On Wednesday, the company Bit Mining Limited, formerly known as 500.com, announced it had made a binding investment in a cryptocurrency data mining center located in Texas. A $25 million binding investment is with Dory Creek, LLC as the two companies will build and operate a 57.2 MW mining facility powered by 85% low carbon energy.
Bit Mining Pledges $25 Million to Build Texas Mining Facility With Bitdeer
The Chinese company Bit Mining Limited has made a number of moves into the cryptocurrency mining industry after the business used to be dedicated to lottery operations. Back in mid-February, cryptomedia reported about Bit Mining when the company was called 500.com and the company announced it had acquired mining company Btc.com.
In April, the company revealed it had rebranded and Bit Mining Limited (NYSE:BTCM) also said it had acquired mining rig manufacturer Bee Computing. The partnership with Dory Creek, a wholly owned subsidiary of Bitdeer, was announced on May 19.
The two companies will invest $25.74 million to “cooperatively build and operate the Texas Mining Center.” The Shenzhen-based company highlighted in its announcement that business operations are focused on “lowering its carbon footprint” and “protecting the environment”.
“The Texas Mining Center’s total power capacity is 57.2MW, with more than 85% of its energy generated by clean, low-carbon energy,” announced Bit’s Texas Mining Center. “As electricity supply is further optimized in Texas, the Texas Mining Center will use a higher proportion of electricity generated by clean energy.”