Future Fintech signs a cooperation agreement to build a cryptocurrency mine in the United States

Future Fintech signs a cooperation agreement to build a cryptocurrency mine in the United States

2021/12/18

According to reports, Mirae Fintech Group announced that the company and APC Service Ltd. had signed a cooperation agreement to establish a joint venture to build a cryptocurrency mine in Ohio, the United States. The full scale of the cryptocurrency mine is 300 MW, and the scale of the project's first phase is 50 M.W. When the first stage of the mine is completed, 12,000 S19 Antminers can be deployed with a pre-calculation power of 1.3EH/s. According to the agreement, the company will set up a wholly-owned subsidiary, "FTFT Supercomputing Center," in Ohio, the USA, to invest and construct cryptocurrency mining operations. APC has the right to purchase 30% of the FTFT Supercomputing Center shares within 365 days after completing the first phase of the mine. The cryptocurrency mine project is divided into six phases, each with a capacity of 50 M.W. Each phase has an investment budget of 10 million U.S. dollars and 300 MW. The estimated total investment is 62 million U.S. dollars. The 12 million U.S. dollars project will be used for land acquisition, plant renovation, and power system upgrades. The cryptocurrency mine is located near the power plant, and the project's first phase is expected to be completed and put into operation in June 2022.

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