News and Awards
29 September 2021

Hatten Land unit inks deal to operate at least 1,000 cryptocurrency mining rigs in Malaysia

KUALA LUMPUR (Sept 29): Singapore Exchange (SGX)’s Catalist-listed Hatten Land Ltd has signed an agreement with Frontier Digital Asset Management Pte Ltd to jointly operate at least 1,000 cryptocurrency mining (cryptomining) rigs within Hatten Group's properties in Malaysia.

In a statement on Wednesday, Hatten Land said cryptomining rigs will be installed starting from the fourth quarter of this year (4Q21) in phases under the strategic collaboration and management agreement between Hatten Land's wholly-owned subsidiary Hatten Technology (S) Pte Ltd (HTPL) and Singapore-based Frontier, which currently operates over 700 cryptomining rigs in Singapore.

This comes after Hatten Land recently announced that it would repurpose its retail malls in Melaka for digital activities such as cryptomining and e-commerce, with these activities leveraging existing infrastructure and lower energy costs in Malaysia.

It added that such costs may be lowered further as Hatten Land instals solar panels on malls in an effort to turn its malls into hubs for energy-efficient or "green" cryptomining.


(Source: EdgeProp)