Huobi Mall issued a letter of intent for cooperation to Central Global Berhad Malaysia to jointly build a 500 MW,“Global Data Base Centre”processing centre.
Huobi Mall China Announce a Strategic Partnership with Central Global Berhad (KLSE Code 8052) Malaysia Towards a Joint Venture to Build a Global Data Base Centre in Malaysia
Huobi Mall is a global online trading platform that focuses on the sales of crypto mining machines as well as custody of these machines. Today, Huobi Mall announces the joint partnership with the CIC Construction Sdn Bhd in Malaysia.
Together, the companies have decided to partner and invest on a 500-megawatt power that will be used to build and complete a “Global Data Base Collection Centre” that will be located in the state of Sarawak in Malaysia.
Huobi Mall is a subsidiary of Huobi Group, and an integral part of the larger Huobi global ecological strategy. The organization was initially started in August 2020, after the joint efforts of Dong Hong Technology and Huobi Group.
Huobi Mall is a dedicated entity that focuses on building new data mining machines and trading systems that enhance the blockchain ecosystem service standard in the current cryptocurrency era. Being in the blockchain industry, Huobi Mall provides several types of supercomputing server transactions such as secured transactions which are fundamental in trading.
The strategic partnership is expected to improve the performance and scope of Huobi Mall as a company focused on BIG DATA Circle, developing eco-payment systems, Center Purchases, and manufacturing of data saving systems supply. This comes as an awakening call considering the current trends that have been experienced in the cryptocurrency market.
By completing this project, the company is anticipated to increase its market cap and market share by a considerable percentage which will increase shareholder equity. With a value of $1.244 billion, the return on investment on the project will significantly attract interest for all participants.
The “Global Data Base Center” project will be conducted in three phases and is expected to be completed after 12 months. The initial phase of the project will involve the construction of a 100MW center, followed by 150MW and the last phase of the project will be 250 MW. In terms of investment, phase 1 A will require $1.33 million, phase 1 B will require $1.55 million, and phase 1 C will require $3.08 million. Machinery will require $1.238 billion.
As recorded in the memorandum of understanding, both parties have agreed that they will be responsible for their assigned duties and no party shall be held liable for the failure of responsibility of breach of agreement. The project is a strategic venture that will unite the two companies on a strategic level to optimize opportunities that are available in the cryptocurrency industry.
“I believe that our extended partnership will bring new innovations and business opportunities for both companies. Huobi Mall has been known for its performance in designing data mining machines and improving the blockchain ecosystem. We anticipate that the project will uphold these standards.” , “So far, we consider this project as one of the main mega projects that we have been able to participate in this year. We are honored to declare that we will partner with CGB Malaysia in building a Global Data Base Center in Malaysia that will improve data collecting,data mining and saving in the region. Completing this project will set our company Huobi Mall on a global map.” CEO, Huobi Mall.