Category: Bitmain

Publicly-Listed Lottery Company to Buy $14.4M Worth of Bitcoin Mining Machines

Publicly-Listed Lottery Company to Buy $14.4M Worth of Bitcoin Mining Machines

A U.S. listed Chinese sports lottery firm announced that it has entered into a purchase agreement to acquire bitcoin (BTC) mining machines. The deal involves the issuing of $14.4 million worth of 500.com Class A ordinary shares. Models Include S17, T17, M20s and S9 According to the announcement, 500.com Ltd reached an initial agreement to […]

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Canaan Launches Submerged Liquid-Cooled Bitcoin Miner, Noiseless Device Boasts 50 Terahash

Canaan Launches Submerged Liquid-Cooled Bitcoin Miner, Noiseless Device Boasts 50 Terahash

The publicly listed ASIC mining rig manufacturer, Canaan, has announced the launch of a new submerged liquid-cooled bitcoin miner called the Avalonminer A1066I. Canaan claims the new immersion cooling miner is noiseless and capable of significant overclocking, as the miner’s cooling system increases power efficiency by 78%. The China-based and Nasdaq-listed bitcoin mining rig manufacturer, […]

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Publicly-Listed Bitcoin Mining Operations See Shares Skyrocket, Riot Blockchain Market Cap Reaches $1B

Publicly-Listed Bitcoin Mining Operations See Shares Skyrocket, Riot Blockchain Market Cap Reaches $1B

While bitcoin’s value has captured new all-time price highs, a number of publicly listed bitcoin mining operations have seen significant profits. The U.S.-based firm Riot Blockchain’s market valuation recently obtained a $1 billion capitalization. Meanwhile, a number of other bitcoin mining business operations have seen colossal demand for company shares. Riot Blockchain, Inc. (Nasdaq: RIOT) […]

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Legal Battle Between Bitmain Co-Founders Appears to End With Micree Zhan Taking Control of the Company

Legal Battle Between Bitmain Co-Founders Appears to End With Micree Zhan Taking Control of the Company

The long-lasting legal battle between co-founders of China-based Bitmain seems to have seen the light at the end of the tunnel after both parties agreed to reach an agreement. Legal Tussle Between Bitmain Co-Founders Reportedly Ended With a $600 Million Compensation for Jihan Wu According to Chinese media outlets, citing local crypto journalist Colin Wu, […]

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Marathon Settles Record-Breaking ASIC Acquisition, Buys 70,000 High Performance Bitcoin Miners

Marathon Settles Record-Breaking ASIC Acquisition, Buys 70,000 High Performance Bitcoin Miners

On December 28, the publicly listed firm Marathon Patent Group announced the purchase of 70,000 Antminer S19 bitcoin miners from Bitmain for $170 million. Marathon expects the shipments to complete in 2021, giving the mining operation over a hundred thousand ASIC miners or more than ten exahash of hashpower. Marathon Patent Group, Inc. (NASDAQ:MARA) revealed […]

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Core Scientific Buys Over 58,000 Bitmain S19 Antminers to Expand Its Hosting Fleet in North America

Core Scientific Buys Over 58,000 Bitmain S19 Antminers to Expand Its Hosting Fleet in North America

A major North American blockchain hosting provider announced its expansion by ordering over 58,000 additional S19 Series Antminers, as part of an agreement arranged with the Chinese mining hardware manufacturer. US Contract Miner Core Scientific Arranges Purchase of Over 58,000 Bitmain S19 Antminers According to the announcement, Bitmain’s deal expects to facilitate Core Scientific customers’ […]

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Mining Rig Makers Race to Create Next-Gen Ethereum Miner Before Staking-Only Kicks In

Mining Rig Makers Race to Create Next-Gen Ethereum Miner Before Staking-Only Kicks In

The Ethereum network’s 2.0 transition has pushed the protocol to become one of the largest staking networks in the world with 1,683,905 ether locked into the contract worth $1 billion today. According to reports from China, while proof-of-work ethereum miners have two years left to mine the leading crypto asset, ten Chinese mining rig manufacturers […]

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Bitmain set to spin out business lines in bid to end the bitcoin mining giant’s year-long power struggle

Bitmain set to spin out business lines in bid to end the bitcoin mining giant’s year-long power struggle

Bitmain is expected to undergo a major spinout process as a solution to end its year-long internal power struggle. One person inside Bitmain who is familiar with the thinking told The Block in early December that Bitmain’s co-founder Wu Jihan and Zhan Ketuan have been negotiating since September. According to the person, a business divestiture […]

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Bitmain recorded a nearly $60M loss in 2019, lawyer says in court hearing

Bitmain recorded a nearly $60M loss in 2019, lawyer says in court hearing

In a court hearing on Friday, a lawyer representing Bitmain has said the bitcoin mining giant recorded a loss of nearly $60 million in 2019. Four former Bitmain staffers, whose employment was terminated in early 2020 as part of Bitmain’s layoff efforts since late 2019, brought a lawsuit against the firm earlier this year. They’re […]

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