Australian Blockchain Firm Strikes $190 Million Crypto Mining Deal

Klik hier om een tekst te typen.Sydney-based IoT Group, an ASX-listed firm, has inked a deal with the Australian reseller of Bitfury’s bitcoin mining hardware to kickstart a mining operation if it can get a decommissioned coal plant up and running again.

In an announcement and disclosure on the Australian Securities Exchange (ASX) on Monday, the IoT Group revealed its subsidiary IoT blockchain had signed a ‘conditional binding terms sheet’ with Royalti Blockchain Group, the Australian reseller of bitcoin mining hardware giant Bitfury.

The proposed deal sees the IoT Group envisioning the development of a ‘Blockchain Applications Complex’ (BAC) in Hunter Valley, powered by the Redbank power station – a decommissioned coal plant. 

 

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