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More fertile lands: Singaporean developer to set up over 1000 mining rigs in Malaysia

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AMB Crypto

Sat, Jan 15, 2022

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was in an agreement with SMI CS Pte. Ltd., for the construction of over 1,000 crypto mining rigs in Melaka, Malaysia .

The official press release stated , “Pilot phase of the first 50 sets of Crypto Mining rigs to commence operations by end January 2022 and an additional 1,500 Crypto Mining rigs to be delivered and installed from February to March 2022 with the option by SMI to provide an additional 1,000 Crypto Mining rigs in 2022” Malaysia is famous in the Bitcoin mining industry for its relatively cheap power rates, where the price of electricity for businesses is about $0.092 per kWh .

Proving its hardline stance, authorities have crushed over 1,000 crypto mining rigs in 2021.

Now, there are ambitious plans for crypto mining in the country on an institutional level.

The Cambridge Bitcoin Electricity Consumption Index shows that Malaysia’s hashrate share has fluctuated in the past year, possibly also linked to the high-profile raids on crypto mining equipment.

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