Ruihe Shuzhi Technology Partners with Bitmain to Enter Bitcoin Cloud Mining
Hong Kong–listed Ruihe Shuzhi Technology has partnered with Bitmain to launch cloud-based Bitcoin mining services, expanding beyond its digital marketing and AI business. Founded in 2004 with a strong client base in China’s banking sector, Ruihe will rely on Bitmain’s infrastructure rather than operating costly rigs, paying service fees in exchange for steady mining income. The partnership signals rising institutional interest in crypto mining, with cloud mining offering a lower-cost, lower-risk entry route for firms new to the sector. Ruihe’s move could set a precedent in Hong Kong, positioning it as one of the first data-driven firms in the region to diversify into mining. However, risks remain significant. Profitability depends on Bitcoin’s price volatility, mining difficulty, and energy costs, while regulatory uncertainty persists, Hong Kong is relatively crypto-friendly, but mainland China remains restrictive. Notably, while cloud mining lowers entry barriers, it may yield thinner margins than self-owned operations over the long term, limiting upside potential.