{"id":141174,"date":"2021-10-08T18:29:39","date_gmt":"2021-10-08T18:29:39","guid":{"rendered":"https:\/\/precoinnews.com\/?p=141174"},"modified":"2021-10-08T18:29:39","modified_gmt":"2021-10-08T18:29:39","slug":"powercrypto-holdings-to-launch-btc-eth-mining-in-hong-kong","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/powercrypto-holdings-to-launch-btc-eth-mining-in-hong-kong\/","title":{"rendered":"Powercrypto Holdings to launch BTC &amp; ETH mining in Hong Kong"},"content":{"rendered":"<p>A subsidiary of the blockchain software provider Powerbridge Technologies, Powercrypto Holdings, has announced the launch of a sustainable cryptocurrency mining initiative for Bitcoin (BTC) and Ether (ETH) in Hong Kong.<\/p>\n<p>The company plans to deploy a total of 2,600 first-grade mining rigs, comprising of 600 BTC mining machines operating at a hash rate of 60 PH\/s, as well as a further 2,000 ETH mining machines, which harness a hash rate power of 1,000 GH\/s.<\/p>\n<p>According to the announcement, Powercrypto\u2019s ultimate ambition with the\u00a0inauguration of this venture is to increase the BTC and ETH hash rate level across the North American and Asian markets.<\/p>\n<p>Analytical data revealed\u00a0that Bitcoin\u2019s current hash rate, \u00a0measured by terahashes per second, reads 150.29m across a seven-day average. This is a figure considerably higher than the two-year low of 84.8 during June this year.<\/p>\n<p>Stewart Lor, President of Powerbridge Technologies, shared his company\u2019s expectations for the future of this initiative both from a financial and environmental standpoint.<\/p>\n<blockquote><p>&#8220;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.&#8221;<\/p><\/blockquote>\n<p><strong><em>Related: Hong Kong landlords lease to crypto exchanges following regulatory clarity<\/em><\/strong><\/p>\n<p>On Monday, the Hong Kong Monetary Authority, or HKMA,\u00a0released an official white paper, proposing a year-long research and development effort to appraise the plausibility\u00a0of a central bank digital currency, commonly referred to as the digital Hong Kong dollar (e-HKD).<\/p>\n<p>The initiative was part of Hong Kong\u2019s vision for Fintech 2025, a technological initiative to advance the country&#8217;s infrastructure in line with modern demands. Despite fostering innovative practices in this niche, the nation\u2019s regulatory bodies have looked unfavorably on the digital asset space. Hong Kong is currently guided politically as a special administrative region of China.<\/p>\n<p>Source: <a href=\"https:\/\/cointelegraph.com\/news\/powercrypto-holdings-to-launch-btc-eth-mining-in-hong-kong\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A subsidiary of the blockchain software provider<\/p>\n","protected":false},"author":3,"featured_media":141173,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Powercrypto Holdings to launch BTC &amp; ETH mining in Hong Kong - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/powercrypto-holdings-to-launch-btc-eth-mining-in-hong-kong\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Powercrypto Holdings to launch BTC &amp; 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