A Chinese Bitcoin mining firm has delivered the first machines to Kazakhstan.
Following the suspension of its Sichuan operations, the Chinese bitcoin mining firm BIT Mining delivered its first batch of 320 machines to Kazakhstan.
- The publicly traded company (NYSE: BTCM) announced Monday that it expects to deliver another 2,600 machines before the end of July.
- The remainder of the company's machines will also be shipped overseas.
- The already shipped mining machines have a theoretical maximum hash rate capacity of 18.2 PH/s.
- The relocation to Kazakhstan came after BIT Mining received notice from the state energy regulator on June 19 that the power supply to its Sichuan data centre would be suspended.
- In May, BIT Mining's data centres in Sichuan contributed roughly 3% of total revenue.
- Companies are looking to relocate as a result of China's new restriction on cryptocurrency mining. BIT Mining has also made a $25 million investment in a new facility in Texas, in addition to Kazakhstan.