500.com Limited came up with the announcement on Tuesday that it has made its entry in an agreement of definitive purchase of 5900 bitcoin mining machines, along with the total consideration of RMB55.2 million amount. All of the Bitcoin mining machines are expecting to come up with delivery in the second quarter of 2021.
Along with the current Purchase Agreement, the company came up with another announcement on Tuesday that it has entered into the framework agreement. On being pursuant to this agreement, the company comes up with agreeing on the principals to purchase around 10000 bitcoin mining machines in 2021.
However, it is subjected to the availability of various kinds of conditions. The company. 500.com Limited wants to pay the performance bond worth RMB2,000 per machine. The price for 5000 bitcoin mining machines sums up to RMB10 million.
It is assumed that with the full delivery of 15900 bitcoin mining machines, the company is going to have its total hash rate increased to approximately 1000 petahashes per second. This entering into the two agreements for bitcoin mining is hopefully going to increase the performance of 500.com Limited in better ways.