BTC Digital Ltd. Announces Purchase of 2,000 Units of T21 Miners

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Jan 02, 2024, 08:30 ET

SHENZHEN, China, Jan. 2, 2024 /PRNewswire/ -- BTC Digital Ltd. ("BTC Digital" or the "Company") (NASDAQ: BTCT), a blockchain technology company, today announced that it has entered into an asset purchase agreement (the "Agreement") with BITMAIN TECHNOLOGIES DELAWARE LIMITED ("BITMAIN") to acquire 2,000 units of T21 Miners for $5,320,000. The machines are expected to be delivered and put into operation by the Company in the first half of 2024.

T21 is BITMAIN's latest high-performance model, and the model's outstanding technical specifications make it an ideal choice for BTC Digital. With a single machine hash rate of up to 190TH/s, the combined hash rate of 2,000 machines may be as high as 380,000T. Meanwhile, the power consumption of this model of miners is only 3610W per unit of miner, showcasing its exceptional energy efficiency.

BTC Digital plans to deploy these high-performance miners in the mining facilities in the U.S. to enhance mining efficiency and increase Bitcoin production. After deploying the 2,000 units of newly acquired miners, the Company expects to have a total of 4,174 units of miners under operation, with a total hash rate reaching 614PH/s, representing nearly three times of the combined hash rate of the machines owned by the Company under operation as of today. BTC Digital believes that the acquisition of 2,000 miners represent its growth in the Bitcoin mining field and the Company's enhanced position in the global cryptocurrency mining market. BTC Digital anticipates to continue participating in Bitcoin mining with higher efficiency and generating profits for the Company and its investors. The entry into the Agreement underscores BTC Digital's commitment to its cryptocurrency mining business strategy.

Mr. Alan Peng, CEO of BTC Digital, stated, "We are delighted to enter into the Agreement with BITMAIN, and we believe the outstanding performance of the T21 miners will help enhance the competitiveness of our mining business. We believe the acquired T21 miners will help solidify BTC Digital's position in the cryptocurrency field."

About BTC Digital Ltd.

BTC Digital Ltd. is a blockchain technology company, with a long-term strategy to create value across the metaverse, blockchain and cryptocurrency mining industry. The Company is committed to developing blockchain related businesses in North America, including cryptocurrency mining, mining farm construction, mining pool and data center operation, and miner accessories business.

For more information, please visit: https://btct.investorroom.com/

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

SOURCE BTC Digital Ltd.