Bitmain’s Uncertain Future: Suspends Bitcoin Mining Amid Senior Management Shakedown

Bitmain’s Uncertain Future: Suspends Bitcoin Mining Amid Senior Management Shakedown

Bitcoin, News, Tech
Bitmain, the world’s largest cryptocurrency mining hardware manufacturer, has had tumultuous few months. The company is going through a significant senior management shuffle and is now reported to shut suspend operations in Rockdale, Texas. Operations Suspended?  Bitmain is reportedly suspending its’ its operations in the town of Rockdale located east of the city of Austin, Texas. The future of what was once supposed to be the biggest US-based cryptocurrency mine now seems uncertain at best. Speaking on the matter was Milam County Judge Steve Young, who said: “I’m really disappointed because we had advertised this. We had waited for this. We had wanted this. We had welcomed this. […] This was huge; we need some positive news here. We need some jobs here. We need a tax base here, and…
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Crypto Mining Giant Canaan Eyes New York IPO After Hong Kong Snub

Crypto Mining Giant Canaan Eyes New York IPO After Hong Kong Snub

News, Tech
The world’s second-largest manufacturer of cryptocurrency mining hardware, Canaan Creative, is now considering going public in the United States rather than in Hong Kong, Bloomberg reports. According to sources who spoke to the business publication, the ASIC manufacturer is looking into the possibility of holding its initial public offering (IPO) in New York in the The post Crypto Mining Giant Canaan Eyes New York IPO After Hong Kong Snub appeared first on CCN
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Report: Crypto Industry Giants Bitmain and Huobi to Layoff Staff

Report: Crypto Industry Giants Bitmain and Huobi to Layoff Staff

News
Cryptocurrency mining giant Bitmain and major crypto exchange Huobi have reportedly confirmed plans to lay-off staff. Cryptocurrency mining giant Bitmain and major crypto exchange Huobi have reportedly confirmed plans to lay off staff amid the 2018 price rout of the crypto markets. Hong Kong English-language newspaper South China Morning Post (SCMP) reported on the layoffs on Dec. 26.Beijing-based Bitmain Technology, which has dominated the mining hardware manufacturing horizon this year, is quoted by SCMP as saying in a statement that it is undergoing “some adjustment to our staff this year”  — a statement reportedly prompted by Chinese social media coverage of looming layoffs at the firm. Bitmain reportedly stated:“A part of [building a sustainable business] is having to really focus on things that are core to that mission and not…
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Mining ASIC Producer Ebang Reports ‘Significant Decreases’ in Revenue From July-September

Mining ASIC Producer Ebang Reports ‘Significant Decreases’ in Revenue From July-September

News, Tech
Cryptocurrency mining hardware producer Ebang has suffered “significant decreases” in revenue in the second half of 2018. Ebang, a crypto mining ASIC hardware producer, has suffered “significant decreases” in revenue in the second half of 2018. This development was reported in documents submitted by the company to the Hong Kong Stock Exchange (HKEX) on Dec. 20.HKEX only requires the financial period reported by IPO applicants not to end more than six months from the day of the listing document. Following this requirement, Ebang included its financial information until the end of June 2018 in the draft documents submitted to launch its IPO.According to the data contained in the document, Ebang saw 2.1 billion yuan ($30 billion) in revenue for the first six months of this year. In 2017, during the…
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Just Two ASIC Bitcoin Mining Rigs Remain Profitable in Current Markets

Just Two ASIC Bitcoin Mining Rigs Remain Profitable in Current Markets

Bitcoin, News, Tech
Amid the cryptocurrency market crash, even the newest ASIC crypto mining rigs are struggling to seal profits for their operators. Amid the cryptocurrency market crash, even the newest crypto mining machines are struggling to seal profits for their operators, according to real-time data published by mining profitability data site ASICMinerValue.com (AMV) today, Dec. 11.AMV is a site that calculates real-time profitability rates for “ASIC” miners, hardware that uses Application-Specific Integrated Circuit (ASIC) chips, tailored to efficiently mine cryptocurrency based on a specific hashing algorithm. Updated every minute, the site calculates profit yields for specific miners based on current power costs, network difficulty, block rewards, and cryptocurrency prices.As of press time, the site indicates that among ASIC mining machines geared to mine coins that are based on cryptographic hash function “SHA-256”…
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Miners are Getting Used to the New Situation of the Crashing Markets

Miners are Getting Used to the New Situation of the Crashing Markets

News, Tech
The cryptocurrency exchange BitMEX has released a report today concluding that the total hash-rate of the Bitcoin network had fallen by approximately 31 percent. The percentage represents around 1.3 million Bitmain S9 miners that have been turned off. It’s important to mention that BitMEX based its research on the electricity costs of mining Bitcoin, not taking additional expenses in the account, such as maintenance costs and capital investment required to purchase mining equipment. Decreasing prices leading to more miners quitting On November 16 and December 3, 2018, soon after the crypto market has crashed, the market’s downtrend caused two large downward difficulty adjustments for Bitcoin – 7.4 and 15.1 percent respectively. According to the report, the first adjustment was the largest since January 2013 while the second one was the…
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Dash Altcoin – A Guide for Dummies

Dash Altcoin – A Guide for Dummies

Altcoins, News
Dash is a new breed of cryptocurrency, which is a promising alternative coin (also called altcoin) to Bitcoin. In this article, we’ll deal with a brief definition of Dash, how it was originally built, how Dash mining is done, what is the supply level of Dash coins, and many more. Let’s start the guide on The post Dash Altcoin – A Guide for Dummies appeared first on Hashgains Blog.
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