Singapore Myanmar Investco has entered into a non-binding memorandum of understanding (MOU) with Hatten land to jointly explore opportunities in cryptocurrency mining activities in Malaysia.

Under the MOU, which will come into effect from September 30 2021, the SMI and Hatten Technology, Hatten Land’s subsidiary, will work to develop a business plan to evaluate whether a sustainable long term business model can be created for both parties.

“This includes discussing and developing cryptocurrency mining activities and evaluating the installation of cryptocurrency mining machines in Melaka, Malaysia, subject to finalisation of the business plan, legal entities and any required regulatory approvals, should the study prove positive."

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