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Mine Exterior

On May 11, BitCoke, an overseas digital currency exchange, announced that it would invest US$100 million in a leading ETH mine and become a shareholder of the mine.

BitCoke is a fair-matching, fast-trading, and low-fee hybrid perpetual contract exchange that mainly serves professional traders, including digital currency institutional investors such as overseas funds and self-operated asset management departments. Peter, head of BitCoke Greater China, told Odaily that choosing to invest in China's ETH mines was a decision after careful research and rigorous analysis. BitCoke believes that China's mining machine market has a good structure, cheap electricity, high cost performance, and there are many mining machine manufacturers, so it is convenient and quick to purchase and maintain mining machines. "Although ETH mining farms in other regions continue to emerge, Chinese players hold the dominance of Ethereum mining. As ETH shifts to the PoS mechanism, the inflation rate drops to about 1.9% per year. The maximum issuance of ETH is expected to be 2 million per year. , BitCoke believes that the investment in the mine can bring better profits. The $100 million is a long-term financial investment for BitCoke.”

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mine interior

Ethereum has ushered in the era of smart contracts. Its market value has long been ranked second and it has the largest developer community. As of May 4, the total network computing power of Ethereum is about 180.67TH/s.

Peter further stated, "On the eve of the arrival of Ethereum 2.0, BitCoke invested US$100 million in the layout of the new mining economy, which shows that we are very concerned about the frontier progress of the blockchain industry. BitCoke recognizes the ecological changes and applications brought about by the upgrade of Ethereum to 2.0. Prospects, such as DeFi new finance". Peter believes that ETH2.0 will greatly change the industry landscape. BitCoke will continue to follow up and deploy Ethereum-related mining farms, network platforms, and application companies. "It is certain that BitCoke will have a larger investment plan."

The vision of DeFi is that all assets can be tokenized, and pledges, currency transactions, loans, asset transactions, investment and financing, etc. can be freely performed in the global open market. It is understood that the value locked by users in DeFi applications briefly exceeded US$1 billion in February this year. Peter believes: "ETH 2.0 can be said to be the best public chain for DeFi."