Bitmain’s CEOs might be stepping down because of the bear market. On Jan. 10, news emerged that Chinese Bitcoin mining giant Bitmain’s co-founders, Jihan Wu and Micree Zhan Ketuan, will step down as co-CEOs of the company. The move follows a streak of reports suggesting that Bitmain has been facing mass layoffs, class action lawsuits and […]
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Anonymous people familiar with the plans told local mainstream media that Bitmain’s product engineering head will replace the duo. Chinese Bitcoin mining giant Bitmain’s co-founders Jihan Wu and Micree Zhan Ketuan will quit their posts as co-CEOs but still steer the company’s important decisions. Hong Kong-based English-language news outlet South China Morning Post reported the […]
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Having failed to conduct an IPO in Hong Kong, Canaan is apparently eyeing an alternative jurisdiction. Chinese Bitcoin mining hardware manufacturer Canaan Creative is considering a new initial public offering (IPO) in New York, Bloomberg reported on Jan. 8, quoting anonymous sources. Canaan, China’s second-largest hardware player, could begin selling its shares in a private […]
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Japan’s GMO Internet Group has confirmed it took a steep hit in overall mining revenue, but saw an increase in monthly BTC mining rewards. Japanese IT giant GMO Internet Group has published the latest monthly disclosure on its in-house crypto mining operations, confirming that it took a steep hit in overall mining revenue. GMO released […]
Continue ReadingBitcoin Private confirmed the secret creation of an additional 2 million coins, and South Korea rules in favor of Bithumb in investor lawsuit. Top Stories This Week Nvidia Faces Class Action Lawsuit Over Losses After Lower GPU Mining Demand Graphics processing unit (GPU) producer Nvidia is currently facing a class action lawsuit over losses that […]
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A Taiwanese man has been arrested on suspicions of stealing electricity worth over $3 million to mine Bitcoin and Ethereum worth around $14.5 million. A Taiwanese man suspected of stealing electricity worth over $3 million to mine Bitcoin (BTC) and Ethereum (ETH) has been arrested, according to a report from local news channel EBC Dongsen […]
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Crypto markets are lacking in Christmas cheer, with virtually all of the top 100 coins by market cap in the red. Friday, Dec. 25 — crypto markets are lacking in Christmas cheer, with many major crypto assets hit with double-digit losses. Virtually all of the top 100 coins by market cap are in the red, […]
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The company said that tens of billions of yen in lost profits led it to the decision, which will also see it move its mining center. Japanese internet giant GMO Internet Group is quitting the Bitcoin mining hardware sector, Cointelegraph Japan reported Dec. 25 referencing a public document. Citing “extraordinary loss” in Q4 this year, […]
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Bitmain’s IPO faces fresh claims that it is unlikely to launch under current regulatory conditions in Hong Kong. Hong Kong stock market regulator is reportedly reluctant to allow Bitcoin mining equipment manufacturer Bitmain to conduct an initial public offering (IPO) in the city. Local English-language newspaper South China Morning Post (SCMP) made this claim in […]
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Iranians who are turning to Bitcoin mining due to economic difficulties caused by U.S. sanctions still manage to profit due to low electricity prices. Iranians are turning to Bitcoin (BTC) mining due to economic difficulties caused by sanctions by the United States, International affairs think tank Atlantic Council reported Dec. 17. Despite the recent crash […]
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