According to Statista, as of
In phase one of this partnership, a 35-megawatt (MW) Bitcoin mining farm will be developed, expected to accommodate 10,000 Bitcoin mining rigs that together are forecasted to generate over 2 exahashes per second (EH/s), projected to yield over 500 Bitcoins by the end of the first year. Subsequently, production will gradually increase, and more mining rigs will be added in subsequent phases. The objective is to mine over 2,000 Bitcoins within a five-year period. Based on the current market price of over
VCIG and Emerging Hub have initiated negotiations with certain government bodies and a prominent energy player, who will be supplying environmentally friendly
“Our venture into Bitcoin mining is not only about embracing innovation but also positioning ourselves at the forefront of the digital economy’s evolution. Bitcoin represents a paradigm shift in monetary systems, embodying scarcity and security in our increasingly digital world. As the most secure and decentralized digital asset, Bitcoin stands as a robust store of value. Its limited supply and growing market capitalization offer significant potential for value appreciation, especially as it garners mainstream acceptance through initiatives like ETF launches and regulatory approvals by major institutions,” said
About
VCI Global is a diversified holding company. Through its subsidiaries, it focuses on consulting, fintech, AI, robotics, and cybersecurity. Based in
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This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the
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