According to BlockBeats, Coolpad Group, a Hong Kong-listed company, announced on June 14th that it has signed a purchase contract for equipment in June 2024. The total cost of the contract is $13,583,700, equivalent to approximately HK$106,089,000. The subject of the contract is 2,700 electronic calculation servers for cryptocurrency mining.
Coolpad Group stated that the existing computing power of the group is 873,000 TH/S. Upon completion of the purchase contract transaction, the computing power will increase to 1,504,800 TH/S. This significant increase in computing power is expected to enhance the group's cryptocurrency mining capabilities, thereby potentially increasing its revenue from this sector.
The purchase of these servers is a clear indication of Coolpad Group's commitment to expanding its operations in the cryptocurrency mining sector. This move is likely to have a significant impact on the company's future growth and profitability. However, it is important to note that the success of this venture will largely depend on the future market conditions of the cryptocurrency industry.