Future Fintech signs deal to establish cryptocurrency mine in US

Mirae Fintech Group announced on December 17 that the company and APC Service Ltd. signed a joint venture agreement to establish a joint venture to build a cryptocurrency mine in Ohio, United States.

The total size of the cryptocurrency mine is 300 MW and the scale of the first phase of the project is 50 MW. At the end of phase 1 of the mine, 12,000 Antminers S19 can be delivered with a pre-counting power of 1.3 pe / s.

Under the agreement, the company will establish a full-fledged "FTFT Supercomputing Center" in Ohio, United States, to provide investment and development opportunities for the cryptocurrency mining industry. .

APC reserves the right to purchase 30% of the shares of FTFT Supercomputing Center within 365 days of the completion of the first phase of the mine. The cryptocurrency mining project is divided into 6 phases, each phase has a size of 50 MW, each phase has a total investment capacity of $ 10 million, a total capacity of 300 MW, and a total investment of $ 62 million.

Of these $ 12 million, the first phase of the project will be used to acquire land, rehabilitate factories and improve energy. The cryptocurrency mine is near the power plant and the first phase of the project is expected to be completed and operational by June 2022.