The company has been meeting prospective investors and is working with an adviser on the round, Bloomberg reported.
The agreement will add 800 petahash to Foundry USA mining pool's computing power, the companies said in a joint statement.
China's share of mining slid to 46% in April 2021 from 75% in September 2019.
Salvadoran volcanoes aren't the only novel source of power in the bitcoin mining industry.
"District and town majors, you should make your own decisions and, whenever you find a mining farm, fire or reprimand the head of that village," the nation's president said.
Luna Squares’ site will be used for third-party hosting and Mawson’s proprietary bitcoin mining operations.
CEO Dave Perrill says it could take until Q3 2022 for mining capacity to recover from China's recent crackdown.
Hive predicts the purchase will generate an additional $80,000 in daily income.
Plus: China’s Bitcoin crackdown, and why bitcoin isn’t a “boomer coin.”
Crypto mining is a small yet easy target for China’s efforts to realize carbon neutrality.
The miners reportedly used the electricity of the local power provider.
The number of listings on China's most prominent marketplace apps has increased in the last month and a half.