Chinese telecom provider Coolpad Group is expanding its reach into the cryptocurrency market with a significant investment in Bitcoin mining rigs. The company has allocated $13.5 million to purchase 2,700 Bitcoin mining servers from Hong Kong-based JingYun Intelligent Technology. This move aims to enhance Coolpad's computing power in North America, increasing its capacity from 873,000 TH/s to 1,504,800 TH/s.

Coolpad, primarily a mobile phone and accessories manufacturer, has been exploring opportunities in the Web 3.0 digital currency space since mid-2023. This investment marks a significant step into the cryptocurrency market, following a $28 million investment plan in May to acquire shares in crypto asset companies listed on Nasdaq.

By diversifying its business into Bitcoin mining, Coolpad seeks to capitalize on the growing demand for cryptocurrency. This strategic move demonstrates the company's commitment to exploring new avenues for growth and expansion. As the cryptocurrency market continues to evolve, Coolpad's investment in Bitcoin mining rigs positions the company for potential long-term success in this emerging field.

In conclusion, Coolpad's $13.5 million investment in Bitcoin mining rigs signals a significant shift in the company's strategy, as it ventures into the cryptocurrency market. This move has the potential to bring substantial returns and solidify Coolpad's position in the Web 3.0 digital currency space.