Singapore-Myanmar investment company SMI purchased 800 miners and switched to mining services.

On August 25, Singapore-listed company Singapore Myanmar Investment Corporation (SMI) announced the purchase of 800 cryptocurrency miners, which will be deployed in Southeast Asia. The first batch of machines will be delivered in the next two to three months. The company's CEO, Mark Bedingham, said that this move would provide cryptocurrency mining to the company's retail customers while also bringing great value to shareholders. SMI previously focused on the travel and fashion retail, automotive and construction services, and logistics industries. It said last month that its business would shift to software services, including a cryptocurrency cloud mining platform, which will initially focus on Bitcoin, Filecoin, and Chia mining.