Shenzhen-based Bit Mining is planning to construct and operate a 100 MW crypto-mining data center in Kazakhstan. The project will be implemented in partnership with two local companies that will also provide the enterprise with an array of services. The total amount of the investment will exceed $9 million.
Kazakhstan to Host New 100 MW Crypto Mining Facility
Bit Mining announced this week it has entered into a binding investment term sheet with a Kazakhstani entity. The two companies will cooperate on the construction of a new crypto mining facility in the Central Asian republic. The Chinese firm will have an 80% equity interest in the new Kazakhstan Mining Data Center, with the remaining 20% held by its local partner.
The bitcoin farm will launch with a power capacity of 20 MW and when fully operational it’s expected to reach a total capacity of 100 MW. Bit Mining said it’s going to invest 60 million Chinese yuan (around $9.33 million) into the joint project.
The Chinese company has also concluded two service agreements for its mining equipment, one of which with its main partner and a second one with another company from Kazakhstan. They will provide a range of needed services including on-site device hosting, broadband network support, security monitoring, server management, and maintenance. The agreements will come into force on July 1, 2021.