Coolpad Group, a Hong Kong-listed company, plans to invest over HKD 100 million to purchase electronic computing servers for cryptocurrency mining

2024-06-14 16:26:02

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According to ChainCatcher news, the Hong Kong-listed company Coolpad Group announced that it has entered into a procurement contract in June 2024 to purchase equipment, with a total price of $13,583,700 (equivalent to approximately HKD 106,089,000). The subject matter involves 2,700 electronic computing servers for cryptocurrency mining.

Coolpad Group stated that its existing computing power is 873,000 TH/S, and after the completion of the procurement contract transaction, the computing power will increase to 1,504,800 TH/S. Coolpad Group mentioned that considering the atmosphere, market trends, and prospects of blockchain technology and cryptocurrency, the board believes that cryptocurrency mining is an attractive business that can enhance profitability in the long term.

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