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Phoenix Group, the rising star of Bitcoin mining in recent times, signed an important agreement with Bitmain, the device manufacturer. The agreement included a purchase of $187 million worth of devices.

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Only the purchases were mentioned and no information was shared about the brand or how the devices were. It is known that the company uses devices that are powered by water immersion and attaches importance to renewable energy.

Phoenix company had reached an agreement in recent months to establish a $300 million Bitcoin mining farm in Saudi Arabia and Oman.

Phoenix Group, which closely follows blockchain technologies and takes various steps in this regard, also made its company shares public in December. It was stated that there was 33 times more demand for the company’s shares, which started trading on the Abu Dhabi Stock Exchange at that time, than expected.

Cleanspark, a Bitcoin mining company based in the United States, recently made an agreement with Bitmain for $90 million and also reached a preliminary agreement for a future purchase of $100 million.

The post Bitcoin Mining Doesn’t Stop: $187 Million Device Purchase appeared first on Coin Engineer.