China’s number-two Bitcoin mining equipment manufacturer, Canaan, is reportedly considering an initial public offering (IPO) in the United States. The new development comes after the company shelved plans to go public in Hong Kong just a few months ago. Although an IPO would be a great way for Bitcoin mining companies to raise funding, the…
While Bitmain has made forays into artificial intelligence and other budding markets, at heart, Bitmain is a Bitcoin– and crypto-centric mining startup. So, it should come as no surprise that industry participants were shell-shocked when hearsay arose that Bitmain was poised to shutter a number of its mining-related ventures. However, one crypto analyst has claimed…
The bear market of 2018 has hit crypto mining companies particularly hard as mining on certain types of hardware is no longer profitable. Falling prices and hashrates have dropped difficulty somewhat but not enough to prevent the founders of the world’s largest mining company to step down as it readies to appoint a new boss.…
The ESG-focused mining company HIVE is the latest organization to sign a deal with Intel. It joins Block, Argo Blockchain, and GRIID, as the first clients and testers of the giant’s new ASICs. Intel’s Bonanza Mine project is quickly becoming one of bitcoin’s stories of the year. It’s funny that, so far, no one has…
According to several reports, crypto mining giant Bitmain is running out of funds. And it could be bad for Bitcoin Cash and Litecoin. $315.5 million worth of Crypto-Assets Kyle Samani, the co-founder of Multicoin Capital, a crypto fund, warned in a Tweet that Bitmain would liquidate its crypto-assets to accumulate fiat-funds for its business operations.…
Many have been wondering which group represents the majority of crypto bears recently as prices keep plummeting. Those that got into crypto within the last year have likely fled the scene with tails between their legs and burnt fingers. That leaves long term hodlers, institutional investors, and Chinese crypto miners. Chinese Miners Playing the Short…
Beijing based Bitcoin mining hardware manufacturing giant Bitmain has announced the sales details for the company’s latest range of crypto-specific chips. According to the company, the Antminer 17 series will be capable of mining more than 50 trillion hashes per second. Sales will take place in two batches over the next two days. Shipping is…
In their December report, Marathon Digital Holdings announced their total BTC holdings. And assured their investors that they were not selling any of it any time soon. This is particularly interesting considering the company bought “a record number” of S19s in December. Reportedly, they got a giant loan using Bitcoin as collateral. An operation we’ll…
Bitmain Technology, the world’s largest crypto mining equipment manufacturing firm, is going to replace its chief operating officers Jihan Wu and Ketuan Zhan with a new appointee, reported the South China Morning Post. The news follows months of speculation about Bitmain losing billions in the final quarter of 2018. Earlier in December 2018, the Beijing…
Back in the days of the Wild West, gold prices would dictate the profitability of prospecting and mining. Around 150 years later not much has changed with regards to the economics of mining, however the commodity is a little different now. Flagship Mining Rigs No Longer Profitable Bitcoin has had its roughest week this year…