Bitmain news

Here are some recent news updates about Bitmain, a leading cryptocurrency mining hardware manufacturer:

Recent News:

  1. Bitmain's Revenue Plummets: According to a report by Bloomberg, Bitmain's revenue has dropped by 75% in the first half of 2020 compared to the same period last year. The company's revenue was around $1.1 billion in the first half of 2019, but it fell to around $270 million in the first half of 2020.
  2. Bitmain's IPO Plans Put on Hold: In July 2020, it was reported that Bitmain had put its initial public offering (IPO) plans on hold due to the decline in the cryptocurrency market and the company's financial struggles.
  3. Bitmain's Mining Pool Loses Market Share: According to a report by CoinShares, Bitmain's mining pool, Antpool, lost market share in the second quarter of 2020. The report stated that Antpool's market share fell to around 15.5% in the second quarter, down from around 20.5% in the first quarter.
  4. Bitmain's New Mining Chip: In June 2020, Bitmain announced the launch of its new mining chip, the BM1397. The chip is designed to be more efficient and powerful than its predecessor, the BM1387.
  5. Bitmain's Expansion into New Markets: Despite its financial struggles, Bitmain has been expanding into new markets, including the Middle East and Africa. The company has partnered with local companies to establish mining operations in these regions.

Past News:

  1. Bitmain's IPO Plans: In 2018, Bitmain filed for an IPO in Hong Kong, but the plans were put on hold due to the decline in the cryptocurrency market.
  2. Bitmain's Acquisition of R&D Firm: In 2019, Bitmain acquired a research and development firm, Giga Watt, which specializes in cryptocurrency mining and blockchain technology.
  3. Bitmain's Partnership with IBM: In 2019, Bitmain partnered with IBM to develop a blockchain-based platform for the supply chain industry.
  4. Bitmain's Mining Operations: Bitmain operates several mining facilities around the world, including in China, the United States, and Canada.
  5. Bitmain's Controversies: Bitmain has been involved in several controversies over the years, including allegations of market manipulation and concerns over its environmental impact.