Blockchain 

Micree Zhan Claims He Was Removed From Bitmain Without Consent

Micree Ketuan Zhan, the co-founder of major Chinese Bitcoin (BTC) mining hardware producer Bitmain, claimed that he was removed as a legal representative of the company without his consent. On Nov. 7, Samson Mow, the CEO of Blockstream, posted a statement from Zhan on Twitter, in which the Bitmain co-founder claimed he would take legal measures to return to the company.  Bitmain co-founder Jihan Wu announced in an email last week that Zhan had left the company, stating: “Bitmain’s co-founder, chairman, legal representative and executive director Jihan Wu has decided…

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Bitcoin 

Bitmain CEO Ousts Co-Founder, Biggest Shareholder to ‘Save the Ship’

Altcoin Bitcoin Cash (BCH) has surged 10% in the past 24 hours after it emerged mining giant and major supporter Bitmain had fired a senior executive. Wu to staff: do not talk to Micree Ketuan Zhan In a translation of an email from Oct. 29 quoted by crypto news outlet CoinDesk, Bitmain co-founder Jihan Wu said that fellow co-founder Micree Ketuan Zhan had left the company. “Bitmain’s co-founder, chairman, legal representative and executive director Jihan Wu has decided to dismiss all roles of Ketuan Zhan, effective immediately,” it reportedly read.…

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Bitcoin 

Bitmain Launches ‘World’s Largest’ Bitcoin Mining Facility in Texas

Chinese cryptocurrency hardware manufacturer Bitmain has opened what it claims is the “world’s largest” facility for Bitcoin (BTC) mining, in Rockdale, Texas.  In a press release published on Oct. 21, Bitmain revealed the project had been completed together with the Rockdale Municipal Development District and Canadian technology firm DMG Blockchain Solutions. Pledges to boost the local economy The press release places a strong emphasis on working with the local economy of Rockdale, which is located in Milam County, east of Austin, in the United States state of Texas. The facility…

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Bitcoin 

Next Bitcoin Halving May Not Lead to Bull Market, Says Bitmain CEO

Jihan Wu, co-founder and CEO of Chinese mining giant Bitmain, believes the next Bitcoin (BTC) block reward halving may not lead to a bull market, but the coin’s price will grow in the long term. According to Chinese industry news outlet 8BTC’s report published on Oct. 11, Wu made his remarks during the World Digital Mining Summit held in Frankfurt.  Bulls may be late this time Per the report, Wu explained that the crypto market moves in cycles and this time the next bullish phase may not start after the…

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Bitcoin 

Bitmain Announces Two New ASIC Cryptocurrency Mining Rigs

Leading Application Specific Integrated Circuit (ASIC) producer Bitmain announced two new series 17 Bitcoin (BTC) mining machines in a blog post published on Oct. 9. Bitmain: higher efficiency and hashrate Bitmain co-founder Jihan Wu announced the S17+ and T17+ mining machines at the World Digital Mining Summit (WDMS) in Frankfurt. Bitmain claims that the new ASICs feature improvements to power efficiency and hashrate. The post states that the new hardware is capable of performing tens of trillions of hashes per second (TH/s): “The Antminer S17+ has a hash rate of…

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Blockchain 

Blockchain Network NuCypher Raises Over $10M From Bitmain, Y Combinator

Blockchain platform NuCypher has closed a professional staking funding round of over $10.675 million led by capital market firm Polychain Capital. According to a blog post published by the company on Oct. 7, mining giant Bitmain, startup accelerator Y Combinator, blockchain development firm BitFury, Arrington XRP Capital, Notation Capital and many other companies were among the participants. It is also noted that they purchased 8% of the initial supply of NU tokens in total. Furthermore, the investors reportedly also agreed to stage-lock their tokens for two years, which the platform…

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Blockchain 

Bitmain to Launch Platform for Connecting Miners and Farms in October

Chinese crypto mining hardware giant Bitmain will launch a platform connecting global crypto miners with farm owners in October. World’s first resource to connect farms and miners The platform, dubbed World Digital Mining Map (WDMM), will be officially launched during the World Digital Mining Summit (WDMS) taking place in Frankfurt between Oct. 8 and Oct. 10, Bitmain announced in a blog post on Sept. 27. According to the announcement, the WDMM will be the first global network to connect mining hardware owners with mining farms who will provide the available…

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Bitcoin 

Bitmain Launches Two New S17 Bitcoin ASIC Miners Today

Leading mining Application Specific Integrated Circuit (ASIC) producer Bitmain announced two new S17 miners in a press release shared with Cointelegraph. The two new mining ASICs, namely the S17e and the T17e, will both be launched on Sept. 9. The company claims that both the new models feature improvements, which should translate to higher efficiency, more stable operation and more longevity. ASIC specifications released Bitmain also released the specifications of both the newly announced mining machines. The S17e has a hash rate of 64 TH/s and operates with a power…

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Blockchain 

Bitmain Chip Supplier Faces Infringement Lawsuits From Competitor

TSMC, the world’s largest independent semiconductor foundry and chip supplier for Bitmain, is facing multiple lawsuits from its competitor GlobalFoundries (GF). Alleged patent infringement  GF, the second biggest semiconductor foundry by sales after TSMC, filed several lawsuits in the United States and Germany, accusing Taiwanese TSMC of infringing on 16 GF patents, according to an official GF statement on Aug. 26. In the lawsuits, the California-based company seeks orders to ban TSMC from importing semiconductors produced with its technology to the United States and Germany, with GF claiming that importation…

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Bitcoin 

Bitmain Valuation to Hit $12B With New 600K Chip Order, Source Says

Bitcoin (BTC) mining giant Bitmain will increase its capacity by 50% in the next six months on the back of a giant hardware order, a source close to the deal has said. Bitmain eyes 50% capacity increase As reported by Chinese social media network WeChat on Aug. 23, Bitmain, which has seen a dramatic reversal of fortunes in 2019, will now buy 600,000 mining chips. According to a source close to the Taiwanese chip manufacturer processing the order, the chips will be of the most recent 7nm variety, the hash…

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