Bitmain, the prominent Bitcoin mining machine manufacturer, finds itself at a crossroads as it grapples with financial instability amidst the ever-volatile cryptocurrency market. The company’s recent decision to suspend a portion of its employees’ salaries for September has sent shockwaves through the industry and raised questions about the sustainability of their operations. Bitmain’s financial woes […]
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Bitcoin Mining: Bitmain Hit With Hefty Fine, NC County Considers Halting Mining
According to a report, the world’s largest Bitcoin mining machine company, Bitmain, was slapped by the Beijing tax bureau in April with a hefty fine of about $3.55 million. The company was found guilty of mainly unpaid personal income taxes, as the Chinese government has been ramping up its tax inspections on the cryptocurrency industry […]
Riot Ramps Up Bitcoin Mining: Jan 2023 Production & Operations Report
Industry leader Riot has announced impressive production updates for the month of January 2023. The self-mining operation saw a significant increase of 62%, with a record-breaking 740 Bitcoin (BTC) produced, compared to 458 BTC produced in January 2022. Riot Bitcoin Mining Continues To Soar Despite Winter Storm Setbacks Riot CEO Jason Les expressed pride in […]
Zhidu Technology Takes Impairment Provision for Bitcoin Investment, Totaling $16M
Zhidu Technology, a listed company in China, has announced its plans to make an impairment provision for Bitcoin worth $16 million generated from cloud mining purchased from Bitmain. Zhidu is a shareholder of both Bitmain and BitDeer. The 9th board of directors’ 16th meeting and the 9th supervisory board 10th meeting, held on January 30, reviewed and […]
Regulatory scrutiny “very healthy” for the crypto industry, Bitmain’s Jihan Wu suggests
The regulatory pressure on the crypto-verse hit a new high this time. From countries like China banishing the entire crypto mining industry to an array of regions ousting Binance, the crypto industry endured a significant setback these last couple of days. The founder of a prominent crypto mining firm believed that regulatory pressure was, in […]
Bitmain rolls out Dogecoin and Litecoin mining equipment amidst China’s big mining crackdown
Prominent crypto mining equipment manufacturer, Bitmain had been making immense news throughout the last two years following its shake-up in management. However, the mining company has made headlines yet again with its latest launches. Bitmain’s saga became so well-known that the entire crypto-verse was talking about it. While the firm’s founders fought for a long […]
Bitmain Founders Finally Meet Midway As They Agree On A $600M Settlement
The crypto industry is home to several feuds while some are with law enforcement, a few others like Bitmain have been dealing with an internal vendetta. While the Bitcoin mining equipment manufacturer kept it low key for a while, the dispute between the two leaders seemed to be intact. Months through the power struggle, the […]
Bitmain’s Client Purchases Over 3,000 19 Series Antminers
Bitmain, one of the world’s largest Bitcoin miner producers, announced on the 8th of December that its long-time client of the Antminer brand, the US-based VBit Technologies bought more than 3,000 19 Series Antminers worth over $8 million. Notably, the Antminer S19, as well as S19 Pro, happens to be the latest generation of ASIC mining […]
Battle for Supremacy at Bitmain Delays Delivery of Mining Hardware
As per the reports, exiled co-founder of Bitmain, Micree Zhan has forcefully taken over the management of the Shenzhen-based company. The battle for supremacy in Bitmain shot up between the two co-founders, compromising the shipment of new mining hardware to their buyers In addition, customers state they had already paid Bitmain in advance for the […]
Cheaper T19 Bitcoin Miner Launched Bitmain to Recoup Lost Market Share
On June 1, giant mining equipment manufacturers Bitmain announced the launch of the cheaper T19 Bitcoin miner in a bid to reclaim its lost market share. The new Antminer T19 has a hash rate of 84 terahash per second (TH/s) and power efficiency of 37.5 joules per terahash (J/TH). The new model was designed after […]