BIT Mining, a cryptocurrency mining firm listed on the New York Stock Exchange, has announced steps to expand its mining operations with new acquisitions in Ethiopia.
The company revealed on Dec. 9 that it had completed the first phase of its plan to acquire data centers and Bitcoin (BTC) mining equipment in Ethiopia.
In its initial announcement, BIT Mining said it planned to acquire up to $14.2 million worth of data centers and BTC mining machines. The deal will see the miner get an additional 51-megawatt in data centers as well as 17,869 Bitcoin mining machines. The first phase of the deal is done, BIT wrote.
The cash-and-stock transaction included $2.265 million in cash and 369,031,800 Class A ordinary shares to acquire a 35 MW crypto mining data center. BIT Mining also added 17,869 Bitcoin mining machines to its operations.
The next phase of the expansion is expected to conclude in March or April 2025, focusing on acquiring the remaining data centers. The deal should finalize with the new data centers operational by late Q1 or early Q2 2025. If successful, the company plans to issue up to 45,278,600 BTCM shares to fund the expansion.
Read more: Ethiopian Bitcoin mining gets 600MW boost as country signals support for industry
Earlier this month, BIT Mining announced that it would continue to merge mine Litecoin (LTC) and Dogecoin (DOGE). The company attributed this to the huge profits that the firm netted from self-mining both LTC and DOGE in the past year.
As of November 27, 2024, BIT had mined a total of 84,485.42 LTC and 227,908,250.38 DOGE.
“The recent rally in Litecoin and Dogecoin, fueled in part by Elon Musk’s influence and the changing regulatory landscape in the US after the Trump win, has had a major impact on mining profitability,” Dr. Youwei Yang, BIT Mining’s chief economist and vice president of mining, said in a statement.
LTC and DOGE prices have surged 73% and 117%, respectively, in the past 30 days. Bitcoin, which recently surpassed $100,000, gained 31% during the same period and has risen 126% over the past year. Meanwhile, BTCM stock climbed 29% in the past week.
You might also like: HIVE Digital shares climb 6% as miner targets 2% of Bitcoin network
where can i buy generic clomid tablets can i get cheap clomid tablets get cheap clomid prices cost cheap clomid for sale how can i get clomiphene clomiphene for sale australia order clomiphene pill
This is the tolerant of enter I turn up helpful.
This is the description of topic I get high on reading.
order generic zithromax 500mg – buy cheap zithromax cost metronidazole 200mg
order rybelsus 14 mg – order rybelsus 14mg pills cyproheptadine canada
domperidone tablet – order flexeril 15mg for sale cyclobenzaprine ca
order inderal pill – order plavix 75mg online order methotrexate 5mg online cheap
augmentin 1000mg for sale – https://atbioinfo.com/ buy generic acillin online
oral esomeprazole – https://anexamate.com/ generic nexium 20mg
buy cheap generic warfarin – blood thinner order cozaar 50mg generic
order meloxicam 7.5mg generic – https://moboxsin.com/ mobic 15mg oral
order prednisone sale – https://apreplson.com/ buy prednisone 40mg
how to buy amoxicillin – combamoxi.com buy amoxicillin generic
order fluconazole 100mg sale – this fluconazole 200mg oral
buy cenforce 50mg online cheap – this buy cenforce pills for sale
cialis online without prescription – on this site how much is cialis without insurance
order ranitidine 150mg online cheap – https://aranitidine.com/ ranitidine order
cialis 20 mg price walgreens – https://strongtadafl.com/ cialis overnight shipping
This is the gentle of scribble literary works I truly appreciate. site
buy viagra online mastercard – click viagra for sale in the uk
The reconditeness in this piece is exceptional. azithromycin price
I am in truth enchant‚e ‘ to coup d’oeil at this blog posts which consists of tons of useful facts, thanks representing providing such data. https://ursxdol.com/get-metformin-pills/
Thanks for sharing. It’s acme quality. https://prohnrg.com/
I’ll certainly bring to read more. https://aranitidine.com/fr/acheter-cenforce/