Future Fintech signs a cooperation agreement to build a cryptocurrency mine in the United States

On December 17th, Mirae Fintech Group announced today that the company and APC Service Ltd. have signed a cooperation agreement to establish a joint venture to build a cryptocurrency mine in Ohio, the United States.

The total scale of the cryptocurrency mine is 300 MW, and the scale of the first phase of the project is 50 MW. When the first stage of the mine is completed, 12,000 S19 Antminers can be deployed, with a pre-calculation power of 1.3EH/s.

According to the agreement, the company will set up a wholly-owned subsidiary "FTFT Supercomputing Center" in Ohio, USA to carry out investment and construction of cryptocurrency mining operations.

APC has the right to purchase 30% of the FTFT Supercomputing Center shares within 365 days after the completion of the first phase of the mine. The cryptocurrency mine project is divided into six phases, each with a capacity of 50 MW. Each phase has an investment budget of 10 million U.S. dollars and a total capacity of 300 MW. The estimated total investment is 62 million U.S. dollars.

Among them, the first phase project of 12 million US dollars will be used for land acquisition, plant renovation and power system upgrade. The cryptocurrency mine is located near the power plant, and the first phase of the project is expected to be completed and put into operation in June 2022.