Hello Pal initiates mining operations in Australia
Hello Pal, a proprietary suite of mobile applications that focuses on social interaction, language learning, and travel, has confirmed the commencement of mining operations in Australia, as per a recent press release
Hello Pal to operate in Victoria
As per the press release, the firm is set to operate in a state in southeast Australia called Victoria, while the actual location remains undisclosed. The site will house around 100 Bitmain Antminer L7 Mining Rigs, which are now fully operational and have commenced mining Litecoin (LTC) and Dogecoin (DOGE)."We are excited for our mining operations to resume again and pleased that we have been able to diversify the location of our rigs with this Australian mining facility," said KL Wong, Founder and Chairman of Hello Pal. "We look forward to the remaining 300 mining rigs in North America to also commence operations soon."
The press release claims that the mining equipment has a hashrate of 9500 MH/s, which is around 19 times more potent than that of the previous L3+ model. Furthermore, with an earlier stability rate of 70%, Hello Pal has hugely improved in terms of comparatively less power-consuming equipment and a stability rate of 98%. Profit margins are expected to jump considerably.
Moreover, of the total 100 rigs, CPal Technology Limited owns around 75, while Hello Pal Asia Limited owns the other 25. The data center established in Australia also has the capacity to handle about 20,000 rigs.
Is Australia a new crypto hub?
Australia has seemingly become a crypto-friendly hub as the nation has been attracting a lot of attention from exchanges and firms. Recently, FTX revealed its plans to expand into the country followed. Moreover, the Australian Bitcoin exchange-traded fund or ETF is also expected to start trading on the Cboe exchange by the next week.Continue reading by joining Cryptonary Pro
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