March 29, 2024

Non-core companies are involved in bitcoin mining

The rising price of Bitcoin (BTC) continues to fuel interest in it from a variety of companies. Retailer of tea and baked goods Urban Teafrom China I decided to enter the crypto-mining business and created a new pilot project.

At the same time, local cryptominers canto lose its competitive advantage in the form of low costs for electricity

In his words, earlier the Chinese miners closedup to 80% of the world's cryptocurrency mining operations, but their share has dropped to 50%. In addition, Bloomberg reported that the executives are forced to transfer their business to other countries due to the inappropriateness of the regulators.

Welcome to Urban Tea, add what for"Critical and strategic entry into the blockchain and cryptocurrency mining" the company has hired a few specialists who have experience with this.

Director General of Urban Tea Yi Long saidwhat this step is done "to increase the value for the action of the directors, besides that, [before taking the decision]"

An analogous solution was adopted by the shipoxide giant SinoGlobal, which recently acquired a control package from the Nine-Chain Intelligent computer company at a cost of about 8.5 million dollars. The operator of the online sports lottery 500.com also announced its intention to acquire a business to extract bitcoins from BTC.com from Bitmain co-founder Jihanga.

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