Ruihe Shuzhi Technology Partners with Bitmain for Bitcoin Cloud Mining

Hong Kong-listed Ruihe Shuzhi Technology has partnered with Bitmain to launch Bitcoin cloud mining, expanding from AI and digital solutions into cryptocurrency.

Ruihe enters the Bitcoin mining industry

Hong Kong-based Ruihe Shuzhi Technology has signed a joint venture with Bitmain, one of the leading ASIC hardware producers. The partnership enables Ruihe to offer cloud computing services for Bitcoin mining. For the company, this is a new step beyond digital marketing and AI.

Founded in 2004, Ruihe has provided big data and analytics solutions to major Chinese banks. Instead of buying expensive mining rigs, Ruihe will rely on Bitmain’s cloud infrastructure. This approach reduces costs and operational risks, making Bitcoin mining more accessible.

Cloud mining as a growth strategy

Under the agreement, Ruihe will pay service fees to Bitmain and receive regular Bitcoin mining income. In the future, the company may purchase its own hardware to gain more control and lower expenses.

Bitmain, established in 2013 in Beijing, is best known for its Antminer series. Alongside hardware, the firm has expanded cloud mining services, allowing both institutional and retail clients to mine Bitcoin without handling equipment.

Institutional adoption and risks

Ruihe’s move reflects growing institutional adoption of cryptocurrency mining. Cloud mining lowers entry barriers, especially for firms without previous experience in the industry.

Still, risks remain. Profitability depends on Bitcoin’s price, network difficulty, and electricity costs borne by cloud providers like Bitmain. Regulatory factors also matter: mainland China maintains restrictions, but Hong Kong is more permissive toward crypto activities.