1 year ago
The Singapore-based concern absorption and software-as-a-service (SaaS) provider, SMI Vantage, plans to motorboat a bitcoin mining installation successful the authorities of Sarawak successful Borneo, Malaysia. The institution has signed a rental statement and anticipates operations to statesman by the extremity of the 3rd quarter.
SMI Vantage Charts New Territory With Sarawak Bitcoin Mining Venture
According to a report from The Edge Singapore, SMI Vantage, an concern and SaaS firm, has disclosed its volition to commence bitcoin mining operations successful Sarawak. The steadfast is successful the process of mounting up 2 containers equipped with application-specific integrated circuit mining machines. Operations are projected to commencement by October 1, 2023, oregon the decision of the 3rd quarter.
SMI’s caller statement was advised by Sovereign Systemtechnik, a Singapore-based engineering and exertion firm. The woody was inked successful September 2022 and marks SMI’s 3rd bitcoin mining venture. While SMI already has operations successful Melaka, Malaysia, it besides boasts a bitcoin mining installation successful Bandar Seri Begawan, Brunei’s capital. Beyond SaaS and cryptocurrency mining, SMI has a keen involvement successful artificial quality (AI) and predictive analytics solutions.
While bitcoin mining is ineligible successful Malaysia, utilizing stolen energy for crypto mining is highly discouraged. Reports bespeak that from 2018, amerciable crypto mining activities resulted successful a nonaccomplishment of RM2.3 cardinal ($491,610) for Malaysia, with implicit 7,200 cases documented. SMI states that successful Melaka, the institution pays $0.07 to $0.08 per kilowatt-hour (kWh) and $0.05 to $0.06 per kWh successful Bandar Seri Begawan.
What bash you deliberation astir SMI expanding crypto mining operations to Sarawak? Share your thoughts and opinions astir this taxable successful the comments conception below.
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