Share this article
BIT Mining Invests Another $11M in Ohio Crypto Mining Data Center
The funding will be used to add an extra 65 megawatts of power capacity.
Updated May 11, 2023, 4:00 p.m. Published Oct 18, 2021, 12:26 p.m.
Make us preferred on Google
Cryptocurrency mining company BIT Mining (NYSE: BTCM) is investing another $11 million in the Ohio site it is developing with Viking Data Centers.
- BIT Mining said $9.8 million will be paid in cash and the rest in cash or shares.
- That’s on top of the $12.4 million it agreed to invest in September.
- The investment will take BIT Mining’s interest in the site to 55%, with Viking at 45%.
- As a result of the investment, the site’s power to capacity will climb to 150 megawatts (MW), up from the 85 MW originally planned.
- The companies expect to complete the process by March 31, 2022.
Read more: BIT Mining’s Subsidiary BTC.com to Exit Mainland China
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business
Brian Armstrong returns from World Economic Forum with message: traditional finance is taking crypto seriously
What to know:
- Coinbase CEO Brian Armstrong said a top executive at one of the world’s 10 largest banks told him crypto is now the bank’s “number one priority” and an “existential” issue.
- At Davos, Armstrong highlighted tokenization of assets and stablecoins as major themes, arguing they could broaden access to investments for billions while threatening to bypass traditional banks.
- He described the Trump administration as the most crypto-forward government globally, backing efforts like the CLARITY Act, and predicted that AI agents will increasingly use stablecoins for payments outside conventional banking rails.
Top Stories
