Bitcoin Mining Giant Bitmain Is Collapsing – And It Only Has Itself To Blame

The Israeli research and development arm of cryptocurrency mining giant Bitmain will close, resulting in the firing of all 23 staff due to market “turmoil.” Glikberg: Bitmain ‘Forced’ To Reevaluate As local media outlet Globes reported December 10, Bitmain, which continues to face financial problems of its own this year, will formally end all activities […]

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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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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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Houston Rockets Inks Sponsorship Deal with Bitcoin Mining Pool ‘AntPool’

Popular National Basketball Association (NBA) team, Houston Rockets, recently entered into a sponsorship agreement with AntPool, one of the largest Bitcoin mining pools. The deal sees the Bitmain-owned AntPool sponsoring the Rockets for the upcoming 2018/2019 NBA season. Houston Rockets…to the Moon? According to SportsPro Media, the deal followed AntPool’s announcement of its newly built […]

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Bitmain Monopoly is Showing Cracks, According to Analysts

The top cryptocurrency mining company might be losing its edge as demand for its products is under pressure and competition grows stronger, according to analysts. “The Competitiveness of Bitmain’s Chips is in Question” A recent report of analysts led by Mark Li at Bernstein holds that the Beijing-based mining company, which was co-founded by the […]

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Bitmain IPO: Softbank and Tencent Reportedly ‘Not Involved’

Two major corporations have publicly denied involvement with the prospective initial public offering (IPO) of cryptocurrency mining giant Bitmain. Source: Tencent ‘Did Not Take Part’ In a fresh round of controversy over the plans, Chinese multinational Tencent and SoftBank, the largest investor in Uber, both rejected press claims they were participating. “Neither the SoftBank Group […]

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Texas Brings the Heat as an Alternative to Mining in Cold Climates

Cryptocurrency mining is both power and heat intensive. In the case of the latter, miners have been known to flock to countries like Iceland, as well as cities like New York. Texas based blockchain-based platform, TMGcore, is showing that this doesn’t have to be the case. According to Dallas News, the company uses custom-built mining rigs […]

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Bitcoin Mining Giant Bitmain Worth $12 Billion After Latest Funding Round

Bitmain, the Bitcoin mining behemoth, is now reportedly valued at $12 billion. This new valuation comes after the company closed a $400 million Series B funding round. Bitmain, which controls a major chunk of the Bitcoin mining hashrate, is also set to invest in the upcoming Opera browser IPO. $12 Billion Valuation According to local […]

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‘Intense’ Bitmain Lobbying Forcing Smaller Bitcoin Miners Out of Quebec

A month after authorities in Quebec lifted a moratorium on allowing Bitcoin miners, local businesses have begun threatening to leave suspecting unfair policies. ‘Very Saddened’ In a series of tweets June 28, D-Central founder Jonathan Bertrand claimed that due to conflicting interests and agendas at government level, as well as an “intense lobbying effort” from […]

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Bitcoin Cash Burning $12 Per Day While ‘Struggling to Remain Relevant’

Adam James · April 24, 2018 · 5:15 am In what one senior analyst calls a struggle “to remain relevant,” Bitcoin Cash (BCH) has been burning $12 worth of its own supply every day — hoping the increased scarcity will help in its fight against its dominant competitor, Bitcoin (BTC). ‘Purely a PR game’ Bitcoin […]

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