit Mining announced an investment in a cryptocurrency mining data center in Kazakhstan in May. It has also invested in a crypto mining data center in Texas.