The Chinese firm called Zhongjia Bochuang (ZJBC) which is a publicly-traded information and communications firm announced plans to buy around £111,000,000 worth of Bitcoin mining hardware. the firm has a current market cap of £646,141,500. The firm plans to buy all the hardware within the next 2 years, stating the following:

“The scale for the first year will be no less than 20,000 units with the first batch to be delivered by May 2021 with no less than 2,000 units.”

According to reports, MicroBT have disclosed that the 2 parties have already signed a memorandum of understanding. Furthermore, ZJBC filings have mentioned that about 2.8% of the firm’s equity is connected to the Chinese state capital.

Zhongjia Bochuang (ZJBC) are not actually new to bitcoin mining operations. The firm wrote to answer their shareholder’s inquiries:

“Our fully-owned subsidiary Changshi Telecommunication has been involved in building and maintaining blockchain computing facilities since 2018 and brought in over 50 million yuan [$7.6 million] in revenue in 2018 already.”

The Chinese market has recently become eager to invest in Bitcoin ventures and this firm is just one of many that are taking part.

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