#$BTC
On November 3, BTC Digital, a China-based company, announced a significant expansion of its Bitcoin mining operations by acquiring 220 new Bitcoin mining units.
This strategic move has boosted their total machine count to 2,174, with a formidable computing power of over 230 petahashes per second (PH/s).
These newly acquired mining units are expected to be fully operational by the end of the month.
The acquisition was executed through agreements with “two unaffiliated third parties,” involving the procurement of Bitmain Antminer S19j Pro units.
In exchange for these mining units, BTC Digital issued 276,572 shares of its ordinary company stock, with a total valuation of $968,800.
It’s worth noting that BTC Digital underwent a name change in August, transitioning from Meten EdtechX Education Group to better align with its current business operations.
BTC Digital is described on the Nasdaq-listed company’s website as a prominent provider of general English language training services in China.
The company boasts a network of learning centers across the nation and offers both online and metaverse-based training programs. #BTC $
