Bitmain


Finance

Bitcoin Mining Unit Manufacturer MicroBT Nibbles at Bitmain's Market Share

Bitcoin miner maker MicroBT rapidly expanded market share by selling over half a million units in 2019, chipping away at rival Bitmain's dominance.

MicroBT founder Yang Zuoxing speaking at an event hosted by Poolin in September 2019.

Markets

How the Long Tail of the Coronavirus Might Slow Bitcoin's Hash Power Growth

The shortage of new mining machines caused by the coronavirus outbreak could curb computing power growth from Chinese miners who contribute over 65% of Bitcoin’s hash power.

The coronavirus outbreak could arrest the growth of bitcoin's hash power, as quarantine controls are forcing miner assembly lines to shut down and mining farms to run with skeleton crews. (Image via Robert Wei / Shutterstock)

Markets

US Judge Dismisses Bitcoin Cash 'Hijack' Lawsuit Against Bitmain, Kraken

A U.S. court has dismissed UnitedCorp's market manipulation lawsuit against Bitmain, Kraken, Bitcoin.com and others without prejudice.

Kraken CEO Jesse Powell

Markets

Coronavirus Controls in China Are Delaying Crypto Miner Deliveries, Firms Say

MicroBT and Canaan have notified customers they would be delaying ASIC deliveries due to the Chinese government's quarantine of Wuhan following the coronavirus outbreak.

(Image via Shutterstock)

Finance

How Was It Possible for Bitmain to Oust Its Largest Shareholder Overnight?

Corporate documents reveal new details about the ouster of Bitmain co-founder Ketuan "Micree" Zhan.

Micree Zhan, co-founder of Bitmain. (Credit: CoinDesk archives)

Markets

Canaan’s Post-IPO Stock Plunge Reveals Sales Slump, Price War With Bitmain

Cryptocurrency mining computer-maker Canaan Inc. may have picked the worst time for its initial public stock offering.

Credit: CoinDesk archives

Markets

Bitmain’s Miner Manufacturing Subsidiary Had $680K in Assets Frozen in a Contract Dispute

In the latest contract dispute to hit the firm, $680,000 belonging to a fully owned subsidiary of bitcoin mining giant Bitmain has been frozen by a Chinese court.

(Credit: Shutterstock)

Finance

Founder of Bitmain Rival MicroBT Arrested for Alleged Embezzlement

The arrest, noted by the Shenzhen Nanshan District Prosecutor on Dec. 12 and reported by business publication Caixin on Sunday, comes amid ongoing battles between mining giant Bitmain and MicroBT, which has been a rising competitor this year challenging Bitmain's market dominance.

MicroBT founder Yang Zuoxing speaking at an event hosted by Poolin in September 2019.

Markets

Highest in 2 Years: 65% of Bitcoin Hash Power Is in China, Report Finds

For all of bitcoin’s promise of being the world’s first decentralized, peer-to-peer cryptocurrency, 65 percent of the total hash power resides in China, according to a recent report by CoinShares Research.

Chinese President Xi Jinping

Markets

Ride 'Em, Cowboy: Bitmain's Marketing Gambit Ups Its Texas-Sized Position on Bitcoin

Bitmain's new strategy of giving put options on bitcoin to buyers of its miners amounts to a "Texas hedge" – doubling down on risk, not offsetting it.

Big Tex image via Leena Robinson/Shutterstock