The Nasdaq-listed Chinese blockchain company Powerbridge Technologies has signed an agreement with Cryptodigital Holdings to purchase 5,600 mining devices for two leading cryptocurrencies.
According to пресс-релизу, deliveries are expected to begin in October 2021.
The batch includes 2,000 ASIC miners for mining digital gold and 3,600 Ethereum mining rigs.
It is expected that after deploying the purchased Bitcoin miners, including Antminer S19, S19 Pro and others, they will deliver a hash rate of 200 PH/s.
Mining devices for the second-largest cryptocurrency based on high-performance GPUs, including RTX 3070 and RTX 3060 Ti, are expected to generate a total computational power of 1,700 GH/s.
The company’s President and Chief Financial Officer Stuart Lor said the company will continue investing in mining hardware for the two largest cryptocurrencies and increase its own hash rate across their networks.
Powerbridge, whose core business is software development and blockchain applications, announced plans to commence mining on August 12.
Following the news, the company’s shares jumped from the close price of $1.27 on August 11 to $2.10 — more than 65%. As of writing, pre-market trading values the stock at $1.47.
Earlier in January, the Chinese internet company The9 Ltd announced its entry into the mining industry. Within two days after the announcement, the company’s Nasdaq-listed shares rose by 140%.