Bitcoin Mining Giant Bitmain Closes Israeli Branch amid Market Woes

With the bitcoin price trading more than 80 percent below its all-time high, not even Bitmain, the world’s largest cryptocurrency mining firm and the crypto industry’s most valuable company, has been immune from the slaughter. According to Israeli business publication Globes, the China-based Bitmain has closed Bitmaintech Israel, the development center it set up two …

Crypto Heavyweights Bitmain & Roger Ver Hijacked Bitcoin Cash

A company by the name of UnitedCorp is taking a number of Bitcoin Cash actors to court today, filing documents that very clearly outline what they believe to have been a conspiracy which worked out to their detriment. UnitedCorp is short for United America Corporation, a Florida firm which works in experimental blockchain technologies including …

Crypto Billionaires Among China’s Wealthiest, Despite Bear Market

There is no question that the entire cryptocurrency sector is in a bear market, with many cryptocurrencies losing over 50% of their value.  However, this certainly hasn’t prevented individuals from becoming very wealthy through cryptocurrency-related ventures.  Specifically, despite the decrease in market capitalizations of various cryptocurrencies, several Chinese businessmen have landed onto a list of …

Crypto Mining Giant Bitmain Acquires Bitcoin Cash Wallet

Open source browser-based cryptocurrency wallet Telescope has officially announced its acquisition by Bitmain Technologies Inc., the world’s largest crypto mining rig manufacturer, which also runs one of the world’s most extensive cryptocurrency mining pools. The move comes at an important time for Bitmain, which is increasing its involvement in the bitcoin cash space as it …

Bitcoin Mining Giant Bitmain Unveils ‘Next-Generation’ 7nm Chip

Bitmain, the world’s most valuable cryptocurrency company, isn’t ready to relinquish its position as the dominant manufacturer of bitcoin mining chips — at least not yet. The China-based firm on Friday announced that it had developed a new 7nm application-specific integrated circuit (ASIC) mining chip for the SHA256 algorithm used by bitcoin, bitcoin cash, and …

Bitmain is Hodling Nearly $600 Million in Bitcoin Cash

When Bitmain announced last year that it was throwing its weight behind bitcoin cash ahead of the latter’s decision to pursue a divorce from the main BTC network due to irreconcilable differences over blockchain scaling, the cryptocurrency mining giant put its money where CEO Jihan Wu’s mouth was. Leaked documents from Bitmain’s pre-IPO investor deck …

$500 Million Bitmain Data Center to Bring 400 Jobs to Texas Coal-Mining Town

Bitmain, the world’s largest bitcoin miner and mining equipment maker has announced construction plans for a new blockchain data center and cryptocurrency mining facility in the city of Rockdale in Milam County, Texas. CCN earlier reported that the company released plans to construct a data center in Texas as part of an ongoing North American …

U.S. Blockchain Spending in 2018 Has Already Eclipsed All of Last Year

KPMG released its bi-annual “The Pulse of Fintech” report detailing a large increase in blockchain business spending in 2018. Blockchain Moves Beyond Experimentation KPMG, one of the largest tax advisory service firms in the world, reviewed spending for businesses around the world for the report., which showed a large uptick in large investor interest (such …

Second Bitcoin Mining Manufacturer Plots Hong Kong IPO

China-based bitcoin mining hardware manufacturer Ebang Communication has filed to go public on the Hong Kong Stock Exchange (HKEX). The company, the third-largest producer of application-specific integrated circuit (ASIC) chips for bitcoin mining, on Monday filed an application to hold its initial public offering (IPO) on HKEX. The news was first reported by regional industry …