Future FinTech Plans to Build Mining Facility in the U.S.

Future FinTech Group ($FTFT@China) is a leader in the blockchain-based e-commerce industry, and now it’s delving into crypto mining. On Friday, the firm announced that it plans to build a wholly-owned subsidiary called FTFT Super-Computing. This new division of Future FinTech will operate in Ohio, managing the company’s cryptocurrency-mining project. As part of the project, APC Service Ltd. will join the project and provide the processing power needed to move forward. Currently, the company has identified an existing facility it can use, and upgrades should be completed by June of 2022. The overall capacity of the facility will be 300MW, consisting of 6 50MW expansion projects. At press time, Future FinTech stock was down nearly 4% at just over $1 per share.