According to a recent announcement, the $61 million Powerbridge company is planning to enter the cryptocurrency mining market. The company's plan is to mine Bitcoin and Ethereum globally.
Powerbridge is creating a specialized team that will develop its cryptocurrency mining direction.
The company's president stated that they are sharing the global optimism about the cryptocurrency market, and mining is only a part of their whole blockchain strategy. Powerbridge is looking forward to building clean energy using Bitcoin and Ethereum mining stations globally. Mining of digital assets will be directly aimed at the company's growth.
About the company
Powerbridge is listed on Nasdaq and providing SaaS solutions. In addition to the company's main services, it has a Powerbridge Blockchain division that works with cryptocurrency mining specifically. In addition to mining, the company provides IPFS distributed network services and various blockchain applications. Powerbridge's SaaS platform integrates with companies globally to provide e-commerce, supply chain, data intelligence and IoT solutions.
The company will provide additional hashrate to a network that has lost a large portion of mining capacity after the recent cryptocurrency mining ban in China. At press time, Bitcoin and Ethereum's hashrate remains at 112 million TH/s and 583 TH/s, respectively.
Alex Dovbnya
Vladislav Sopov
Dan Burgin