BIT Mining Limited, a US-listed crypto mining company, announced Wednesday that it had reached an agreement with Viking Data Centers, LLC in order to jointly invest in the development of a crypto mining span Data-v-2c67a6d3 Data Center Ohio. According to the press release, the company entered into a Membership Interest Buy Agreement with Viking Data Centers in order to build an infrastructure that can produce up to 85 megawatts.
BIT Mining stated that the development of the crypto-mining site is and will be complete by February 2022. The deal also included a $12.1 million investment in the Ohio Mining Site. The deal will give the US-listed company 51% equity in the mining data centre, and Viking Data Centers 49%.
“BIT Mining has been executing a solid plan to invest, acquire, and develop high-quality resources in mining around the globe as part of its growth strategy. As of the date this press release was issued, 1,016 mining equipment had been shipped to the United States. The company intends to continue expanding its efforts and accelerate its global development going forward,” the announcement stated.
The three-phase deployment of the data center’s building is planned. The first phase will consist of building a total capacity capacity of 11 MW. The second and third stages will each have 39 MW and 35 respectively. BIT Mining stated that the first, second, and third phases of the deployment are expected to be complete by October 15, 2021 and November 15, 2021 respectively.
Recent Crypto Mining Industry Developments
Furthermore, in other announcements within the crypto mining sphere, Iceland-headquartered Genesis Digital Assets, a major commercial Bitcoin mining company, completed another massive strategic funding round, raising $431 million from venture capital investors.
Paradigm led the round and was joined by many big names in crypto and finance, such as NYDIG and Stoneridge.