Bit Digital, a bitcoin mining company, has signed an agreement with Bitmain to purchase 10,000 bitcoin (EXANTE: Bitcoin) mining ASIC's for an undisclosed price. The firm said in a press release the purchase is expected to increase its hashrate by over 1.0 EH/s.
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"By contracting for these Bitmain units, we have opened a new channel in our procurement strategy, diversifying our access to miners," said Bryan Bullett, Bit Digital CEO.
The purchase agreement comes after Bitmain revealed plans to stop selling its devices to Chinese miners. Particularly, the company plans to move most of its production from the city of Shenzhen, located near Hong Kong, to other countries. The company's vice president, Kevin Zhang, said Malaysia and Indonesia are among the options being considered by the company to relocate its production.
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