VCI Global Enters Into Partnership to Develop Large-Scale Bitcoin Mining Opportunities

KUALA LUMPUR, Malaysia, June 13, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, “VCIG”, or the “Company”), is pleased to announce a strategic partnership aimed at advancing large-scale Bitcoin mining farm. VCI Global will collaborate with Emerging Hub Limited (“Emerging Hub”), a company co-founded by Mr. Wallace Ma, who is well established in this sector with extensive experience in the industry with 6,000 Bitcoin miners currently in operation.

According to Statista, as of June 2024, Bitcoin’s market capitalization continues to grow, reaching US$ 1.39 trillion with an annual growth rate of 178.4%, reinforcing its position as a leading store of value in the cryptocurrency landscape. This unique proposition makes Bitcoin an attractive investment choice, distinguishing it from traditional assets. As VCI Global and Emerging Hub embark on their strategic partnership to advance large-scale Bitcoin mining farms, they recognize the inherent stability and growth potential that Bitcoin offers.

In phase one of this partnership, a 35-megawatt (MW) Bitcoin mining farm will be developed, expected to accommodate 10,000 Bitcoin mining rigs that together are forecasted to generate over 2 exahashes per second (EH/s), projected to yield over 500 Bitcoins by the end of the first year. Subsequently, production will gradually increase, and more mining rigs will be added in subsequent phases. The objective is to mine over 2,000 Bitcoins within a five-year period. Based on the current market price of over US$ 65,000 per Bitcoin, this would value the total mined Bitcoin at around US$ 130 million, without considering any price appreciation. Under this arrangement, VCIG anticipates securing a 30% share of the mined Bitcoin.

VCIG and Emerging Hub have initiated negotiations with certain government bodies and a prominent energy player, who will be supplying environmentally friendly Liquefied Natural Gas (LNG) to power the mining machines, ensuring sustainable and efficient operations.

“Our venture into Bitcoin mining is not only about embracing innovation but also positioning ourselves at the forefront of the digital economy’s evolution. Bitcoin represents a paradigm shift in monetary systems, embodying scarcity and security in our increasingly digital world. As the most secure and decentralized digital asset, Bitcoin stands as a robust store of value. Its limited supply and growing market capitalization offer significant potential for value appreciation, especially as it garners mainstream acceptance through initiatives like ETF launches and regulatory approvals by major institutions,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

About VCI Global Limited

VCI Global is a diversified holding company. Through its subsidiaries, it focuses on consulting, fintech, AI, robotics, and cybersecurity. Based in Kuala Lumpur, Malaysia, our main operations are centered in Asia, with significant visibility across Asia Pacific, the United States, Europe, and the Middle East. VCIG primarily offers consulting services in capital markets, real estate, AI, and technology. In technology businesses, the company operates a proprietary financing platform that serves companies and individuals, as well as a secured messaging platform serving governments and organizations. We also invest, incubate, accelerate, and commercialize businesses and technologies in AI and robotics.

For more information on the Company, please log on to https://v-capital.co/. 

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (SEC). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

CONTACT INFORMATION:

For media queries, please contact:

VCI Global Limited
enquiries@v-capital.co


VCI Global Enters Into Partnership to Develop Large-Scale Bitcoin Mining Opportunities

THỦ THUẬT HAY

Hướng dẫn cách tải Worms Zone.io MOD APK nhanh nhất 2023

Mọi người đều biết về game Snake mà mọi người thường chơi trên điện thoại di động Nokia là một trong những trò chơi nổi tiếng và sống động nhất đối với mọi lứa tuổi trong những năm 2000. Tuy nhiên, sẽ rất thú vị khi

Những "lỗi vặt" phát sinh khi cập nhật iOS 15 cho iPhone

Sau khi cập nhật iOS 15 cho iPhone nhiều người dùng phàn nàn thiết bị của họ gặp một số lỗi khó như: Thông báo bộ nhớ đầy, lỗi Notifications,

Cách tải và cài Outlast về máy tính, game bệnh viện kinh hoàng

Outlast là tựa game kinh dị được game thủ đón nhận với cốt truyện hấp dẫn kèm theo cách chơi kinh dị gây ám ảnh. Nếu bạn là một fan của các dòng game kinh dị thì không nên bỏ qua tựa game này cũng như tải Outlast và

Các phần mềm sao lưu dữ liệu cho iPhone tuyệt vời nhất

Sao lưu dữ liệu trên thiết bị iOS là công việc tương đối dễ dàng, nếu bạn đang dùng những thiết bị sử dụng hệ điều hành iOS nhưng khá khó khăn nếu người dùng sử dụng trên hệ điều hành Windows. Dưới đây là những phần mềm

Sử dụng trình duyệt Opera cho di động

Đây là hướng dẫn chung cho trình duyệt Opera Mini hay Opera Mobile trên điện thoại di động. Một số thiết lập có thể có hoặc không, tùy thuộc vào từng phiên bản trình duyệt, loại điện thoại và nền tảng. Xem thông tin về

ĐÁNH GIÁ NHANH

Đánh giá nhanh LG V30+: Có gì khác biệt so với đàn anh LG V30?

Để nói V20 hay V30+ đâu là sản phẩm hấp dẫn hơn thì thực sự rất khó bởi mỗi sản phẩm đều có những đường nét riêng ưu điểm và nhược điểm khác nhau, cũng như tuỳ vào con mắt thẩm mỹ của người dùng.

Đánh giá Lenovo Ideapad S130: Laptop giá rẻ, kích thước nhỏ, pin cực trâu

Nhắc tới những mẫu laptop 11 inch thì hẳn chúng ta không thể không nhắc tới hãng Lenovo với những mẫu máy tính xách tay 'mini' này. Hôm nay mình xin giới thiệu cho các bạn chiếc laptop mới có tên Ideapad S130.