Powercrypto will start mining BTC and ETH in Hong Kong in the middle of a Chinese ban

Powerbridge Technologies’ blockchain software provider Powercrypto Holdings has announced the launch of a sustainable cryptocurrency mining BTC and ETH in Hong Kong.

The company plans to deploy a total of 2,600 first-class mining sets, which will consist of 600 BTC mining machines. They will work with a hash rate of 60 PH/s, as well as another 2,000 ETH mining machines, which will use the power of the hash rate of 1,000 GH/s.

According to the announcement, Powercrypto’s ultimate ambition is to increase the level of the BTC and ETH hash rate in the North American and Asian markets. Analytical data revealed that the current BTC hash rate is 150.29m within the seven – day average. This is a figure significantly higher than the two-year low of 84.8 from June this year.

Powercrypto triggers mining in the middle of the ban

Stewart Lor, President of Powerbridge Technologies, shared his company’s expectations for the future of this initiative:

,,We are very excited about our launch in the cryptocurrency mining industry. We expect our high performance ecological crypto-mining machines will significantly accelerate our revenues.“

The Hong Kong Monetary Authority (HKMA) issued an official white paper on Monday proposing year-round areas of research and development. The aim is to assess the credibility of the central bank’s digital currency, commonly referred to as the Hong Kong Dollar (e-HKD).

The initiative was part of Hong Kong’s vision Fintech 2025, a technological initiative to improve the country ‘s infrastructure in line with modern requirements. Despite the promotion of innovative practices in this area, national regulators view the digital asset space unfavorably. However, Hong Kong is currently politically led as a special administrative region of China.