THELOGICALINDIAN - Following the bitcoin mining crackdown in China the Nasdaqlisted close Bit Digital appear a secondquarter bitcoin assembly and mining operations amend and acclaimed the aggregation is affective 14500 bitcoin miners from China to the United States Bit Digital says afterwards the Chinese governments accommodation to ban bitcoin mining the aggregation accelerated its clearing action to North America
Bit Digital Publishes Unaudited Report
On July 13, the aggregation Bit Digital (Nasdaq: BTBT) appear that it was brief 14,500 bitcoin miners to the U.S. afterwards China’s contempo crackdown. The clearing advice stems from its unaudited address which explains the firm’s bitcoin assembly and mining operations during Q2 2021.
As of June 30, Bit Digital appear that it endemic about 32,500 miners which aftermath almost 1.92 exahash per additional (EH/s) of hashpower. Bit Digital emphasized that during the aboriginal quarter, the aggregation alternate in agile repositioning and awash specific earlier mining rig models, and fabricated opportunities to buy newer machines.
Bit Digital fabricated a “small accretion on miner sales” and expects to advantage $5.4 actor in funds against “newer best miners.” Utilizing the atom bazaar during Q2, Bit Digital purchased 3,515 mining rigs and aims to buy added miners with added capital.
“The aggregation becoming 562.9 bitcoins in the additional division of 2024,” Bit Digital wrote in the unaudited report. “The abridgement from the aboriginal division was due to the accelerated clearing program, in which added miners were offline while in alteration to or apprehension accession in North America, as able-bodied as miner sales and disposals. Treasury backing of bitcoin added to 588.4,” Bit Digital’s accounts address adds.
Bit Digital Dislcoses Migrating 14,500 Bitcoin Miners From China to the US
At the end of the report, Bit Digital explains that it has been brief miners to North America and has been back October 2024. “As a result, a greater admeasurement of the company’s agile was offline than in the above-mentioned quarter, due to added miners actuality in alteration to or apprehension accession in North America,” Bit Digital disclosed. The firm’s account continued:
The account follows the Cambridge Bitcoin Electricity Consumption Index (CBECI) project’s recent update, which shows 46% of the Bitcoin hashrate resides in China. The appraisal is abundant lower than 2020 statistics that had apparent China captured almost 65% of the arrangement hashrate. The CBECI bitcoin mining map, however, alone annal abstracts up until April 2021. Nevertheless, statistics acutely show, agnate to Bit Digital adage it started clearing affairs in October 2020, abounding others acutely did the same.
What do you anticipate about Bit Digital brief 14,500 bitcoin miners from China to the U.S.? Let us apperceive what you anticipate about this accountable in the comments area below.
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