US Contract Miner Core Scientific Buys 17,600 Bitcoin Miners From Bitmain

US Contract Miner Core Scientific Buys 17,600 Bitcoin Miners From BitmainU.S. contract mining firm Core Scientific has agreed on a deal to buy 17,600 mining rigs from Chinese bitcoin hardware maker Bitmain Technologies Inc. The company is buying Bitmain’s next-generation bitcoin (BTC) miner, the Antminer S19, it said in a statement on June 29. The miners will be fully installed at data centers operated by […]

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Bitcoin Mining Chip Manufacturer Ebang to List on Nasdaq This Week

Bitcoin Mining Chip Manufacturer Ebang to List on Nasdaq This WeekOn Friday, June 26, the China-based Zhejiang Ebang Communication, often referred to as Ebang, will be listed on Nasdaq, according to various reports. Ebang’s initial public offering (IPO) will be the second U.S.-based IPO for an ASIC mining manufacturer joining the company Canaan. The Ebang IPO prospectus was also updated on June 17, raising the […]

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Bitcoin Mining Heats Up: High Difficulty Adjustment, Pool Consolidation, Less Concentration in China

Bitcoin Mining Heats Up: High Difficulty Adjustment, Pool Consolidation, Less Concentration in ChinaIt’s been approximately 37 days since the notorious Bitcoin reward halving that took place on Monday, May 11, 2020. On June 16, the Bitcoin network saw a large upwards difficulty adjustment making it much harder to mine bitcoins and slowing down the issuance rate because block generation has slowed down. Furthermore, a recent research report […]

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Canaan Narrows Q1 Loss to $5.6 Million Amid Weakening Demand for Mining Hardware

Canaan Narrows Q1 Loss to $5.6 Million Amid Weakening Demand for Mining HardwareBitcoin mining rig manufacturer Canaan Creative reported a net loss of $5.6 million for the first quarter of 2020, down from $9.5 million a year earlier. The Chinese company cut prices of its ASIC-based machines by over 50% in an effort to improve sales, but that wasn’t enough to prevent the heavy loss. Demand slumped […]

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Bitcoin Mining Markets Heat Up: Ebang’s $41M Deficit, Bitmain’s Alleged 2020 Revenue

Bitcoin Mining Markets Heat Up: Ebang's $41M Deficit, Bitmain's Alleged 2020 RevenueThe Chinese ASIC mining rig manufacturer Bitmain reportedly pulled in $300 million in revenue during Q1 2020. Meanwhile, as Bitmain claims to be regaining market share, the firm Ebang recently applied with the U.S. Securities and Exchange Commission (SEC) for initial public offering (IPO) status. However, the prospectus sent to SEC shows that while Ebang […]

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