Chinese bitcoin miner BIT Mining delivered its first batch of 320 machines to Kazakhstan after its operations in the Chinese province of Sichuan were suspended.
- The publicly traded company (NYSE: BTCM) expects to deliver another 2,600 machines before the start of July, it said in an announcement Monday.
- The company's remaining machines will also be shipped overseas.
- The mining machines already shipped have a theoretical maximum hash rate capacity of 18.2 PH/s. One PH/s stands for one quadrillion hashes per second, the measure of how many calculations a mining machine can compute.
- The move to Kazakhstan came after BIT Mining received notice on Saturday that the power supply for its data center in Sichuan would be suspended by the state energy regulator.
- BIT Mining's data centers in Sichuan contributed about 3% of its total revenue in May.
- With China's crackdown on the crypto mining industry, companies are looking to migrate elsewhere. Along with Kazakhstan, BIT Mining has also invested $25 million in a new mining center in Texas.