Mining Giant Bitmain Accuses Mangocoin of Exploiting its Brand Name

Mining Giant Bitmain Accuses Mangocoin of Exploiting its Brand Name

Bitmain, the Beijing-based major cryptocurrency mining company, has recently published in an official blog post a the little-known cryptocurrency ‘Mangocoin’ (MGC) has frequently used the ‘Bitmain’ brand name. This was apparently intended to sale the so-called product ‘Bitmain Cloud Miner’ and to promote Mangocoin on its website and applications. Bitmain has formally declared that the company has no affiliation whatsoever with Mangocoin. Bitmain confirmed that the mining hardware development company in no way associated with…

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Crypto Mining Firm Bitmain Lost $310 Million in Q1 2019

Crypto Mining Firm Bitmain Lost $310 Million in Q1 2019

Thanks to the revival in the entire cryptocurrency market this year, and Bitcoin specifically, things have started looking up for the cyrpto mining company Bitmain. Notwithstanding, the crypto mining giant reportedly recorded a loss amounting to $310 million in the first quarter of 2019. As bad as that may seem, the company is actually on its way up again. Despite the massive loss, Bitcoin reportedly made up to $315 million profit in the month of…

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Bitmain’s Affluent Co-Founder Establishes the New Crypto Startup Matrixport

Bitmain’s Affluent Co-Founder Establishes the New Crypto Startup Matrixport

We’ve seen the rise and fall of Bitcoin(BTC)trade many times in the last couple of years, but BTC’s recent resurgence has propelled the origination of a startup that might make a difference in the crypto world. With the hope of capitalizing on the recent rise of the Bitcoin price, the co-founder of the mining giant Bitmain, Wu Jihan, has organized a group to develop “Matrixport,” a financial services startup for cryptocurrencies. According to its CEO…

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Cryptocurrency Mining Firm Bitmain Seeks IPO Again as Bitcoin Climbs to New High

Cryptocurrency Mining Firm Bitmain Seeks IPO Again as Bitcoin Climbs to New High

It seems like the China-based ASIC chips master Bitmain, which is one of the largest companies that offers cryptocurrency mining equipment, is back in the initial public offering (IPO) game again. You will recall that Bitmain hasn’t had the best year since the 2018 crypto winter. From downsizing its workforce to slamming the brakes on its Texas mining operation and closing down its offices in the Netherlands and Israel, it has been one horrific ride…

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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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