Powerbridge technologies has entered into a new partnership with Cryptodigital holdings for the acquisition of Bitcoin and Ethereum miners, the partnership aims to achieve a competitive level of miners and hashrates.
The blockchain developer announced a new cooperation with Cryptodigital Holdings in their pursuit of miners in a statement. For Powerbridge’s new crypto mining development, the holdings company will supply “associated services.”
Powerbridge will be allocated a set number of Bitcoin and Ethereum miners and developers for mining operations in Asia and North America, according to the deal.
In a statement on the development, Stewart Lor, President and Chief Financial Officer of Powerbridge Technologies, termed the cooperation “strategic.”
“We are looking forward to collaborating with Cryptodigital’s team of industry-leading professionals and leveraging their resources to acquire miners on a consistent basis,” he stated.
“We’ll also collaborate closely on the development and management of our global mining operations. We believe our collaboration will help the company reach a competitive mining fleet and hashrate.”
Powerbridge Technologies is a Nasdaq-listed firm with two divisions: SaaS and Blockchain.
Powerbridge SaaS is a SaaS company that focuses on integrating new technologies like AI, big data, and IoT. International trade, e-commerce, and other use cases are examples of where the answers can be found.
The Powerbridge Blockchain branch, on the other hand, is focused on network services, industry-specific blockchain solutions, and, most recently, mining.
Concerns about global mining
Industry insiders and environmentalists have been concerned about crypto mining up until now. Many people believe that mining’s environmental impact is unsustainable because of its energy usage. Environmentalists have been boycotting mining operations in the recent past.
Greener solutions are on the horizon, thanks to the decentralized space’s burgeoning innovation. As a more sustainable alternative, iMD Crypto Mining announced a solar-powered improvement to its mining operations last week. Clean Spark Mining had already shown its microgrid solution for increasing sustainability.
Despite the opposition and backlash, the mining industry remains committed to finding long-term solutions. In both updates, Stewart Lor of Powerbridge Technologies addressed environmental practices.
