BTC Digital Boosts Mining with Bitmain Antminer

Bitmain Antminer

BTC Digital, a Bitcoin mining company based in China and operating in the United States, recently announced the acquisition of 220 Bitmain Antminer S19j Pro Bitcoin mining machines. This acquisition significantly enhances BTC Digital’s Bitcoin mining capacity.

The company plans to deliver and fully operationalize these machines by the end of November 2023. BTC Digital compensated the sellers with 276,572 ordinary shares, valued at $968,800.

With the acquisition of new Bitcoin mining machines, BTC Digital’s total number of machines has increased to 2,174. These machines have a combined computing power of over 230 PH/s. BTC Digital already operates 1,954 mining machines in Pennsylvania and Tennessee, and the new machines will supplement these existing ones. The company aims to strengthen blockchain businesses in North America through this acquisition.

BTC Digital aligns this purchase with its commitment to expanding blockchain-related businesses in North America, including crypto mining, mining farm construction, mining pool operation, and data center management.

Alan Peng, CEO of BTC Digital, expressed his excitement about the progress they have made and the potential for their cryptocurrency business to grow in the long term. He added, “With the recent purchases and our plan to further increase the number of mining machines, we aim to continue improving our financial conditions and maximizing value for our shareholders.”

BTC Digital, formerly known as Meten EdtechX Education Group, recently shifted its focus from an English teaching business in China to Bitcoin mining in the US. However, the company website still refers to the brand as Meten and describes it as “a leading general English language training service provider in China.”

BTC Digital is a publicly traded company in the US, listed on Nasdaq under the ticker BTCT, with a market capitalization of just $3.35 million.