Ohio to host BIT Mining's new 85 MW Bitcoin mining facility

[RSRS]

Bitcoin (BTC) mining company BIT Mining plans to invest $12.14 million to develop an 85 megawatts crypto mining center in Ohio.

As the company that owns the entire mining pool business operated under BTC.com, BIT Mining set up a joint venture agreement with Viking Data Centers to establish the Bitcoin mining facility.

As part of the JV agreement, BIT Mining will pay $10.84 million in cash to Viking Data with the remaining sum settled in cash or company stock.

Following its investment in Viking Data and the subsequent JV agreement, BIT Mining will own 51% of the Ohio Bitcoin mining facility.

Dubbed the “Ohio Mining Site,” the planned 85MW Bitcoin mining facility will reportedly be developed in three phases.

The first stage of the facility’s development will see the capacity reach 11MW by Oct. 15, 2021, while the second and third phases having milestone capacities of 39 and 35MW respectively.

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