The Chinese company ZJBC will purchase ASIC miners for $155 million – Bits Media

Shenzhen Exchange Traded ZJBC, part of which belongs to the state, plans to purchase WhatsMiner ASIC miners from MicroBT in the amount of $155 million.

ZJBC was founded in 1997 year as a telecommunications company. Now the company is engaged in information technologies and financial services, And its capitalization is evaluated in $900 million. Moreover, about 2.8% these funds belong to the state. In this way, Thanks to the purchase of miners, The profit from the production of cryptocurrencies will receive the Government of China.

“Deliveries will be made in the next two years. We expect, that in the first year Microbt will provide at least 20 000 devices, And the first batch in 2 000 Miners should be set until May 2021 of the year", - says in the statement ZJBC.

Note, that the chairman of the board of ZJBC is a Chinese entrepreneur at (Wu Ying), which has long been interested in cryptocurrencies and was an early investor Microbt. Besides, in 2018 year, the subsidiary of ZJBC Changshi Telecommunications began to provide services for the construction and support of mining farms.

In early March, the Israeli company Bitfarms purchased from Microbt 48 000 cryptocurrency production devices. Deliveries are expected only in January 2022 of the year.