Phoenix Group Acquires Bitmain Mining Rigs
A significant $187 million acquisition from Bitmain, a prominent participant in the bitcoin mining market, has been disclosed by Phoenix Group.
Phoenix previously paid $136 million for mining rigs from Bitmain’s rival, Whatsminer. This purchase occurred not long after.
It is anticipated that this change will improve Phoenix’s mining capabilities and solidify its place in the cutthroat Bitcoin mining market.
With this most recent investment, Phoenix is well-positioned to grow its business and further establish its standing as a significant participant in the bitcoin space.
(With inputs from Shikha Singh)
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