SMI Vantage, on May 12, announced that it has begun cryptocurrency mining operations in Bandar Seri Begawan, Brunei.
The company has signed leases with two locations. It is expected to sign two more leases in the near future.
All four locations will be able to house 1,500 cryptocurrency mining machines, which form part of the 3,000 cryptocurrency mining machines previously announced.
The shipment of the remaining 1,500 cryptocurrency mining machines has been delayed by various supply chain impediments in China.
SMI Vantage owns the remaining 1,500 cryptocurrency mining machines and expects to ship them to Brunei within the next two to three months.
“Although we are slightly behind the original timeline, I am pleased that we have started cryptocurrency mining in both Malacca and Brunei. We are currently developing our plans to acquire the latest cryptocurrency mining machines, and we’ll make further announcements about this in due course,” says Mark Bedingham, president and CEO of SMI Vantage.
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Shares in SMI Vantage closed 0.3 cent lower or 6.67% down at 4.2 cents on May 12.
