Bitmain IPO Application Fails to Impress – Set to Expire Today

The Rundown After six months of inactivity, the Bitmain IPO is set to expire bringing to a close another difficult chapter for the beleaguered cryptocurrency mining behemoth. Bitmain IPO: Dead on Arrival The Bitmain Technologies application for an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEX) expires today, Monday (March 25, 2019)….

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Top-3 Mining Rig Maker Ebang Eyes Market Turnaround in 2019

Ebang, the third largest mining equipment producer, plans to make at least 400,000 of its Ebit mining rigs in 2019. The company commands a 9.2% share of the global mining hardware market, lying behind only Bitmain and Canaan. Ebang Expects to Sell 400K Units in 2019 The latest company reports show sales of almost 159k units in…

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Bitmain continues to post revenue losses

Cryptocurrency mining equipment manufacturer Bitmain is still grasping to hope that it will be able to pull off its initial public offering (IPO). On top of the Hong Kong Stock Exchange (HKSE) already asserting that Bitmain might not have a sustainable business model, the company recently reported its third-quarter profits and they don’t paint a…

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Bitmain Gets Down With Energy-Efficient ASIC Mining

The mining giant has a new ASIC chip. Will it help the company turn its fortunes around? Bitmain Technologies Ltd. today announced the BM1397, a 7-nanometer ASIC chip for proof-of-work mining. The new chip, made with the Taiwan Semiconductor Manufacturing Company’s FinFET process, reportedly uses less power, with a 28.6 percent improvement in energy efficiency…

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Bitmain Unveils New 7nm ASIC Chip After Dismal 2018

Bitmain Technologies has announced a new iteration of its 7-nanometer Bitcoin mining chip. The cryptocurrency mining hardware behemoth says the new and improved 7-nm chip offers greater energy efficiency for mining operations. More Energy Efficient Bitcoin Mining The company announced the news in a blog post published on Monday (February 18, 2019), on its official…

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Bitcoin Hashrate Hits 3-Month High: Is BTC Price Next?

Bitcoin hashrate, the computing power of the network, has hit levels last seen in November 2018. Bitmain-operated hashrate, however, has hit its lowest point in the last 16 months.  Bitcoin Hashpower at a 3-Month High As of yesterday, February 7th, Bitcoin hashrate has hit over 50 quintillion hashes per second according to data from Blockchain.com….

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Bitmain Suspends Texas Mining Operations

Bitmain’s woes continue with layoffs and a muddled suspension that leaves behind a skeleton crew. The mining giant Bitmain has suspended operations at its mining facility in Rockdale, Texas, according to a report from Texas Public Radio. When (and if) Bitmain will resume mining activities is up in the air. Bitmain announced the Rockdale mining…

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Crypto Mining Giant Bitmain Suspends Texas Mining Operations

Chinese crypto mining giant Bitmain has reportedly suspended its mining operations in the city of Rockdale, Milam County, Texas due to the collapse of the price of bitcoin. In August 2018, the Chinese crypto mining giant started to build its $500 million data center and mining facility at a section of the former Alcoa Rockdale…

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Bitmain Pauses Texas Mining Operations, County Officials Report

According to reports from media outlet Texas Public Radio, the Chinese mining giant Bitmain Technologies has reportedly suspended operations in the town of Rockdale. Bitmain started to build up its new facility at a former aluminum smelting factory last summer, but since the crypto economy downturn, the company’s operations at the Texas factory have allegedly paused….

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Bitmain Prepares For CEO Transition As Co-Founders Step Down

Reshuffling continues at Bitmain after a harsh December saw company-wide layoffs. Jihan Wu and Micree Zhan are reportedly out as co-CEOs. In November 2018, ETHNews covered mining giant Bitmain’s restructuring after Nishant Sharma, the company’s international marketing manager, reported that co-founder and co-CEO Jihan Wu would reposition and continue on with the company as a…

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Bitcoin Cash Price Loses 20% as Bitmain Lays off Entire Team

What goes up must come down. The week started off on a good note, markets seemed to be recovering and most cryptocurrencies saw double digit gains. Unfortunately, it seems the Monday bull run is coming to an end as the market is correcting on Christmas eve, effectively erasing the gains sustained in the past 24…

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Bitmain, Roger Ver, Kraken Sued as Bitcoin Cash Nightmare Continues

Roger Ver, Bitcoin.com, Bitmain, and Kraken are all sued by UnitedCorp over an alleged complot to hijack the Bitcoin Cash network for their own personal gain. United Corp. Sues Bitcoin.com, Bitmain, Kraken If the Bitcoin Cash fork fall-out that made November one of crypto’s most volatile months on record wasn’t bad enough, the nightmare continues. Although,…

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Bitmain Sued For Allegedly Using Customers’ Devices To Mine Cryptocurrencies

Chinese crypto mining giant Bitmain has been sued for allegedly mining cryptocurrencies without the customers’ consent. The class action lawsuit was filed by Los Angeles County resident Gor Gevorkyan in the North District Court of California. The lawsuit claims that Bitmain redesigned its ASIC devices to mine cryptocurrency for the benefit of itself rather than…

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Sweden Braces For Migrant Caravan Of Norwegian Bitcoin Miners

Data center managers in Sweden are expecting a deluge of inquiries from cryptocurrency mining operations in Norway. The Norwegian authorities this week revoked energy tax subsidies for the sector, throwing the future of many companies into doubt. ‘The Dirtiest Form of Cryptographic Output’ Up until this week, mining firms in Norway qualified for the same…

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Bitmain And Ebang's Hong Kong IPO Ambitions in Question

China’s Bitmain Technologies Holding and Ebang International Holding, two of the largest bitcoin mining equipment makers in the world, are struggling to meet up with regulatory requirements in Hong Kong. According to reports, plunging Bitcoin price and regulatory headwinds could cause a delay or total abandonment of the planned floats on the Hong Kong stock…

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Jihan Wu: ‘I Have Huge Confidence in the Future of Bitcoin Cash’

CEO and co-founder of Bitmain Jihan Wu today expressed confidence in the future of Bitcoin Cash (BCH) and proof-of-work (PoW) mining. Speaking at the Nikkei/CNBC “Future of Money” event in Tokyo in his first major appearance in Japan, Wu also addressed questions over the recent BCH hard fork, the growing importance of the mining industry,…

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Bitmain No Longer Under Influence of Jihan Wu, Says Lawyer

Bitmain co-founder Jihan Wu no longer has influence over the company’s decision-making processes after an executive board reshuffle, a lawyer told local media November 12. Wu Now ‘Supervisor’ As Sanyan Blockchain reports, the mining giant altered the make-up of its board last week. Among the changes, Wu’s position went from a director to a “supervisor,”…

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How Bitmain can win the Bitcoin Cash [BCH] hash war: Bitcoin [BTC] hashrate to play a role?

Opinion: All eyes have turned to the upcoming Bitcoin Cash [BCH] hard fork, with the battle between Coingeek and Bitmain continuing to escalate. At last count, Bitcoin SV, the implementation being pushed by Craig Wright and Calvin Ayre, remains as the leader in terms of hashrate on the BCH chain, while Bitmain-powered Bitcoin ABC suspiciously…

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Ex-Bitmain Chip Designer Goes Head to Head with the Cryptocurrency Mining Giant

Yang Zuoxing, a former chip designer for Bitmain, is taking the leading manufacturer of ASIC chips head-on with his company’s own line of mining chips. Watch out for MicroBT An ex-employee of the mining equipment giant Bitmain, Yang Zuoxing, is toiling hard to give his ex-employer a tough fight. Yang claims to have developed the…

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Antminer S3 + GekkoScience Wireless Bitcoin Solo Block Mining

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