Chinese operator 500.com to purchase bitcoin mining machines for $8.5m

imagesource:calvinayre.com

Chinese operator 500.com is set to buy 5,900 bitcoin mining machines for a total consideration of approximately RMB55.2m (approximately $8.5m).

The expected date by which the machines would reach the place is second quarter of year 2021. The framework agreement covers the purchase of upto 10,000 bitcoin mining machines.

As per report by Gambling Insider, 500.com was more associated with online gaming, while its Malta-based subsidiary The Multi Group has a prominent presence in the Nordic market. The operator announced its plans to mine bitcoin back on 11 January.