JKL Group Reveals its Expansion into Bitcoin Mining

https://www.ibtimes.com/hong-kong-texas-quantitative-hedge-fund-mining-farm-jkl-groups-dynamic-expansion-3564233

Texas, United StatesJKL Group (JKL) is set to become the dominant force in Bitcoin mining as they enter the industry with a landmark Texas project.

The first facility in Texas will host over 10,000 machines or 35MW and is scheduled to go live in July 2022. Targeting a total investment over USD 60 million, the company plans to rapidly build out to 85MW of capacity by the end of 2022 and scale to over 250MW in 2023.

“After China’s regulatory reforms on Bitcoin mining in 2021, we launched JKL Mining to leverage the opportunity and bolster our products and services to the blockchain industry,” Jingyuan Ye, Co-Founder and Chairman of JKL Group, says. “Headquartered in Hong Kong, JKL was already tactically positioned to serve as a gateway between China and the rest of the world,” he adds.

Lesia Marchenko, Vice President at JKL Capital, says, “Texas was strategically selected for the new mining operations due to its expansive energy infrastructure, welcoming legislative support and robust regulatory environment. With teams in Hong Kong and the US, we are able to take advantage of the global supply chain to offer both state-of-art hosting facilities and attractive pricing structures for our miners.”

The group is a registered member of the Texas Blockchain Council. The investment is also expected to boost the local economy by creating over 200 jobs over the next three years.

JKL partnered with Power and Data Management to offer a one-stop service platform for Bitcoin miners. Beyond hosting services, JKL Mining also provides hardware, infrastructure, and logistics solutions, in addition to its plans to expand into self-mining.

Expanding into Bitcoin mining is only one path of JKL’s dynamic growth journey. Having a strong background in financial services and investment management, JKL Capital is now rapidly expanding its tailored crypto lending solutions.

Read Full Article Here: https://www.ibtimes.com/hong-kong-texas-quantitative-hedge-fund-mining-farm-jkl-groups-dynamic-expansion-3564233

About JKL Group

JKL Group is a diversified digital asset and blockchain focused firm overseeing two lines of business:

  • JKL Capital is the financial arm of the group offering a full range of products including quantitative investment strategies, crypto lending solutions and OTC services;
  • JKL Mining focuses on developing, operating and owning world class facilities for Bitcoin mining globally.

JKL Group was founded in 2017 by a team of seasoned professionals with backgrounds in traditional finance and expertise in global financial markets, asset management and quantitative investment strategies. The group’s competitive edge is its end-to-end digital asset expertise, covering quantitative investment solutions, lending, OTC services and Bitcoin mining. For more information, please visit https://www.jkl.group.

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JKL Group

JKL Group

Quantitative fund focused exclusively on trading digital assets and blockchain technology. Find out more on www.jkl.capital