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Powerbridge Technologies entered into a new partnership with Cryptodigital Holdings for the acquisition of bitcoin and ethereum miners.
In an announcement from the blockchain developer, it stated a new partnership with Cryptodigital Holdings in their bid to acquire miners. The holdings firm will provide “related services” to Powerbridge for its new expansion into crypto mining.
The agreement calls for a certain number of bitcoin and ethereum miners and developers to be given to Powerbridge for mining operations in Asia and North America.
The President and CFO of Powerbridge Technologies, Stewart Lor, called the partnership “strategic” in a statement on the development.
“We look forward to working with Cryptodigital’s team of industry-leading professionals and leveraging their resources to consistently acquire miners,” he said. “In addition, we will work closely to develop and manage our global mining operations. We believe that our partnership will substantially drive the Company to achieve a competitive level of mining fleet and hashrate.”
Powerbridge Technologies is a Nasdaq registered company consisting of two branches: Powerbridge SaaS and Powerbridge Blockchain.
Powerbridge SaaS works on the integration of emerging tech such as AI, big data, and IoT technologies as SaaS solutions. The solutions appear in international trade, e-commerce, and other use cases.
Whereas Powerbridge Blockchain branch focuses on network services, industry-specific blockchain solutions, and now mining.
Global Mining Concerns
Until now, crypto mining sparked major concerns from industry insiders and environmentalists. Many worry the environmental impact of mining, via the energy consumption, is unsustainable. In the recent past, environmentalists boycotted mining facilities.
Given that the decentralized space brims with innovation, greener solutions are on the horizon.
Last week iMD Crypto Mining reported a solar-powered upgrade to their mining facilities, as a more sustainable alternative. Prior to that Clean Spark mining also revealed their microgrid solution to improve sustainability.
Despite the opposition and backlash, the mining community is not ready to keel and continues to search for sustainable methods. Powerbridge Technologies’ Stewart Lor mentioned sustainability practices in both updates.
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