Crypto CurrenciesBIT Mining Limited to Invest in Cryptocurrency Mining Data Center

PRNewswire PRNewswireMay 20, 20213 min

BIT Mining Limited (NYSE: BTCM) (“BIT Mining” or the “Company”), 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.

BIT Mining is devoted to protecting the environment and lowering its carbon footprint. The Company’s hydroelectric cryptocurrency data centers in Sichuan ProvinceChina 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, BIT Mining intends to do its part, fulfill its obligations to achieving carbon neutrality and proactively seek out additional high-quality mining resources overseas.

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