Powercrypto Holdings, a subsidiary of the blockchain software
provider Powerbridge Technologies, is launching cryptocurrency
mining, specifically Bitcoin (BTC)and Ethereum (ETH), in Hong Kong.
These cryptocurrency operations will utilize
environmental-friendly, green, and sustainable energy. This
announcement was made in a press release on Friday, October 8,
2021 Powerbridge Technologies is a growth-driven technology
company primarily engaged in SaaS solutions and Blockchain
applications. Launching Crypto Mining In Hong Kong Powerbridge
Technologies plans to deploy a total of 2,600 high-performance
mining rigs in Hong Kong, including 600 BTC mining machines working
at a hash rate of approximately 60 PH/s. It also includes 2,000 ETH
mining machines, with a hash rate power of approximately 1,000
GH/s. According to the announcement, Powercrypto aims to increase
the BTC and ETH hash rate levels across the North American and
Asian markets. Related Reading | Since China’s Mining Ban,
Bitcoin Hashrate Has Recovered by 68% And Counting Sean Wang,
Powercrypto’s General Manager and Chief Technology Officer, stated
that: “Powercrypto is a major strategic move by the Company to
highlight our global presence in the crypto-mining business. We
will focus on enhancing our overall hash rate level in BTC and ETH
mining by setting up mining fleets in North America and Asia.” In
its global BTC and ETH mining, the company plans to focus on
maximizing the use of carbon-free clean energy power. Powerbridge
Technologies President Stewart Lor, also commented, “We are
very excited about our launch and positioning as a global presence
in the cryptocurrency mining business. We expect our
high-performance environmental-friendly crypto-mining fleets to
significantly accelerate our revenue.” Related Reading | Value
Of Ethereum Held By Miners Reaches Five-Year Record Levels
Powerbridge Technologies states that it plans to increase its
bitcoin miners with an expected capacity of 10,000 miners and an
expected hash rate of 728 PH/S. Additionally, according to the
company, its proprietary AI/GPU operating system can support up to
100,000 ETH miners in operation. Powercrypto Holdings: A Subsidiary
Of Powerbridge Technologies Powerbridge
Technologies established Powercrypto Holdings, its new
Singapore-based subsidiary for its Crypto Mining and Digital Asset
operations, late last month. Powercrypto focuses on green renewable
energy-powered crypto mining farms with its intended worldwide
operations. The announcement states that the subsidiary strives to
become one of the most competitive Bitcoin and Ethereum mining
companies. The President of Powerbridge Technologies believes that
Powerbridge is well-positioned to accelerate the growth of its
crypto businesses and generate promising revenue from it. BTC
trading at $54.9K | Source: BTCUSD on TradingView.com A few days
ago, the company announced the appointment of Sean X. Wang as
General Manager and Chief Technology Officer of Powercrypto
Holdings. Mr. Wang, a blockchain expert, was brought on to lead the
operations and technology development of Powercrypto’s crypto
mining business. He reportedly has wide-ranging expertise in the
fields of crypto mining and digital assets operations, having
managed and operated mining fleets with nearly forty thousand
Bitcoin and Ethereum mining rigs. Digital Currencies In Hong Kong
Hong Kong has played a crucial role in the history of
cryptocurrencies. It is the birthplace of some of the world’s
largest crypto companies. Tether, the world’s largest stablecoin,
was also launched here. Hong Kong is a metropolitan area and
special administrative region of China. Therefore, unfavorable
regulations have affected the digital assets space in the region.
However, it has been making efforts to develop its Central Bank
Digital Currency (CBDC), e-HKD since 2017. Featured image by
CoinGeek, Chart from TradingView.com

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