CNET partner with bitspace china for crypto mining platform – #stocks chatter


CNET partner with bitspace china for crypto mining platform
ZW Data Action Technologies, Inc. (NASDAQ:CNET) ("ZW Data" or the "Company"), an integrated online advertising, precision marketing, data analytics, and other value-added services company, today announced that it signed a strategic cooperation agreement with Wuhan BitSpace Tech Inc. (“BitSpace”) to build a joint blockchain mining platform.

BitSpace provides blockchain miningtechnology for diversified channels and user services. After years of development, it has built three main businesses: quantitative AI technology, blockchain investment, and blockchain big data computing services. BitSpace also owns a large number of cryptocurrency network computing servers and has in-depth cooperation with many well-known domestic blockchain data consumption industrial parks. The two parties will use their respective capital, platforms and resources to build a joint blockchain mining platform. More information about BitSpace can be found on its website:

The ZW data’s blockchain infrastructure framework (BIF) platform will offer a new model of smart contract for automatic aggregate mining and achieve the automatic distribution of income. This will lower the risk of centralization, and further enhance the transparency of income distribution. BitSpace jointly with the Company will implement 2800 miners of Ant Series T19, which will be deployed in the next 6 months upon certain conditions. The expected total power will reach 229PH/s.

Yingguang Guo, Chief Technology Officer of ZW Data, commented, “We will work together to establish multiple large-scale self-operated mines with a load of more than 100,000 kilowatts in a much faster operating efficiency. We will also have comprehensive cooperation with BitSpace in the field of digital currency, such as mine design and construction, mining machine procurement, operation and maintenance, and quantitative hedge investment of digital currency. We plan to build the platform so that traditional industries will benefit from blockchain technology, cloud computing power, mining pool and financing capacity, while linking to the traditional business owners as an alternative business opportunity or enhancement to their existing businesses.”

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