Bitmain is planning to deploy 200,000 new mining rigs in China

21 Mar, 2019
by David Borman
Mining
Bitmain is planning to deploy 200,000 new mining rigs in China

It is being reported by Coindesk that Bitmain is gearing up to start operating 200,000 mining rigs in China this summer to capitalize on the cheap hydroelectric energy from the country's rainy season.

Though the extra rainfall will not arrive until May, Bitmain is already making deals with farms across China in order to prepare for the influx of cheap energy from hydroelectric dams.

The firm is planning to mostly use its latest equipment, such as the AntMiner S11 and S15. Though the company could be selling this product, it is believed that the company expects to bring in over $7 million a month by using the miners in conjunction with the low cost electricity.

It is unclear at this time what coins are going to be mined, however the company is undoubtedly counting on a return of the bull market. With overhead so low, it is plausible any coin could be a winner.

Will this gamble play out well for Bitmain? Stick with Chepicap for all updates!

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Read more about:BitmainMiningChina

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