A Chinese Manufacturer Enters the Filecoin Mining Space

A Shenzhen-based manufacturer, New Universal (Newu), had announced their start in the Filecoin mining space. The company purchased $90 million worth of the computing and storage equipment from Sesamg, a manufacturer from Jiangxi.

To begin with, Sesamg will ship 500 computers and 100 storage units to Newu. The company expects to have 119% revenue of their 2019 numbers thanks to the engagement with Filecoin mining.

Filecoin mining is becoming popular among Chinese companies. Back in February, a Chinese NASDAQ-listed gaming company The9 signed a $1 million contract on purchasing the equipment for Filecoin mining. FIL is growing steadily and is traded at around $76 at the moment.

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