Crypto Mining Giant Bitmain Reports 88% Decline in Bitcoin Mining Power

Crypto Mining Giant Bitmain Reports 88% Decline in Bitcoin Mining Power

Beijing-based crypto mining rig manufacturing giant, Bitmain, recently reported that its internal Bitcoin and Bitcoin Cash mining operations have generated 88% less computing power compared to a month ago. The major cutdown has been revealed by the company in its monthly hashing power disclosure. As per the hashing power disclosure, on May 7th, the hash rate of all Bitcoin and Bitcoin Cash mining hardware which are running on the SHA265 chips has dropped significantly. Comparing…

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Crypto Mining Giant Bitmain Presents New CEO; Admits IPO Is Dead

Crypto Mining Giant Bitmain Presents New CEO; Admits IPO Is Dead

Bitmain, the cryptocurrency mining equipment giant, has published a revealing post on their blog that talks about many rumors going around the community. In the post, Bitmain talks about how the bear market has affected their future plans, the changes they’ve had to make because of it and what their priorities are going forward. Furthermore, the post also confirms the replacement of Bitmain’s CEO and the expiration of its IPO filing to the Hong Kong…

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Bitmain Claims its New Miner Z11 Is 3x More Powerful Than its Predecessor

Bitmain Claims its New Miner Z11 Is 3x More Powerful Than its Predecessor

Bitmain, the Beijing-headquartered cryptocurrency mining giant, announced the release of its new miner that it claims is three times more powerful than its predecessor. The new device, named Z11, is aimed at mining virtual coins that are based on the Equihash proof-of-work algorithm. The privacy-focused altcoin ZCash (ZEC) is going to be one of the primary beneficiaries of this new all-powerful miner. Despite the current bear market having affected miners’ ability to invest in new…

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Bitmain Introduces New Lower Energy-Consuming Chip for Bitcoin Mining

Bitmain Introduces New Lower Energy-Consuming Chip for Bitcoin Mining

Hong Kong-based crypto mining rig manufacturing giant Bitmain Technologies Limited revealed its next-generation 7nm ASIC chip to mine SHA-256 cryptocurrencies like Bitcoin and Bitcoin Cash. According to Bitmain, this newly designed mining chip is 28.6% more efficient than Bitmain’s previous 7nm chip, the BM1391. This mining chip will be available in new Antminer models the S17 and T17 as announced by by the company. Since inception, Bitmain is pushing the edges of computing power by…

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Bitmain Take a Look at 2018 in Retrospect and What the Future Holds in 2019

Bitmain Take a Look at 2018 in Retrospect and What the Future Holds in 2019

2018 was indeed rocky for virtually every crypto-related firm but that doesn’t change the fact that lots of milestones were achieved last year. Acknowledging this fact, Bitmain – one of the largest blockchain-based hardware and software companies in the world – took the time to reflect on their achievements in 2018 while giving an insight into their plans for the year 2019, in spite of the great hurdles the company has been facing. Some of…

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Unknown Miners Increasingly Take a Bigger Part of the Bitcoin Mining Pool

Unknown Miners Increasingly Take a Bigger Part of the Bitcoin Mining Pool

There are three primary methods of crypto mining for an individual miner: mining by oneself, joining a mining pool and joining a cloud mining. Mining by oneself and joining cloud mining aren’t as popular as pool mining due to higher hardware requirements and whooping power consumption. However, Things have also started to change for pool miners as a major share of Bitcoin miners belongs to some unknown miners. According to recent data, unknown miners who…

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Report: Bitmain Cuts Back its Texas Crypto Mining Project

Report: Bitmain Cuts Back its Texas Crypto Mining Project

It was a great celebration in the cryptoverse last year when Bitmain (a Chinese crypto mining firm) announced its intention to build one of the largest crypto mining centers in the world. But the smiles have been wiped off their faces as the project scheduled to hold in Rockdale TX has hit an unfortunate roadblock. Last year was, indeed, a rough ride for virtually all crypto-related firms and Bitmain isn’t excluded from those stats. The…

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Mining Giant Bitmain Reportedly to Retire its CEOs as IPO under Jeopardy due to Regulatory Doubts

Mining Giant Bitmain Reportedly to Retire its CEOs as IPO under Jeopardy due to Regulatory Doubts

Troubles keep chasing the crypto mining giant Bitmain. As long as cryptocurrency prices continued to rise a year ago, the company was blossoming; but as the entire crypto market plunged in 2018, mining profitability has declined accordingly and drastically. So after a barrage of lawsuits and firing half of its workforce, the mining firm now faces new obstacles. According to the Chinese media outlet Odaily, Bitmain’s CEOs Micree Zhan and Jihan Wu will soon leave…

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