Tagged: bitmain

Japanese Internet Giant GMO Exits Crypto Miner Hardware Manufacturing

GMO, a large Japanese Internet-service provider, announced December 25th that it is abandoning the manufacture of hardware for the mining of cryptocurrencies following “extraordinary losses” in the company’s cryptocurrency division in Q4 2018: “After taking into consideration changes in the current business environment, the Company… Read More

Bitmain IPO May Be in Trouble in Hong Kong

The Hong Kong Stock Exchange appears to be reluctant to approve crypto mining giant Bitmain’s application to go public there, possibly because the 2018 bear market is highlighting unreliability in crypto markets. “What they are doing is they are just dragging the case right now,”… Read More

Another One Bites the Dust: ETCDEV Joins Growing List of Failed and Contracting Crypto Start Ups

ETCDEV, a startup leading the development of Ethereum Classic, is dead, Bloomberg reports. “There are a few things that happened at the same time. I am sure if that happened a year ago, that wouldn’t be a problem at all, a year ago there was a… Read More

Six Months After Expanding, Bitmain Closes Israeli Development Centre

Poor prices and the “general decline” of crypto markets have claimed another casualty, Globes reports. This time it’s in Ra’anana, Israel, where a Bitmain development facility started in 2016 and expanded in July will be closed this week and 23 employees laid off. The facility’s… Read More

Chinese Crypto Miner Favouring “Financial” Over “Factory” Approach in Current Bear Market

At least one Chinese cryptocurrency miner is taking a creative financial approach to surviving “Crypto Winter” -the bear market currently punishing crypto prices to some of their lowest levels in over a year, 8BTC reports. Jin Xin, for example, “an ordinary Chinese miner,” is taking a… Read More

Israel Tax Authority Hunting Undeclared Crypto Profits

Over the past two weeks, the Israel Tax Authority has opened tax accounts for hundreds of Israelis it believes failed to report profits from cryptocurrency investing, Calcalist reports. The authority is also striking deals with Israeli crypto exchanges obliging them to report big transactions. Notices… Read More

United Corp Sues Bitcoin Cash ABC

The Citizens Jury Wheel Legal Court Trial Justice Judge Law

Plaintiffs in Florida have brought a suit against Bitcoin Cash ABC, it’s leader Roger Ver, the Kraken cryptocurrency exchange, and others, arguing the parties colluded, “to take control of the Bitcoin Cash network for personal gain…which caused a global capitalization meltdown of the Bitcoin Cash network… Read More

Crypto Mining Giant Bitmain Sued for Commandeering Customer Machines

A class action suit against the world’s largest cryptocurrency mining equipment maker and cryptomining conglomerate, Bitmain, has been filed in Northern California. The suit will test rumours circulating in crypto circles for some time that allege Bitmain used customers’ newly-purchased machines to mine crypto at… Read More

Chinese Crypto-mining Hardware Companies May Be Hit Hard By US Tariffs

New tariffs in the US that raise taxes on imports of crypto-mining machines from 2.6% to 27.6% may significantly impact revenues at Chinese companies like Bitmain, South China Morning News (SCMP) reports. The tariffs have come into place after American trade overseers in August reclassified, for… Read More

Crypto Entrepreneurs Mount China’s Rich List

Fourteen cryptocurrency million- and billionaires have made their way onto a list of China’s richest individuals for the first time, says Bitcoin.com. Perhaps predictably, at the very top of “The 2018 Lexus Lexus Huron Rich List,” in spots one to three, appear the entrepreneurs behind… Read More

China: WeiyangX Fintech Review

Bitcoin Mining Giant Bitmain Goes Public in Hong Kong On September 26th, Bitmain, a Beijing-based Bitcoin mining giant, finally disclosed its IPO prospectus to be listed on the Hong Kong Stock Exchange. CICC will serve as the sole sponsor. According to the prospectus, Bitmain’s net… Read More

Bitmain Announces New Crypto Mining Chip

Bitmain-ASIC-chip

Bitmain Technologies, a China-based consumer-grade ASIC miner, announced last week the launch of its ASIC chip BM1391 for mining cryptocurrencies using the SHA256 algorithm. According to Bitmain, the  ASIC SHA256 algorithm acceleration chip integrates more than a billion transistors and is optimized for maximum efficiency. It… Read More

Bitmain IPO – What it Means for Bitcoin

The recently announced $3 billion Bitmain IPO has left many crypto enthusiasts excited for the possibility of a legitimate publicly-traded crypto business. However, when a company creates an exit for a high margin cash flowing business, it usually indicates diminishing growth or margins.  This could… Read More

DPW Solves the Power Problem in Crypto Mining by Buying the Dam

“Diversified holding company” DPW has announced it will be reactivating a hydro dam in Valatie Falls, New York, “to serve as a fully-dedicated source of low-cost, renewable power for a new co-located cryptocurrency mining farm…” The “historic 1-megawatt Valatie Falls dam” has been retrofitted to… Read More

Howdy, Bitmain. World’s Largest Crypto Mining Company Expands Again, This Time to Texas

Bitmain, the world’s largest manufacturer of crypto mining equipment and its biggest producer of bitcoins has announced the launch of a $500-million data centre in Rockdale, Texas. The company says it will deploy the sum over 7 years and will create 400 local jobs in the… Read More

China: Cryptocurrency Mining Company Bitmain Reported to IPO at $14 Billion Valuation

Bitmain, a China based hardware and tech firm that produces some of the most popular mining servers in the cryptocurrency world, is said to be planning an initial public offering (IPO).  According to a report in Fortune, Bitmain is prepping to issue shares at a… Read More

Bitmain, Biggest Crypto Firm On Planet, Expands Again, This Time in Isreal

Cryptocurrency consortium Bitmain, the world’s most valuable crypto firm, has embarked on yet another expansion, this time in Isreal, where it plans to triple the size of the workforce at its Ra’anana development centre. Bitmain told Israel business news site Globes that it is adding… Read More

Bitcoin Mining Giant Bitmain Rents Twenty Thousand Feet of Silicon Valley Office Space

Following recent reports that it has established capacious bitcoin mining farms in Washington State and Quebec, the Beijing-based Bitcoin mining giant Bitmain is now renting offices in a Silicon Valley office tower called Riverpark Towers, CCN reports. Bitmain will occupy the last available vacancy in… Read More

Peter Thiel & Bitmain Invest in EOS Creator Block.one

Block.one, the creator of the EOSIO (EOS) blockchain protocol, announced on Monday that venture capitalist and entrepreneur Peter Thiel has invested in the company, along with other notable investors, Bitmain, Louis Bacon, and Alan Howard. According to Block.one, the investment round follows an earlier round… Read More

Circle Announces USD Coin & Bitmain Partnership

thought-catalog unsplash Bitcoin Ethereum Cryptocurrency

On Tuesday, Boston-based Circle announced it has formed partnerships with USD Coin and Bitmain. Founded in 2013, Circle offers four products: Circle Invest, which allows users to easily invest in crypto; Circle Pay, allows users to send money like a text; Circle Trade, the company’s OTC trading… Read More

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