Blockcap, one of the largest Bitcoin mining firms in North America, has added more than 12,000 additional Bitmain Antminer S19s to its inventory. The firm — which currently mines approximately 6 Bitcoin (BTC) each day — is now expecting to deploy more than 40,000 Bitcoin miners by the fourth quarter and projects an operational hash rate of roughly 3.5 exahashes per second, or EH/s. This would equal roughly 2% of BTC’s current combined hash rate of 171.3 EH/s. Reportedly combining the assets of five pre-existing mining companies, Blockcap was founded in December 2020 by veterans of major blockchain-hosting company Core …

Bitcoin (BTC) mining rig manufacturer Bitmain has issued a notice to customers stating that business operations will resume as normal in light of former chairman and CEO Jihan Wu’s departure from the company. Orders of Bitmain’s ASIC mining rigs were previously halted temporarily in 2020 during an internal power struggle at the Beijing-based hardware company. In a dramatic saga that saw Bitmain’s two co-founders, Micree Zhan and Wu, attempt to oust one another from the leadership of the company, Zhan temporarily stopped a Shenzen subsidiary from shipping products to customers, as reported by local outlet The Block Beats at the …

At the beginning of this unusual and sometimes difficult year, the cryptocurrency world reminisced about the crypto mining boom and whether it was now over. But soon, the fears were washed away as large companies registered on Nasdaq expressed clear interest in mining Bitcoin (BTC) for additional earnings. It has been said more than once that this year’s sharp rise in mining is directly related to the significant increase in cryptocurrency prices. During the summer, Bitcoin could be bought at just above $10,000; now, it’s priced at well over double the amount. Altcoins are not lagging behind, either. Ether (ETH) …

For the past several months, miners around the world have been extremely active, which can be seen through spikes in hash rates that coincided with a significant increase in the prices of cryptocurrencies. At the beginning of 2020, Ether (ETH) could be bought for $130, and now, ETH has reached $500. The king of cryptocurrencies, Bitcoin (BTC), added almost a cool $10,000 to its price. So, how can users engage with the industry? What has been obvious for some time now is that solo mining is not the way to go. For Bitcoin, Ether and every major altcoin, the blockchain …

Nasdaq-listed Bitcoin (BTC) mining firm Riot Blockchain has announced a new purchase of 5,100 Bitmain S19 Pro Antminers, that are slated for deployment in February 2021. The new miners will be purchased for $11.2 million, and comes hot on the heels of a $17.5 million deal for 8,000 S19 Pros that was inked with Bitmain on August 24. Riot expects to achieve positive cash flow during late 2020 and reach an operational hash rate of 0.55 EX/s before the end of the year. Riot currently represents more than 0.35 EX/s in hash power, or nearly 0.3% of the global hash …

Major cryptocurrency mining hardware manufacturer Bitmain is making a major sale to Riot Blockchain, a Nasdaq-listed crypto mining company. According to an Aug. 24 announcement, the firms signed a $17.7 million purchase agreement for 8,000 Bitmain Antminer S19 Pros that includes a delivery schedule of 2,000 units on a monthly basis starting in January 2021 until the order is complete. Bitmain launched the Antminer S19 Pro earlier this year, with a hash rate of 110 terahashes per second and a power efficiency of ~29.5 joules per terahash, nearly double the power efficiency per terahash of previous miner models. Irene Gao, …

Bitmain, the world’s largest Bitcoin (BTC) mining hardware company, is postponing its product orders amid ongoing internal conflicts. As officially announced on Aug. 6, Bitmain will be delaying their June and July 2020 Antminer orders by at least two or three months due to “external interference on company operation.” According to the announcement, the orders will be postponed until September or October 2020 “at the earliest.” Bitmain drama is to blame While Bitmain is citing “external interference,” some industry experts are confident that the delay is caused by internal issues at the company. Dovey Wan, founding partner of blockchain investment …

In the ongoing power struggle at cryptocurrency mining giant Bitmain, not only have accusations of “illegal power seizures” made headlines, but now the physical theft of mining hardware as well. A new post on Bitmain-owned Antminer’s WeChat channel alleges that former Bitmain staff have “illegally moved” 10,000 Antiminer Bitcoin (BTC) mining rigs from a company-owned facility in Mongolia. The machines — among them models from the S17 and T17 series and flagship S9 miners — were reportedly removed in mid-July, causing “serious economic losses to the company and customers.” The incident has been reported to the police and public security …

Recent investments into cryptocurrency mining equipment by smaller players could be a positive signal for the longevity and value of Bitcoin (BTC). In late June, United States-based blockchain firm Core Scientific ordered over 17,000 of the latest Bitcoin mining ASIC machines from Chinese hardware producer Bitmain. The news made waves in the industry as the largest known order of Antminer S19s by a single operator. Core Scientific will use some of the machines for its own operations while the rest will be used for its cloud-based mining services for clients. Furthermore, one of its major clients, Horizon Kinetics, has increased …

United States-based crypto mining host Core Scientific has announced that the $5.3 billion asset manager and hedge fund Horizon Kinetics has upgraded its investment to access Bitmain’s news Antminer S19 and S19 Pro models. The July 2 announcement comes less than two weeks after Core Scientific announced a record purchase of 17,595 units of latest mining machines — comprising the largest sum of Antminer S19s purchased by a single mining hosting company.so far. US mining firm buys 17,595 Antminers Since first partnering last more than one year ago, Core Scientific reports that Horizon Kinetics has tripled the number of miners …

U.S. mining firm Riot Blockchain has published its financial report for Q1 2020 — painting a picture of a company heavily reliant on equity and debt financing to fund its operations. The firm reported recurring losses and negative cash flows from its operations, with Riot anticipating continued losses over the near term. But the mining outfit is pinning its hopes on the arrival of 2000 next generation mining machines it believes will enable it to double its operational hash rate. Riot improves year-over-year performance As of March 31, 2020, Riot Blockchain reported holding cash and cash equivalents worth $14 million; …

U.S.-based mining firm, Riot Blockchain, has more than doubled the number of next-generation Bitcoin (BTC) miners it has purchased, buying 1,040 Antminer S19s from Bitmain on May 6. The additional miners cost the firm $1.9 million, following Riot’s purchase of 1,000 S19s Pros, revealed on April 30. Riot predicts 80% increase in hash rate after deploying S19s Anticipating that the units will have been shipped and deployed during the third quarter of this year, Riot expects the coming 2,040 S19s will increase its operational hashrate by 80% by 2021. In total, the Riot predicts that it will command an operating …