BitVentures Enters Crypto Mining with Bitmain Hardware, Plans Operations by 2026
Autor: Mining Provider Editorial Staff
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Kategorie: News
Zusammenfassung: BitVentures Limited has entered the cryptocurrency mining sector by acquiring Bitmain hardware, aiming for significant Bitcoin and altcoin hashrates with operations starting in January 2026. Following this announcement, the company's stock rose by 8%, signaling renewed investor confidence after previous struggles.
BitVentures Enters Crypto Mining with Bitmain Hardware
BitVentures Limited has officially announced its entry into the cryptocurrency mining sector, following a rebranding from Santech Holdings. The company has acquired various mining hardware from Bitmain, including Antminer S21 XP Hydro units, air-cooled S21 XP miners, and Antminer L9 machines, which are expected to deliver a Bitcoin hashrate of 30 PH/s and a combined hashrate of 0.5 TH/s for Litecoin and Dogecoin. The installations are set to be completed by the end of January 2026, with a power capacity secured at 0.5 megawatts across several data centers in the United States.
"We believe that building an efficient mining infrastructure will position the company favorably to capitalize on broader opportunities within the digital asset ecosystem," stated Lawrence Wai Lok, CEO of BitVentures Limited.
The company plans to commence its mining operations in January 2026, aiming for full operational capacity in the first quarter of 2026. This strategic move is seen as a "proof-of-concept" for BitVentures' formal entry into the digital asset sector, with intentions to expand into additional services such as staking and node operations in the future.
Following the announcement, BitVentures' stock surged by 8%, reflecting investor confidence in the company's new direction. The stock had previously experienced a significant decline, with a total return of approximately -89% since its IPO. This shift towards cryptocurrency mining is viewed as a potential solution to the company's previous struggles in the asset management sector, which saw no revenue in the first half of the fiscal year 2025.
Key Insights
- BitVentures has entered the cryptocurrency mining sector with significant hardware acquisitions.
- The company aims for a Bitcoin hashrate of 30 PH/s and a combined hashrate of 0.5 TH/s for Litecoin and Dogecoin.
- Mining operations are set to begin in January 2026, with full capacity expected in Q1 2026.
- BitVentures' stock rose by 8% following the announcement of its new strategy.
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