HK alcohol company buy 51% bitcoin miner ?

[Mic85saint]

ASEAN country always make surprise move regardless Chinese government tries to do so ,  popular investments among everyday people in China. 

[npredtorch]

I thought this was a joke since you haven't add any reference to your post.
Anyway, for those who are interested on this news - kindly check it on Bitcoin.com - Hong Kong Alcohol Company Buys 51% of Bitcoin Miner for $60 Million

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It feels lively that there are still people out there willing to invest and take the risk after a consistent bad news regarding ban & controversies in the crypto world.
This is the best break. I wouldn't be surprised if another ATH will be hit by the end of 2018.

[alani123]

That's quite an aggressive investment. Granted, that Bitmain has done everything to keep mining a monopoly I don't think this could turn out too well. Bitmain is always going to have cheaper electricity, labor and everything required to produce better and more equipment. At the end of the day, that's why so many mining companies went bankrupt. 

[batang_bitcoin]

Anyway, for those who are interested on this news - kindly check it on Bitcoin.com - Hong Kong Alcohol Company Buys 51% of Bitcoin Miner for $60 Million

I've been looking for the link, thanks for including it.

It feels lively that there are still people out there willing to invest and take the risk after a consistent bad news regarding ban & controversies in the crypto world.
This is the best break. I wouldn't be surprised if another ATH will be hit by the end of 2018.

They do believe that bitcoin is still in the early phase so investing that big amount from Diginex Ltd. will bring in large encouragement from other companies as well.
And it can also give their competitors a break that they should start investing to bitcoin / crypto / miners as well.

[npredtorch]

That's quite an aggressive investment. Granted, that Bitmain has done everything to keep mining a monopoly I don't think this could turn out too well. Bitmain is always going to have cheaper electricity, labor and everything required to produce better and more equipment. At the end of the day, that's why so many mining companies went bankrupt. 

I'm sure it went on a process. A large company like that wouldn't blindly invest onto something that they don't know.
That $60m was not a one man and one day decision. Also, they can make partnerships and hire some advisors to know whats best to do with it. (they might already have)