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Powercrypto Holdings Rolled Out Hong Kong-based BTC & ETH mining

By Emily Rys | October 9, 2021

Powercrypto Holdings – a Powerbridge Technologies blockchain software firm subsidiary – reportedly disclosed details surrounding the release of a sustainable crypto mining initiative for BTC and ETH

Specifically, the blockchain entity reportedly aims to complete the deployment of 2,600 first-grade mining rigs in total – made up of 600 BTC mining machines running at a hash rate of 60 PH/s, together with an additional 2,000 ETH mining machines, possessing a hash rate power of 1,000 GH/s.

Per the announcement, Powercrypto’s target in the endgame with the inauguration of this project is to amplify the BTC and ETH hash rate level, throughout the markets in North America and Asia. 

Analytical insights reportedly suggest that Bitcoin’s existing hash rate – with the measurement of by terahashes per second – recorded 150.29m throughout a seven-day average. This number is considerably higher, compared to the two-year low of 84.8 in June 2021. 

“We are very excited about our launch and positioning as a global presence in the cryptocurrency mining business. We expect our high-performance environmental-friendly crypto-mining fleets to significantly accelerate our revenue.” Stewart Lor, President of Powerbridge Technologies, further revealed his firm’s ambitions for the future of this project, financial and environmental standpoint-wise. 

On October 4th, the Hong Kong Monetary Authority (HKMA), reportedly introduced an official white paper, which includes the proposal of 12 months worth of study and development, in a bid to assess the potential of a central bank digital currency – generally known as the digital Hong Kong dollar (e-HKD).

The project is reportedly included within the scope of Hong Kong’s vision for Fintech 2025 – a tech-centric initiative aimed at improving the nation’s infrastructure, to cater to modern demands.

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