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For Miners: Controlling Crypto Mining Risks with Financial Tools

Jan 17, 2020

Financial tools help crypto miners to better avoid risks and lock in earnings. Crypto mining is different from speculation as mining input is a fixed asset with poor liquidity, such as mining machine and mining farm. In the long run, the asset of crypto mining is continuously devalued. The price...

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Chinese Bitcoin Miners in Iran: To Leave or To Hang on

Jan 16, 2020

As the U.S. and Iran step back from the brink of war, it comes as a temporary relief to bitcoin miners in the oil-rich country. The Middle Eastern country had previously attracted Chinese bitcoin miners heading there for its extremely affordable electric prices at $0.006 per kilowatt-hour...

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Bitmain May Lay off Half of Employees, Ousted Co-Founder Speaks out Against It

Jan 7, 2020

Two months after Jihan Wu returned to Bitmain, the bitcoin mining giant started a new round of large-scale layoffs. "The layoff started last Thursday, which mainly targets new employees. Many professional managers have left." A Bitmain employee who has been laid off told Jiemian, a loca...

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Earlier Than Bitcoin Halving, Bitmain to Further Cut Half of Its Personnel by Chinese New Year

Jan 2, 2020

Bitmain has launched its ‘personnel optimization program’ by the end of 2019. At the end of last week, Jihan Wu, CEO of Bitmain held a meeting to ask all department managers to submit the ‘optimization list’. Bitmain will hold its annual meeting on January 17, and the optimization plan...

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Hashing Ahead: A Look at Bitcoin Mining in 2020

Jan 2, 2020

The December 2019 report on the Bitcoin mining network from CoinShares Research, a division of the digital asset management firm, presented an industry in good health at the end of the year, with a hash rate that had almost doubled in the previous six months, a new generation of more powerful...

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Former Technical Director of Bitmain Reveals how S9 Became the Dominant Crypto Miner

Dec 31, 2019

Bitmain’s team in Chengdu realized the cross-generation advantage to its competitors through dynamic triggers, which is also the main reason for the success of S9 miner. The design of S9 is a miracle of bitcoin miner, which has become the most productive bitcoin miner with a life cycle of more...

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Chinese Men Surrender 14 Bitcoins After Stealing Electricity for Crypto Mining

Dec 27, 2019

On December 24, a court in China’s Jiangsu province dealt with a case of bitcoin mining by stealing electricity. From March 2017 to May 2019, ten defendants successively purchased more than 3000 bitcoin mining machines, rented workshops for private connection and stole a large number of powe...

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Sichuan’s Garze Demands a Cleanup of Bitcoin Mining Operations to Give Priority to Social Electricity Demand

Dec 26, 2019

Authorities in Sichuan have started pressuring cryptocurrency mining businesses operating in the “Bitcoin mining capital” amid the dry season which has been leading to a shortfall in electricity supply. As per the notice issued on December 23 by Garze Tibetan Autonomous Prefecture of w...

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Canaan to be Equipped with TSMC 5nm Mining Chip in Q1 2020

Dec 24, 2019

As Bitmain's 5nm chip testing succeeded, Canaan will also follow Bitmain’s pace, becoming the world-second crypto miner maker to be equipped with the 5nm chip in Q1 2020. After successful going public, Canaan gains more trust at the supply chain level, who will become the only mainstream ...

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Police in Chinese City Seize 6,890 Bitcoin Mining Units Stealing Electricity

Dec 23, 2019

Police in Hebei, a province in Northern China, have seized 6,890 bitcoin mining hardware units that were illegally used to mine cryptocurrencies, reported China Central Television (CCTV), the predominant public television broadcaster in mainland China. According to the CCTV repor...