Powercrypto Holdings, a subsidiary of blockchain software provider Powerbridge Technologies, has announced the launch of a sustainable Bitcoin (BTC) and Ether (ETH) mining initiative in Hong Kong.
The company plans to distribute a total of 2,600 high-end miners, including 600 BTC miners operating at 60 PH/s, and 2,000 ETH miners using 1,000 GH/s of hashing power.
According to the announcement, Powercrypto’s ultimate goal in opening this project is to increase the hash rate of BTC and ETH in the North American and Asian markets.
Analysis showed that the current Bitcoin hash rate, measured in terach units per second, is 150.29 million on average over a seven-day period. It is well above a two-year low of 84.8 in June of this year.
Stuart Loehr, President of Powerbridge Technologies, shared the company’s expectations for the future of this initiative, both financially and environmentally.
“We are very excited about our launch and positioning in the global crypto mining space. We expect our high-performance green mining fleets to significantly increase our revenue.”
On the topic: Hong Kong property owners are renting to cryptocurrency exchanges after clarifying regulatory requirements.
The Hong Kong Monetary Authority (HKMA) on Monday published a white paper requiring years of research and development to assess the reliability of the central bank’s digital currency, often referred to as the Hong Kong Digital Dollar (e-HKD).
The initiative was part of Hong Kong’s Fintech Vision 2025, a technology initiative to develop the country’s infrastructure in line with modern requirements. Despite encouraging innovative practices in this area, national regulators have a negative attitude towards digital assets. Hong Kong is currently under political control as a Special Administrative Region of China.