Bitmain and Huobi Plan Layoffs as Cryptocurrency Crunch Begins to Bite

Cryptocurrency Mining

Two of the world’s biggest cryptocurrency companies have confirmed lay-off plans amid an industry crunch that has seen US$170 billion wiped off bitcoin’s market value this year. Beijing-based Bitmain Technology, the world’s biggest maker of cryptocurrency mining rigs, said in a statement that the company is undergoing “some adjustment to our staff this year” as […]

Bitmain Closing Israeli Development Center

Bitmain

The development center of Bitmain set up in Ra’anana two years ago under Gadi Glikberg will close this week and its 23 employees will be laid off, “Globes” learned this morning. Glikberg, who is a VP at Bitmain, will also leave. The Israeli activity of one of the largest companies in the global blockchain industry […]

Bitcoin BCH Hash War Will be Decided by Sustained

Bitcoin Cash

With the Bitcoin BCH network upgrade on November 15, a hash war has begun with miners voting between Bitcoin SV and Bitcoin ABC – two competing implementations of the BCH protocol. As fully expected, Bitcoin ABC appeared to take a temporary lead on the first day by receiving an artificial boost from temporary, “rented” hash […]

Investors Losing Interest in ICOs

Investors

Autonomous Research noted three reasons that could explain the drop in token sale activity. “First, perhaps investors have devalued the idea of buying a utility token (does nothing yet, legally non-binding), and instead want to buy equity in the same companies,” the firm wrote. By examining “Pitchbook’s data on blockchain and bitcoin venture capital raises,” […]

Bitmain Acquires Bitcoin Cash Wallet Telescope

Bitcoin Cash Wallet

Bitmain announced Monday it has acquired the startup behind an open-source bitcoin cash wallet called Telescope. The browser-based wallet was launched earlier this year in an effort to enable instant bitcoin cash transactions. At present, Telescope can operate on Google Chrome or Mozilla Firefox, according to a press release, though the team it plans to […]

Bitmain Likely Lost $400 Million Last Quarter

Bitcoin Price

Bitcoin mining behemoth Bitmain likely posted a net loss of nearly $400 million last quarter, the China-based firm’s recently-filed public offering documents reveal. Much information about the company is redacted in the public versions of those filing documents, but, according to a thorough analysis published by BitMEX Research, there is enough data to glean that Bitmain […]

Mining Giant Bitmain Officially Filed for Its IPO

Cryptocurrency Mining

Chinese crypto mining giant Bitmain has filed a draft application for listing the company’s shares on the Hong Kong Stock Exchange (HKEX), according to an official application document published Wednesday, September 26. Bitmain has provided a draft application proof that is required for public listing on the HKEX, aiming “solely” to disclose information to the […]

Bitmain’s Permissionless Ventures Launches First Project

Cryptocurrency mining

Cryptocurrency mining hardware giant, Bitmain, is sponsoring a Bitcoin Cash (BCH) hackathon in the United States — San Francisco, to be exact. For the China-based company, BCH Dev Con is the first project financed by its $50 million fund, Permissionless Ventures (PV). Arguably one of the most successful companies in the ecosystem, the crypto mining […]

Vietnam Confirms Suspension of Bitcoin, Cryptocurrency Miner Imports

Vietnam

After months of deliberation, Vietnam has moved to halting imports of cryptocurrency mining equipment according to a customs department in the country. Domestic businesses and individuals have stopped importing crypto mining equipment altogether since the beginning of July, according to the Ho Chi Minh City (HCM) Customs Department, as reported by Viet Nam News on […]