Zhongjia Bochuang, a Shenzhen Stock Exchange-listed firm with a market cap of around $900 million, has chosen to increase its participation in the cryptocurrency mining industry. MicroBT, a hardware supplier, has revealed intention to purchase the business millions of specialized ASIC mining equipment.
ZJBC is among China’s oldest and biggest ICT firms, having been established in 1997. Artificial intelligence and cloud communications are the company’s main businesses. Wu Ying, the Chairman of ZJBC, is said to have invested in MicroBT as early as 2019 via his investment fund.
Due to the corporation’s Whatsminer M30S ++ (112TH / s), which is one of the higher performing ASICs on the marketplace currently, MicroBT’s Whatsminer ASIC mining chain has witnessed growing demands recently.
The company announced that over the next 2 years, it expects to invest up to 1 billion yuan ($155 million) on MicroBT’s WhatsMiner ASIC mining equipment. MicroBT pledged to promote ZJBC facilities as part of the strategic alliance. When buying products, ZJBC would consider MicroBT’s hardware.
“The scale for the first year will be no less than 20,000 units with the first batch to be delivered by May 2021 with no less than 2,000 units,” ZJBC said.
Despite its current investment in the blockchain mining sector, ZJBC’s important project isn’t exactly unexpected. Changshi Telecommunication, a wholly-owned company of ZJBC, has been engaged in the construction and maintenance of blockchain mining facilities in Sichuan.
To guarantee seamless cooperation, both sides have planned to establish a high-level communication network and coordinate debates and seminars. The parties involved have pledged to collaborate in the future to implement artificial intelligence, edge computing, 5G micro base stations, and blockchain technological innovations for the sector.