Tagged: bitmain

Report: Layoffs at Cryptomining Giant Bitmain as Company Anticipates Possible Revenue Squeeze from Upcoming Bitcoin “Halving”

Bitmain, one of the world’s largest manufacturers of cryptocurrency mining hardware, says it is reducing staff in order to head off a revenue squeeze that could occur when Bitcoin “halves” in May, Sina reports. Although, “the company is now operating normally and the cash flow… Read More

Former Bitmain Hardware Designer and Founder of Rival MicroBT Accused of Embezzlement in China

Chinese authorities have arrested Yang Zuoxing, an electronics engineer who reputedly designed several of Bitmain’s most popular “Antmine” cryptomining rigs in 2016 before he left and started a rival firm called MicroBT. Since then, Coindesk reports, MicroBT, based in Shenzhen, has reportedly captured about 40% market… Read More

Bitmain’s Jihan Wu Hosts First Promotional Meeting Since Ouster of Co-Founder, Micree Zhan

Details have emerged regarding Jihan Wu’s plans to regroup cryptomining hardware giant Bitmain and restore company fortunes after the hostile ouster of co-f0under Micree Zhan earlier this fall. Zhan, an electrical engineer, and Wu, a Beijing tech entrepreneur, co-founded Bitmain in 2013. As one of… Read More

Large-Scale Data Infrastructure Provider Compute North Launches 100+ Megawatts Facility in Kearney, Nebraska

Compute North, an established provider of high-powered, large-scale data infrastructure, recently revealed that it has launched its biggest co-location facility in Kearney, Nebraska. The new data center facility is the company’s third site. Other sites are based in Texas and South Dakota. Compute North’s latest… Read More

“Dismissed” Bitmain Co-Founder, Micree Zhan, Vows Legal Action in Open Letter

Gavel Court Legal Trial Law rawpixel unsplash

Micree Ketuan Zhan, co-founder of Bitmain, the world’s largest manufacturer of cryptocurrency mining hardware, has promised in an open letter to take legal action against colleagues who “dismissed” him suddenly at the end of October. According to a translation of the letter obtained by The… Read More

Bitmain, World’s Largest Manufacturer of Cryptomining Hardware, Files for IPO in New York

On the heels of yesterday’s news that competitor Canaan has filed an IPO prospectus to go public on the Nasdaq comes a report that Bitmain, the world’s largest manufacturer of cryptocurrency mining hardware, is also seeking to go public on a New York Stock Exchange…. Read More

Co-Founder of Cryptomining Giant Bitmain, Micree Zhan, “Dismissed”

Micree Ketuan Zhan, majority stakeholder of world’s largest crypto mining hardware manufacturer, Bitmain, appears to have been forced out of the company he helped found with Jihan Wu. Chinese media including Sina reported on the developments, which appear to have been confirmed in an email… Read More

Bitmain’s Back: Cryptomining Giant “Fulfils” Promise to Create Facility in Texas

Rockdale, Texas, a former coal and aluminum producing town hit hard by the exit of those industries. DMG (TSX-V: DMGI), a Canadian firm, will provide hosting and management services for the Texas facility and will work with Bitmain to expand the capacity and to ensure… Read More

Bitmain Set to Launch Digital Mining Map

Bitmain, a manufacturer of cryptocurrency mining hardware and operator of crypto mining pools, announced on Friday it is planning to launch a platform to connect mining hardware owners with mining farm owners through the World Digital Mining Map (WDMM). The company reported: “To remain price-efficient,… Read More

Bitmain Alleges Fraudulent Use of Name by Mangocoin (MGC)

Bitmain, the world’s largest cryptomining firm and manufacturer of cryptomining equipment says the company name is being fraudulently used by a project called “Mangocoin.” “We recently become aware of the fraudulent use of the ‘Bitmain’ brand in the sale of a product named ‘Bitmain Cloud… Read More

Adios, Amigo: Proposed $500 Million Bitmain Cryptomining Facility Dormant in Texas

Development of “the largest data centre in the world,” in Rockdale, Texas, has slowed to a halt less than a year after the facility was announced by Bitmain, the world’s largest cryptomining firm, Wired reports. While courting officials in the region, Bitmain representatives promised to… Read More

Report: Former Bitmain CEO Working to Create “Biggest OTC (Crypto) Desk…Overnight”

Jihan Wu, departed CEO and co-founder of the world’s largest crypto-mining hardware producer, Bitmain, will launch an OTC cryptocurrency custody and trading desk called Matrix within a month, sources to  The Block report. The unnamed commenters also believe the exchange will have a tremendous advantage in… Read More

Bitfury Confirms Layoffs at Hut 8 Cryptocurrency Mines in Alberta

The price of Bitcoins made a newsworthy jump of 20% last Monday morning, and that gain is still holding, but the lean early months of 2018 saw a second round of layoffs at Hut 8, “Canada’s largest cryptocurrency miner,” CBC reports. Hut 8 runs 85… Read More

Bitmain’s Hong Kong IPO Application Lapses

An IPO application submitted by Bitmain to the Hong Kong Stock Exchange in September has lapsed. Bitmain is the world’s largest crypto-mining consortium. The company operates numerous crypto mining and research facilities across the globe and also designs and manufactures some of the industry’s most… Read More

Bitmain Says its New Equihash Cryptominer 3X Faster

Bitmain-ASIC-chip

One of the world’s largest cryptomining companies, Bitmain, has announced the release of a new crypto mining machine it claims is three times faster than its previous model. The new “Antminer Z11” is designed for the dedicated mining of cryptocurrencies that use the Equihash algorithm… Read More

Bitmain Debuts Next Generation 7nm ASIC Chip for SHA256 Mining

Bitmain-ASIC-chip

Bitmain Technologies, a China-based consumer-grade ASIC miner, announced on Monday the launch of its next-generation 7nm ASIC chip, BM1397. According to Bitmain, the new chip achieves new feats in performance, chip area and energy efficiency for mining cryptocurrencies such as Bitcoin (BTC) and Bitcoin Cash (BCH),… Read More

Monero Crypto Network Plans Fork to Buck ASIC Miners Once and For All

Fork

Developers of the privacy-cryptocurrency Monero have announced they’ll be “forking” (making code changes to) their network, changes that will reportedly make it impossible for “miners” using powerful ASIC-chip-laden machinery to process transactions on the network, Blockchain Reporter states. The change, which is scheduled to take… Read More

Hong Kong Stock Exchange Head Suggests Bitmain Business Model Unsustainable, IPO Unlikely

The rumoured appointment of a new CEO at cryptomining giant Bitmain does not appear to have enhanced the company’s prospects of going public in Hong Kong, South China Morning News reports. Responding generally to media questions about cryptomining firms seeking IPOs in Hong Kong, Charles… Read More

Contractions at Bitmain, World’s Biggest Cryptomining Firm, Continue in Austin and Amsterdam

“We had welcomed this.” Locals in Rockdale, Texas, a small town east of Austin that recently lost two of its largest employers and 30% of the local tax base, are disappointed to learn that Bitmain, the world’s largest manufacturer of cryptocurrency mining equipment and operator… Read More

More Details Emerge About Possible Executive Succession, IPO, and Layoffs at Bitmain, World’s Largest Cryptomining Firm

A new CEO is already in place at Bitmain, the world’s largest manufacturer of cryptocurrency mining equipment and operator of crypto mines, a source to Hong Kong news outlet The South China Morning Post (SCMP) claims. Though Bitmain itself has refused to confirm the change, a former… Read More

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