🇨🇳⛏️ Chinese electric vehicle company Kaixin has acquired a Bitcoin mining company in the Middle East.

Kaixin Holdings plans to engage in#Bitcoinmining in the Middle East to take advantage of reliable and cost-competitive energy.

The company announced that it will continue its core business in the automotive sector, while bringing its expertise in sustainable operations to its new cryptocurrency mining subsidiary.

The acquisition could also mark a gradual return of China to the cryptocurrency sector after a 2021 crackdown that banned Bitcoin mining.