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