Futu Holdings Limited (FTFT.US) signs cryptocurrency mining farm hosting agreement
Fulcrum Technology (FTFT.US), a wholly-owned subsidiary of Fulcrum Technology, signed a cryptocurrency mining farm hosting agreement with Teracrypto Technology LLC. The agreement stipulates that FTFT Super Hashrate will provide mining machine hosting services to Teracrypto, with a validity period until February 28, 2026. The general manager of FTFT Super Hashrate stated that now is the best time for Bitcoin mining, and the mining machine hosting business will create continuous investment returns for the company
According to the Zhitong Finance and Economics APP, a leading comprehensive financial and digital technology service provider, Futu Holdings Limited (FTFT.US), announced today that its wholly-owned subsidiary, FTFT Super Computing Power Company ("FTFT Super Computing Power"), has signed a cryptocurrency mining farm hosting agreement with Teracrypto Technology LLC ("Teracrypto"). The agreement stipulates that FTFT Super Computing Power's cryptocurrency mining farm in Norwalk, Ohio, USA, will provide hosting services for Teracrypto.
Teracrypto's mining machines include models such as Antminer S19j Pro. FTFT Super Computing Power will provide up to 3.0 megawatts of load power for them. The final load of the servers will be based on the actual number of mining machines installed, and the monthly hosting service fee will be calculated based on the actual electricity consumption of Teracrypto's mining machines multiplied by the unit hosting fee. FTFT Super Computing Power is responsible for providing the mining farm site, installing, testing, and operating the mining machines, and ensuring continuous power supply for the machines. The agreement is valid from March 15, 2024, to February 28, 2026, and the calculation of the hosting fee will start from the actual start-up date.
Mr. Liu Yang, General Manager of FTFT Super Computing Power, said, "We are pleased to provide mining machine hosting services for Teracrypto. We believe that now is the best time for Bitcoin mining, as the price of Bitcoin recently hit a historical high. As of March 21, 2024, Bitcoin miners' daily income reached $52.7 million, an 80.2% year-on-year increase. We believe that the mining machine hosting business at FTFT's Ohio mining farm will generate sustainable investment returns for us."