• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight

BIT Mining Picks Kazakhstan As New Mining Base

Anifowoshe Ibrahim
by Anifowoshe Ibrahim
4 years ago
·
Posted in Bitcoin Mining
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

BIT Mining, a cryptocurrency mining company that recently stated it will be expanding outside of China, aims to buy 2,500 Bitcoin miners for deployment in Kazakhstan.

BIT Mining Goes To Kazakhstan

BIT Mining announced on Wednesday that it had agreed to buy 2,500 Bitcoin (BTC) mining equipment for $6.6 million. The company has already installed 3,819 BTC miners in Kazakhstan data centers, with another 4,033 on the way. The addition of the recent mining acquisition is projected to enhance BIT Mining’s hash rate capacity to around 458 petahashes per second once everything is in place.

The company dispatched its first consignment of mining machines to the central Asian country in June, saying at the time that it expected to deliver another 2,600 before the start of July.

Based in Shenzhen, it has stated that it intends to expand its activities outside of China in reaction to the government’s recent anti-mining crackdown. Following the decision by the State Council’s Financial Stability and Development Committee, which restricted BTC mining due to financial risk concerns, many Chinese businesses have reportedly shut down.

Following its decision in May to build and manage a data center in Kazakhstan, the New York Stock Exchange-listed company recently received $50 million in a private funding to expand its international data center presence.

Related article | Bitcoin Hash Rate Recovers To 2020 Levels, A Long Ways To Go

As the regulatory environment in China appears to become less favorable, several mining companies, such as BIT Mining, have been looking for other nations to conduct operations. The crackdown could be an indicator that the government is testing the waters for a bigger crypto prohibition, according to BTC maximalist and Ballet CEO Bobby Lee, who recently told Cointelegraph that the crackdown could be an indication that the government is testing the waters for a larger crypto ban. OKEx and Huobi both plan to dissolve Chinese-based corporate organizations, suggesting that crypto businesses are picking up on the regulatory backlash.

While some of the miners forced out of China may seek refuge in Texas, Kazakhstani officials appear to be courting cryptocurrency enterprises by permitting local banks to register accounts for cryptocurrency transactions. Last month, Canaan, a major mining company, announced that it had begun mining BTC in Kazakhstan. Despite this, or perhaps as a result of the rush to create new operations, the country has announced that greater taxes would be imposed on miners beginning in January.

BIT Mining also made a $25 million investment in May to build a mining facility in Texas. The company has maintained that it is monitoring current conditions in the market for cryptocurrency mining machines and will consider cost-efficient mining machine acquisitions on an opportunistic basis.

BIT Mining

BTC/USD retests $40k. Source: TradingView

Related article  | Why Bitcoin Doesn’t Need Musk, Saylor, Or Anyone Else

Featured Image from Getty Images, Charts from TradingView
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Anifowoshe Ibrahim

Anifowoshe Ibrahim

Follow

Full Profile

Related Posts

Pakistan Taps Surplus Power to Enter Bitcoin Mining Race—Here’s What’s at Stake

Pakistan Taps Surplus Power to Enter Bitcoin Mining Race—Here’s What’s at Stake

4 months ago
Bitcoin

SEC Rules Bitcoin Mining Activities Are Not Securities Under US Law

5 months ago
US Loosens Grip: Thousands of Seized Bitcoin Miners Released

US Loosens Grip: Thousands of Seized Crypto Mining Units Finally Released

5 months ago
Bitcoin Net Taker Volume Signals Local Bottom – Expert Analysis

Bitcoin Net Taker Volume Signals Local Bottom – Expert Analysis

6 months ago
Bitcoin

Cathie Wood Predicts Bitcoin Boom: ‘More Scarce Than Gold,’ Eyeing $1 Million By 2030

8 months ago
Bitcoin price

Bitcoin Long-Term Holders Complete Largest Market Sell-Off Since 2021, Is The Top Here?

8 months ago
Please login to join discussion

Premium Sponsors

Press Releases

  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    5 hours ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    5 hours ago
  • miner

    Cardano (ADA) Market Outlook: Long-term Potential Passive...

    6 hours ago
  • etnminer

    How to Play to Earn Crypto in 2025: Discover 6 Most...

    11 hours ago
  • miner

    BAY Miner Cloud Mining App Launches with ETH and BTC Users...

    12 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.