Powercrypto Holdings, a subsidiary of the blockchain software provider Powerbridge Technologies, starts mining cryptocurrencies, in particular Bitcoin (BTC) and Ethereum (ETH), in Hong Kong. These cryptocurrency operations will use environmentally friendly, green and sustainable energy. This announcement was made in a press release dated Friday, October 8, 2021
Powerbridge Technologies is a growth-oriented technology company primarily engaged in SaaS solutions and blockchain applications.
Launch of crypto mining in Hong Kong
Powerbridge Technologies plans to deploy a total of 2,600 high-powered mining rigs in Hong Kong, including 600 BTC mining machines that operate at a hash rate of around 60 PH / s. It also contains 2,000 ETH mining machines with a hash rate of around 1,000 GH / s.
According to the announcement, Powercrypto aims to increase the hash rates of BTC and ETH in the North American and Asian markets.
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Sean Wang, General Manager and Chief Technology Officer of Powercrypto, said, “Powercrypto is an important strategic move for the company to highlight our global presence in the crypto mining business. We will focus on improving our overall hash rate level in BTC and ETH mining by building mining fleets in North America and Asia. ”
In its global BTC and ETH mining, the company intends to focus on maximizing the use of carbon-free, clean energy flow. Stewart Lor, President of Powerbridge Technologies, commented, “We are very excited about our launch and positioning as a global presence in the cryptocurrency mining business. We expect that our powerful, environmentally friendly crypto mining fleets will significantly increase our sales. ”
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Powerbridge Technologies states that it plans to increase its Bitcoin miners with an expected capacity of 10,000 miners and an expected hash rate of 728 PH / S. In addition, according to the company, the proprietary KI / GPU operating system can support up to 100,000 ETH miners in operation.
Powercrypto Holdings: A subsidiary of Powerbridge Technologies
Powerbridge Technologies founded Powercrypto Holdings late last month, its new Singapore-based subsidiary for crypto mining and digital assets operations.
Powercrypto is focused on green, renewable energy powered crypto mining farms with its intended global operation. The announcement stated that the subsidiary is committed to becoming one of the most competitive Bitcoin and Ethereum mining companies. The President of Powerbridge Technologies believes that Powerbridge is well positioned to accelerate the growth of its crypto business and generate promising revenue from it.
BTC trading at $54.9K | Source: BTCUSD on TradingView.com
A few days ago, the company announced the appointment of Sean X. Wang as General Manager and Chief Technology Officer of Powercrypto Holdings. Mr. Wang, a blockchain professional, has been appointed to lead the operation and technology development of Powercrypto’s crypto mining business. He reportedly has extensive expertise in crypto mining and digital asset operations as he has managed and operated mining fleets of nearly forty thousand Bitcoin and Ethereum mining rigs.
Digital currencies in Hong Kong
Hong Kong has played a crucial role in the history of cryptocurrencies. It is the birthplace of some of the largest crypto companies in the world. Tether, the world’s largest stablecoin, was also launched here.
Hong Kong is a metropolitan area and special administrative region of China. As a result, unfavorable regulations have affected the digital asset space in the region. However, it has been trying to develop its central bank digital currency (CBDC), e-HKD, since 2017.
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