US-based crypto mining firm to build $2mn 16MW mining farm in Kazakhstan

By bne IntelIiNews June 18, 2021

Wattum, a US-based crypto mining company, has signed a deal to build a $2mn 16-megawatt (50MW) crypto currency mining farm in Kazakhstan run by Energix. The two parties are also in talks to construct an $8mn 50-megawatt farm. 

Construction is expected to start in July. Currency miners have been actively seeking new venues amid crackdowns on crypto mining in China and Kazakhstan is becoming an attractive destination, Energix CEO and co-founder Yerbolsyn Sarsenov told CoinDesk. Energix operates as a so-called “mining hotel”, an entity that provides space, energy and maintenance services for miners looking for locations for their machines. 

Energix already has a 180-megawatt capacity plant in the country. 

“Last year, we had applications for 20 megawatts. This year, applications for hundreds of megawatts came in in a matter of weeks,” he said.

Wattum currently has farms in upstate New York and Pittsburgh. Kazakhstan is seen as an attractive destination due to its proximity to China.

Related Articles

Polish telecom operator Play to take over cable network UPC for PLN7bn

The French-owned Polish telecom operator Play is taking over the Polish cable network UPC from American Liberty Global for PLN7bn (€1.52bn), UPC said on September 22. Play, the second-largest ... more

Serbian official defends timing of 5G auction

A regulatory framework setting the pre-conditions for launching public bidding for the allocation of 5G frequencies in Serbia exists, stated Vladana Radisavljevic Djordjevic, the head of the Group ... more

Global meal kit delivery giant HelloFresh invests in Russian counterpart Chefmarket

HelloFresh, the Germany-based international meal kit giant, has acquired an “approximately 10% stake” in its Russian counterpart Chefmarket. The amount of this investment (a capital injection) ... more

Dismiss