Crypto lender Matrixport seeks $100M funding despite lending crisis
Matrixport, the cryptocurrency firm founded by Bitmain co-founder Wu Jihan, is in the process of raising $100 million in funding despite the ongoing crypto market crisis. Lead investors have already committed $50 million for Matrixport’s new funding round at a $1.5 billion valuation, Bloomberg reported on Nov. 25. The deal has yet to be finalized […]
Bitcoin mining firm Bitdeer could delay public offering to 2023
Bitdeer, a crypto mining firm spun off from China-based mining manufacturer Bitmain, may see its public offering on the Nasdaq delayed a year depending on a vote from shareholders of the Blue Safari Group Acquisition Corp. In a Nov. 2 Securities and Exchange Commission filing, Blue Safari said it will be holding a shareholding meeting […]
Old Bitcoin mining rigs risk 'shutdown' after BTC price slips under $24K
Older Bitcoin (BTC) mining rigs are finding it difficult to generate positive revenues during the ongoing crypto market decline. 75% drop in Bitcoin mining profitability The profitability of many Application Specific Integrated Circuit (ASIC) machines has dropped into the negative zone after Bitcoin’s fall below $24,000 this June 13, data fetched by F2Pool shows. Those […]
Bitmain signs 500MW joint venture with sustainable BTC miner Merkle Standard
Beijing-based Bitmain has partnered with a United States-based sustainable Bitcoin miner, Merkle Standard, which will contribute capital investment, expertise and parts. As part of the joint venture, Bitmain will contribute to the development of up to 500 MW of clean digital mining infrastructure at Merkle Standard’s hydro-powered facilities in Eastern Washington. Bitmain is a household […]
Bitmain stops shipment of Antminer crypto mining rigs into China
Bitmain, a Chinese manufacturer of cryptocurrency mining equipment, has been forced to stop its business in China from Oct. 11 following the crypto ban imposed by local authorities. In addition to China’s blanket ban on crypto operations, the company has attributed the move to stop shipping Bitcoin (BTC) and cryptocurrency mining rigs as a response […]
Georgia on my mine: Bitmain brings 56K Bitcoin miners to the state
Chinese mining hardware giant Bitmain will be bringing 56,000 of its latest Antminers to the southeastern U.S. state of Georgia. The influx of mining rigs is part of a three-way deal between Nevada-based tech firm ISW Holdings, crypto mining datacenter Bit5ive, and Bitmain. The total cost of the hardware deployment will be around $62 million […]
Shanghai Man: Economist says El Salvador 'on road to death', salaries paid in e-CNY …
Our Man in Shanghai has refused to let recent regulations slow down the news coming from China. Enterprise blockchain, central bank digital currencies and start up projects continue to make a positive impact in a region hoping to grow economic value through technology. Death march for El Salvador The debate around El Salvador continued this […]