Bitcoin ASIC manufacturing giant – Bitmain – has reportedly fired four of its employees who leaked salary information and cited the “illegal publication of the company’s announcement on salary release” as the reason behind the move. It emphasized its “Management Standards for External Information Disclosure” once again in the notification, underscoring the requirement that employees...Read More
Core Scientific, Inc., a prominent player in high-performance blockchain computing data centers and software solutions, has revealed that Bitmain, a global leader in manufacturing digital currency mining servers, will be making a significant investment of $53.9 million in it. This move further strengthens the longstanding relationship between the two companies. Bitmain and Core Scientific have...Read More
Bitmain – one of the world’s largest manufacturers of bitcoin mining machines – revealed it would no longer deliver crypto mining rigs to mainland China addresses. However, the firm would continue shipping its products to overseas destinations. The Crypto Ban Reached Bitmain The Chinese crackdown on cryptocurrency mining and trading has affected Bitmain as well....Read More
Bitcoin mining company Riot Blockchain has decided to expand its mining capacity by purchasing 42,000 S19 Antimners from Bitmain, a Hong Kong crypto-mining products manufacturer. The purchase was worth at least $138.5 million and it’s part of the company’s plans to increase its Bitcoin mining hashrate, aiming at 7.7 EH/s by mid-2021 (an increase in...Read More
Bitmain co-founder Jihan Wu officially announced his resignation in a signed statement published on Tuesday. An excerpt from Wu’s cryptographic message reads: “The disagreement between Micree and myself, the two co-founders of Bitmain, has been finally settled in an amicable and, more importantly, a constructive manner.” As part of the settlement, fellow co-founder and rival...Read More
China’s MicroBT, one of the world’s biggest Bitcoin mining rig manufacturers, is planning to go public in the United States, according to local reports. MicroBT manufactures WhatsMiner and over the past year or so, it has gained a significant market share. In fact, it became the second-largest Bitcoin mining rig manufacturer in China, despite being...Read More
The controversies surrounding Bitmain continue as recent reports have it that Jihan Wu has allegedly been involved in illegal activities, putting his wills and interests above the law. New Reports Spark More Controversy Toward the end of last year, Jihan Wu, who had previously stepped down as the co-CEO of Bitmain, assumed control once again....Read More
The Chinese ASIC mining rig manufacturer Bitmain reportedly pulled in $300 million in revenue during Q1 2020. Meanwhile, as Bitmain claims to be regaining market share, the firm Ebang recently applied with the U.S. Securities and Exchange Commission (SEC) for initial public offering (IPO) status. However, the prospectus sent to SEC shows that while Ebang...Read More
Ousted Bitmain co-founder, Micree Zhan, has come out to oppose Bitmain’s plan to layoff about 50% of its workforce. According to Zhan, the Bitcoin (BTC) mining giant’s plan to sack employees was a mistake, given that the company was in a healthy financial situation. Earlier in January 2020, reports emerged that the Bitmain was planning...Read More
Two of the largest bitcoin mining chip manufacturers have plans to equip their products with 5nm chips in the near future. Just recently, China-based manufacturer Bitmain purportedly produced the world’s first 5nm test-grade bitcoin mining chip and more efficient mining rigs will see mass production next year. The firm Canaan also recently announced that the...Read More
At a time of intense competition in the bitcoin mining space, Nasdaq-listed crypto mining firm, Riot Blockchain, is ramping up operations. The company has purchased over 4,000 Bitmain Antimer S17 Pros for its Oklahoma mining facility in the last month. Riot Blockchain Bought 3,000 Bitmain Miners on Dec 4 You may not have heard of...Read More
High-powered bitcoin miners and next-generation semiconductors go hand in hand and as process node technology grows, SHA256 hashrate follows. Coinshares’ recent bi-annual mining report highlights that newly introduced mining rigs have “as much as 5x the hashrate per unit as their generational predecessors.” Advanced chip technology has grown relentlessly and it’s significantly bolstered ASIC device...Read More
Canaan shares recently crashed by as much as 40% on Nasdaq, which was likely caused by the continuous pressure on Bitcoin price. Bitcoin miners are in a tight spot once again, as Bitcoin’s price continues to experience pressure. Miners were known to withdraw from the mining industry when the price dropped in 2018, simply because...Read More
As the end of 2019 approaches, Coinshares Research has published its bi-annual mining report that contains informative research and observations about the bitcoin mining industry. Since Coinshare’s last report published in June, BTC’s hashrate grew by 50 exahash per second (EH/s) and the firm believes a decent portion of the power stems from China. Also...Read More
Chinese Bitcoin miners have extended their share of the global hash rate. Currently, they control two-thirds of Bitcoin’s processing power, Reuters reported yesterday, citing a research by CoinShares. Chinese Share of Bitcoin Hashrate Highest Since At Least 2017 Currently, Chinese miners control 66% of Bitcoin hashrate. The indicator refers to the Bitcoin-related computing power that...Read More
Bitmain is looking to establish a significant presence as it partners with two Bitcoin mining consulting firms. Meanwhile, co-founder Jihan Wu continues to consolidate his hold on the company amid an ongoing power struggle. Bitmain Partners with Bitcoin Mining Consultants in South America In a press release published on Thursday (December 12, 2019), Bitmain announced...Read More
As the reward halving approaches, bitcoin miners are preparing new strategies so customers can reap the most profits from their hashrate services. On December 3, the mining operation Poolin introduced a hashrate auto-switch feature so clients can automatically switch between BTC and BCH mining. Moreover, a few days later at Bitmain’s annual customer appreciation meeting,...Read More
Bitmain, a leading bitcoin miner, has secretly filed for an IPO that is sponsored by Deutsche Bank, a German multinational company, as reported by Tencent News. The company has been struggling to bounce back since crypto winter. The black swan event dampened demand for cryptocurrency mining machines, causing profitability to plummet. The reported secret filing...Read More
Encryption startup NuCypher raised $10.7 million in an agreement for future tokens (SAFT). The firm’s investment round was led by San Francisco-based Polychain Capital. NuCypher also announced that it has launched its public testnet. The company’s main product is based on proxy re-encryption, which encrypts files being sent to individual and administrator accounts. It controls...Read More
Bitmain, the world’s largest maker of bitcoin mining equipment, has been named the third hottest startup to work for in China. | Source: Shutterstock China has held the crown for being the home of some of the largest makers of bitcoin mining equipment for years now. According to LinkedIn, one of these bitcoin mining rigs...Read More
Showing renewed optimism, Bitmain is increasing its investments in the crypto mining industry. Now, Bitmain is reportedly buying 600,000 new crypto mining chips. As a result of this new investment, the company expects to make over $1 billion in profits. Bitmain to Increase its Capacity By 50% Hash rate The battle to produce fast cryptocurrency...Read More
According to a recent update on the Chinese social media network WeChat, a source close to the chip-manufacturing firm, Taiwan Semiconductor Manufacturing Company, revealed that Bitmain has reportedly placed an order for 600,000 mining chips. If true, this hige bid is likely to bring in huge profits for Bitmain. Interestingly, this batch includes the latest...Read More
Bitmain firm, Bitcoin (BTC) mining giant is purchasing more crypto mining chips that could result in a surprising profit of $1.2 billion. Cryptocurrency mining giant Bitmain Technologies will boost its size by roughly 50% in the next six months behind a supreme hardware order as leaked by the nearest source. Bitmain Technologies Targets 50% Capacity...Read More
Bitmain Technologies, one of the Cryptocurrency mining giant announced that it has placed a new order to buy 600,000 mining machines. As per the reports, part of the machines includes the latest 7nm model, with a hashrate of 50TH/s. Based on the hashrate, Bitmain’s total hash power is expected to jump by about 50% after...Read More
On August 19, the combined SHA-256 hashrate between the BCH and BTC networks touched a massive high of over 91 exahash per second (EH/s). One notable contribution to today’s network hashrates is the manufacturing of next-generation mining rigs that produce a significant number of terahash. Currently, the top machine released this summer is Pangolin’s Microbt...Read More
