Chinese telecommunications giant Coolpad is investing 41.5 million $ in mining and crypto companies.#Decryptreported this this week.

Of this amount, 13.5 million $ will be spent on the purchase of mining equipment in North America, and 28 million $ will be spent on investments in crypto companies and crypto ETFs listed on Nasdaq.  In particular, CleanSpark, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETF, Grayscale Bitcoin Trust, Hashdex Bitcoin Futures ETF.#Coolpadplans to purchase 2,700 BTC mining servers from Hong Kong-based JingYun Intelligent Technology, increasing the current mining computing power from 873,000 TH/s to approximately 1,504,800 TH/s.

The move into Bitcoin mining marks a significant shift for Coolpad, which has traditionally focused on the highly competitive smartphone market. 

In China itself, let us remind you that cryptocurrency has been banned since September 2021. But this does not prevent large companies from working in the niche. For example, China's West Data Center Service PLC is making a major investment in BTC mining in Ethiopia, a country that could become an industry leader in Africa thanks to its cheap electricity. In total, the Ethiopian government currently has electricity supply agreements with 21 miners, 19 of them from China.