- CIIX acquires equipment to participate in cryptocurrency mining; installing AntMiners and ASIC machines in secure datacenter, it intends to explore feasibility of earning coins such as bitcoin and Litecoin
- Warren Wang, CEO of CIIX, said that the move positions the company to capitalize on the growing blockchain industry; firm already has a daily broadcast on cryptocurrencies and sponsors bitcoin ATM
- CIIX may add graphical processing units (GPUs) and more mining equipment in the future
ChineseInvestors.com, Inc. (OTCQB: CIIX) is doubling down on its commitment to cryptocurrency. The company recently announced that it has acquired various pieces of equipment, including AntMiners, and installed them inside of a secure datacenter near Seattle. CIIX intends to use this equipment to explore blockchain mining (http://ibn.fm/Pu6LL).
CIIX said that, based on initial reports, it believes that cryptocurrency mining will result in a successful venture. If this forecast proves correct, CIIX anticipates ordering 500 or more application specific integrated circuit (ASIC) units. Additionally, the company would consider purchases of graphical processing units (GPUs) and other equipment used for blockchain mining.
The goal of these efforts is to achieve minimum hash rates that are consistent with the equipment specifications by the end of CIIX’s fiscal year on May 31, 2018. ASIC chips are seen as the ‘hashing workhorses’ of AntMiner units (http://ibn.fm/8TbwI).
CIIX is a company focused on educating and informing its global Chinese-speaking audience on a variety of financial subjects. It also has a core consulting business that manages brand building and roadshows for clients.
Prior to this new focus on the exploration of actual cryptocurrency blockchain mining, CIIX had already assumed a leadership position in this industry. It hosts a bitcoin ATM in the lobby of its San Gabriel, California, headquarters. It also broadcasts a daily video from the floor of the NYSE, titled ‘Bitcoin MultiMillionaire’, reporting on cryptocurrency news. Additionally, CIIX maintains an online crypto news website at www.NewCoins168.com.
In a news release, Warren Wang, CEO of CIIX, explained, “The Company endeavors to be on the cutting edge of blockchain technology and to stay ahead of the curve in an effort to continue to build shareholder value and increase revenues this year… This initial step into cryptocurrency mining positions the company to capitalize on a growing industry which could have tremendous upside potential.”
For more information, visit the company’s website at www.ChineseInvestors.com
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