CandleFocus Kaixin plans crypto mining expansion amid Bitcoin’s new all-time high
2024-11-17
Author: Content Editor
Chinese electric vehicle manufacturer Kaixin is planning to acquire a controlling stake in a Middle Eastern cryptocurrency mining operation, marking a significant shift from its traditional automotive business. The company is in the advanced stages of evaluating the potential acquisition, which features cost-efficient Bitcoin mining machines and comprehensive cloud hosting services. Kaixin highlighted the facility's access to stable, long-term energy supplies as a key advantage. This move represents a bold pivot for Kaixin, allowing it to leverage its expertise in sustainable operations while expanding into the crypto sector. The exact timeline for the deal remains uncertain.
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