Powerbridge Technologies to start mining bitcoin and Ethereum in Hong Kong

Powerbridge Technologies to start mining bitcoin and Ethereum in Hong Kong

Nasdaq-listed Chinese blockchain company Powerbridge Technologies will start mining two leading cryptocurrencies in Hong Kong using green energy. This is according to a press release.

The company will deploy 2,600 devices - 600 for bitcoin mining and 2,000 for Ethereum mining. They will provide a hash rate of 60 PH/s and 1,000 GH/s respectively.

In August, Powerbridge Technologies, whose core business is software and blockchain application development, announced plans to get into cryptocurrency mining.

In the same month, the Chinese company signed a deal with Cryptodigital Holdings to buy 5,600 bitcoin and Ethereum mining devices. According to the release, the shipment included 2,000 ASIC digital gold miners and 3,600 ETH mining rigs.

As a reminder, Chinese internet firm The9 Ltd announced its entry into the mining industry in January.

Analysts estimated that the Nasdaq-listed mining companies had amassed more than 20,459 BTC worth more than $1.1 billion.

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