China-based BTC Digital announced the purchase of 220 new Bitcoin (BTC) mining units on Nov. 3, bringing its total number of machines to 2,174, with over 230 petahashes per second (PH/s) of computing power. The new acquisitions are expected to become operational by the end of the month.
The deal was made with “two unaffiliated third parties” for Bitmain Antminer S19j Pro units in exchange for 276,572 shares of ordinary company stock valued at $968,800, according to a statement. BTC Digital was known as Meten EdtechX Education Group until a name change in August that “better reflects the Company’s current business operations.”