The unaudited financial results of Canaan show its three months ending June 30 saw the China-based chip producer generate revenue of RMB1,652.7 million (US$246.7 million). The record represents an increase of 21.9% from RMB1,356.1 million in Q1 2022 and an increase of 52.8% from RMB...
With Ethereum's Merge to Proof-of-Stake (PoS) drawing nearer - projections put it between September and November - miners are starting to look for an alternative. While some reports say there is nearly $5 billion worth of graphics card mining machines and ASIC Ethereum mining machi...
The drop in the price of Bitmain mining machines could have contributed directly to the woes of crypto lending firm, Celsius Network LLC (CNL), and its bankruptcy filings have shown. The use of borrowed funds to buy Bitmain’s high-priced mining machines added to the platform’s accum...
Bitmain may have reduced its manufacturing capabilities in China by 50-70% since the crypto ban, according to Luxor Mining estimate. In its latest hash rate index, Luxor which provides analysis, data, and hash rate insights, notes that China’s entrenched application-specific integrated circ...
Regardless of China's ban on crypto-related mining activities within its borders, top miner makers in the country continue their drive to meet market demands and sustain their operations. Canaan this week announced the deployment of another 8,000 Avalon Miner units for its joint mining opera...
Despite a ban on related activities on their home turf, Chinese companies remain attracted to the crypto mining trade hence their quest to continue pursuing the interest even outside the shores of China. Beijing has driven out most of China’s cryptocurrency mining activities this year ...
Bitmain has unveiled its newest machine, the Antminer S19XP. The manufacturer of the most popular brand for application-specific integrated circuit (ASIC) Bitcoin miners introduced the machine at its just-concluded World Digital Mining Summit 2021 which ended on Nov 10 in Dubai. ...
Like it happened in the second quarter, North American miners have seen yet another quarter of increased revenue quarter-over-quarter in the wake of China’s crypto mining ban. China used to capture the larger share of the crypto mining market - about 50-60% of the network’s hashrate. How...
Prices of application-specific integrated circuit (ASIC) miners are not likely to stop rising all through next year, says Luxor Mining, which provides analysis, data, and hashrate insights. Its analysis of what the crackdown means for ASIC manufacturing in China stems from what they ...
The huge price increase most cryptocurrencies have experienced since the beginning of the year has made cryptocurrency mining one of the most profitable industries today. As the prices of Bitcoin and Ethereum reached their all time highs, miners began turning insane profits that haven’t been se...
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