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Bitmain


This post was originally published here Chinese entrepreneurs behind some of the biggest cryptocurrency startups in the world have made the country’s billionaire list for the first time. Hurun, the organization that tracks high net-worth individuals in China and worldwide, on Wednesday released its latest list of the wealthiest executives in China – all being worth at least …

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Chinese entrepreneurs behind some of the biggest cryptocurrency startups in the world have made the country’s billionaire list for the first time. Hurun, the organization that tracks high net-worth individuals in China and worldwide, on Wednesday released its latest list of the wealthiest executives in China – all being worth at least 2 billion yuan, or $288 million. …

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“Last Week in Five” is a video project whose sole purpose is to present you the articles published on CryptoInsider.com throughout the last week, and do it in an easily comprehensive and entertaining way. If you miss our content throughout the week, you can just take a look at this video recap, find out about …

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Noelle Acheson is a veteran of company analysis and member of CoinDesk’s product team. The following article originally appeared in Institutional Crypto by CoinDesk, a newsletter for the institutional market, with news and views on crypto infrastructure delivered every Tuesday. Sign up here. Last week, CoinDesk was first to give its readers a glimpse at the …

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Crypto mining behemoth Bitmain announced Monday it has acquired the startup behind an open-source bitcoin cash wallet called Telescope. The browser-based wallet was launched earlier this year in an effort to enable instant bitcoin cash transactions. At present, Telescope can operate on Google Chrome or Mozilla Firefox, according to a press release, though the team …

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After nearly a year of acrimonious debate, the Sia blockchain is moving to give big mining companies the boot. David Vorick, founder and CEO of Nebulous – the for-profit company behind the $233 million distributed storage protocol – told CoinDesk that Sia will soon move to enact a software change meant to block certain types …

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That Bitmain is a behemoth is hardly news. CoinDesk had previously reported that the cryptocurrency mining hardware maker brought in revenues of $2.5 billion in 2017 and $2 billion in Q1 2018, but with the publication on Wednesday of Bitmain’s draft initial public offering (IPO) prospectus – a step towards its much-anticipated listing on the Hong …

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Bitmain, the Beijing-based cryptocurrency mining giant, has officially filed an application to go public on the Hong Kong Stock Exchange (HKEX). Published on Wednesday, Bitmain’s long-awaited initial public offering (IPO) prospectus follows various news reports that the mining giant has been mulling a Hong Kong listing for a multi-billion dollar public fundraising. The process has not …

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The bitcoin mining industry is having an exciting couple of days. Just a day after Bitfury revealed a new 14nm mining chip called the Bitfury Clarke, Bitmain has upped the ante with the announcement of a new 7nm application-specific integrated circuit (ASIC) processor that it says offers better hashing power and energy efficiency over older models. The …

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Despite the downturn in the crypto markets so far in 2018, executives from several bitcoin mining firms have said this scenario has been seen before and they are not deterred by current low prices. Speaking on stage at CoinDesk’s Consensus Singapore 2018 event Thursday, Alex Ao, founder of Chinese firm Innosilicon – which launched in …

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Things haven’t been easy of late for Bitmain. After CoinDesk revealed the China-based crypto mining giant was planning an initial public offering (IPO) for September, the company has faced a wave of perhaps unprecedented scrutiny. On social media, allegations emerged Bitmain was everything from insolvent to presenting a rosy outlook for its financials, all the while …

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Bitmain-backed mining pool BTC.com is expanding its offerings to include ethereum and ethereum classic, the company announced Thursday. BTC.com, which claims to have mined 21 percent of all bitcoin blocks last year, will offer the new mining client through its pool.btc.com portal, and will also offer an ethereum block explorer and API, according to a …

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Crypto mining giant Bitmain may be losing its advantage in developing miners amid other potential cash-flow issues, according to a new report. Analysts with research firm Alliance Bernstein said the company’s “cash flow appears to be questionable and the company may be gradually losing technological edge” in a report published Wednesday. The researchers note that …

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Tencent Holdings and SoftBank Group are both disputing their involvement in a widely reported pre-IPO investment round for Chinese cryptocurrency mining giant Bitmain. Reports on the firms’ participation in the funding effort first emerged among Chinese media in early August. Soon after, several outlets including CoinDesk, TechCrunch and other media platforms cited the reports in …

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An effort to keep the $200 million siacoin blockchain free from corporate interests is devolving into chaos amid accusations against the companies at the center of the effort. At issue is the conduct of the protocol’s coders, and the motivations behind their push to alter the rules of the blockchain they maintain. With a proposal, …

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New code is set to be released that would make obsolete the mining hardware designed by chip maker Bitmain for the decentralized storage protocol siacoin. Revealed in an email obtained by CoinDesk, Obelisk, a startup that aims to offer alternative mining equipment for the protocol, has proposed code would give those running the software the …

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Bitmain Technologies, Ltd. is about to go public. According to documents obtained by CoinDesk, the cryptocurrency mining company is filing for an initial public offering (IPO) potentially as high as $18 billion this September at a market capitalization of $40 to $50 billion. It will be listed on the Hong Kong Stock Exchange in Q4 …

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Bitcoin mining hardware giant Bitmain is officially setting up shop in Rockdale, Texas, and expects to launch mining operations early next year. The firm confirmed Monday that it is investing $500 million over the next seven years into a new blockchain data center in the U.S. state as part of its “strategic investment and expansion …

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“We joke about it being bitcoin’s ‘unprofitability’ calculator.” That’s how CEO of RandomCrypto, Josh Metnick, described his newly released tool that calculates the profitability of bitcoin mining – the process of solving puzzles to earn bitcoin, usually only possible with expensive processors called ASICs. Revealed exclusively to CoinDesk, Metnick hopes the new calculator will improve on …

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Semiconductor manufacturing giant TSMC said Thursday that it expects demand for cryptocurrency mining-related products to cool off during the third quarter of this year. The company – which manufactures components for bitcoin mining chip makers, including Bitmain – announced its second-quarter results, reporting that it made $7.85 billion in revenue. That figure represents a decline of 7.2 …

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