Bitcoin (BTC) mining company BIT Mining plans to invest $12.14 million to develop an 85-megawatt 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.
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 85-megawatt Bitcoin mining facility will reportedly be developed in three phases.The first stage of the facility’s development will see the capacity reach 11 megawatts by Oct. 15, 2021, while the second and third phases will have milestone capacities of 39 and 35 megawatts, respectively.
The timeline for the second and third phases, according to the announcement, is Nov. 15, 2021, and Feb. 15, 2022.
