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Advanced Mining Group, an Asian-based firm focused on bitcoin mining, has acquired VBit Technologies, a U.S.-based hosting hardware mining company, for $105 million.
Advanced Mining operates 12 data centers dedicated to bitcoin mining across Europe and Asia. The deal will accelerate VBit’s growth and build a strong position in the global crypto mining market. VBit operates over 27,000 antminer S19 series and S17 series through five data centers across the globe. The firm has helped clients mine over $100 million in bitcoin.
“In addition to me being a firm believer that VBit’s future is bright, I also trust its mission to bring cryptocurrency adoption to the masses by making things simple for people to understand and get involved will be honored and stay intact,” said Don Vo, CEO and founder of VBit. “This gives me a peace of mind and freedom to focus on my health.”
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