Chinese Telecom Giant Coolpad Enters U.S. Bitcoin Mining for Clear Benefits

Coolpad, a Chinese telecom giant, is entering the world of Bitcoin mining. Quite an unexpected move for a company that is known for cheap mobile phones and accessories.

Anyway, Coolpad has just announced it will acquire 2,700 Bitcoin mining servers from Hong Kong-based JingYun Intelligent Technology. That's up to 1,504,800 TH/s of mining capacity. Coolpad is spending $13.5 million for this purchase. The rigs will be installed in a yet undisclosed locations in North America. That's pretty understandable, as Bitcoin mining is prohibited in China.

The Shenzhen-based company has already made some moves into crypto space.

In May, Coolpad announced a $28 million investment plan to purchase shares in some crypto asset companies, including CleanSpark, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETF, Grayscale Bitcoin Trust, and Hashdex Bitcoin Futures ETF.

Coolpad isn't the only telecom company to enter Bitcoin mining recently.

T-Mobile Deutsche Telekom will start mining Bitcoin this year. German company has been operating a Bitcoin node since 2023. This year the company launched its own Bitcoin Lightning Network nodes. And now the bigger anouncement was unveiled.

Speaking at BTC Prague, Dirk Röder, head of Web3 infrastructure and solutions at Deutsche Telekom, confirmed that the communications giant will start mining Bitcoin.

Alexey Bondarev is the Head of Content at Yellow.com, having reported on crypto for the last 10 years. He specializes in in-depth Research and Learn pieces, with a focus on analytical reporting, industry context, and the bigger forces shaping crypto, from the AI era and security technologies to fintech innovation. He believes that everything digital will imminently overcome everything analogue and is working hard to make that come true.