SHENZHEN, China, May 19, 2021 /PRNewswire/ -- BTCmining Limited a leading cryptocurrency mining enterprise, today announced that it has entered into a binding investment term sheet (the "Term Sheet") with Dory Creek, LLC ("Dory Creek"), a wholly-owned subsidiary of Bitdeer, Inc. to invest in a cryptocurrency mining data center in Texas (the "Texas Mining Center").

 

Pursuant to the Term Sheet, the Company will invest a total amount of US$25.74 million and jointly construct and operate the Texas Mining Center with Dory Creek. The total power capacity of the Texas Mining Center is 57.2MW, with more than 85% of its power generated by clean and low-carbon energy. As the electricity supply is further optimized in Texas, the Texas Mining Center will use higher proportions of electricity generated by clean energy.

 

BTCmining is devoted to protecting the environment and lowering its carbon footprint. The Company's hydroelectric cryptocurrency data centers in Sichuan Province, China run 100% on clean energy. With the arrival of the rainy season in Sichuan Province, the company's hydroelectric cryptocurrency data centers can now fully utilize the excessive water flows once abandoned due to insufficient electricity demand. Through its business operation, the Company can contribute to the local economy and provide local employment opportunities. Upon completion of the Texas Mining Center, over 98% of the Company's total power capacity would be generated by clean and low-carbon energy. Going forward, BTCmining intends to do its part, fulfill its obligations to achieving carbon neutrality and proactively seek out additional high-quality mining resources overseas.

 

 

About BTCmining

 

BTCmining is a leading technology-driven cryptocurrency mining company with a long-term strategy to create value in the cryptocurrency industry. Its business covers cryptocurrency mining, mining pools, and data center operations. The company owns the blockchain browser BTC.com and the comprehensive mining pool business operated by BTC.com, providing multi-currency mining services including BTC, BCH, ETH, and LTC. The company also signed a final agreement to acquire 7-nanometer cryptocurrency mining machine manufacturer BeeComputing to complete the company's vertical integration with its supply chain, increase self-sufficiency and enhance competitive position.

 

forward-looking statements

 

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expect," "anticipate," "future," "intend," "plan," "believe," "estimate," "target," "go forward." ”, “outlook” and similar statements. Such statements are based on management's current expectations and current market and operating conditions and involve events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the company's control scope, which could cause the Company's actual results, performance or achievements to differ materially from those contained in the forward-looking statements. Important factors that could cause BTCmining's actual results to differ materially from those indicated in the forward-looking statements include: the development and operation of BTC.com, and the execution of BTCmining's growth strategy and anticipated benefits. Additional information regarding these and other risks, uncertainties or factors is included in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.