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500.com sells shares for nearly 1 EH / s of mining power for Bitcoin

500.com Limited (WBAI), a Chinese lottery company committed to becoming a cryptocurrency mining company, announced yesterday, March 15, the acquisition of bitcoin mining machines in exchange for 11,882,860 Class common shares. A. The company estimates that the machines will have a maximum hash capacity of 918.5 PH / s.

500.com announced yesterday, through a press release, the acquisition of machines from bitcoin mining, owned by “certain non-US persons”, for 11,882,660 class A common shares, each valued at USD 1.21, or USD 12.10 per deposit share (ADS).

With this transaction, 500.com acquired mining machines that include the S17, T17, and S9 AntMiners from Bitmain and M20s Whatsminer from MicroBT, with which It is estimated that a hash rate of approximately 918.5 PH / s will be reached. Once these machines are fully implemented, the company estimates that, with all its mi neros, including the newly acquired ones, will reach a total capacity of 1 EH / s. Currently the total hash that the Bitcoin network handles is 160 EH / s.

This announcement is given a month after the purchase of BTC.com by the Chinese lottery company, where the domain name, digital wallet, and mining pool were acquired .

500.com is not the only company targeting mining in exahashes

Riot Blockchain, one of the largest mining companies in the United States, which is listed on Nasdaq , is waiting for 2,201 S19 Pro Antminers miners from Bitmain, which were shipped in February, and according to a statement, will be received next week. With these 2,201 miners added to the 11,728 the company already owns, Riot Blockchain expects to have a hash rate capacity of 1.3 EH / s.

On the other hand, the company, within the same statement, announced the purchase of 1,500 miners more of Bitmain’s S19j Pro Antminers model, to be delivered to you in October.

These 1,500 Antminers are part of another 24,500, bought by the company, which are scheduled to be received in monthly deliveries until October. By then Riot Blockchain expects to have 39,146 miners operating with an approximate capacity of 4 EH / s , that is, 2.5% of the total hash that the Bitcoin network handles.

We are excited about our commitment to expansion, substantially increasing our operational capacity in hash rate.

Jason Les, CEO of Riot Blockchain.

These acquisitions are part of the race for China and the United States to see who retains the leadership in the bitcoin market, which are also contested with Canada.

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Sandra Loyd
Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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