Some Bitcoin (BTC) miners might become unprofitable again as a result of the latest difficulty adjustment. Earlier this week, the network mining difficulty adjustment saw a 14.95% spike, its largest increase since January 2018. The regular update, which occurs every 2016 blocks, has been pre-coded into the blockchain to keep mining speed at approximately 10 minutes for a block. The latest adjustment might thwart an emerging trend in the mining sector: older generation machines coming back online after the halving. In May, the Bitcoin block reward was halved, causing a substantial number of miners to pull the plug on older …

The Bitcoin (BTC) mining ASIC manufacturing industry is expected to further consolidate due to tightened competition, geopolitical pressures and slower returns on investment after Bitcoin’s recent halving. In a new report from crypto derivatives exchange BitMEX, published June 15, researchers wrote they “think it is likely that only 2 to 3 players will survive into the longer term.” The report analyzes the history and present state of the ASIC manufacturing industry, with a focus on the major players currently involved —- Bitmain, MicroBT, Canaan and Ebang. ASIC refers to mining hardware that uses Application-Specific Integrated Circuit chips, which are tailored …

After physically taking over the Beijing Bitmain office, ousted CEO Micree Zhan is reportedly regaining control and is blocking the delivery of Bitmain products from its Shenzhen factory. According to sources of Chinese publication BlockBeats, Zhan issued an order prohibiting employees from shipping products to Bitmain’s customers. The reason for doing so remains unclear. As Cointelegraph previously reported, Zhan appears to have re-obtained the legal representative position of the Bitmain mainland China subsidiary, which is formally owned by a Hong Kong holding, which remains under the control of Jihan Wu. Jihan Wu’s response A statement coming from Jihan Wu’s side …

Earlier this week, Chinese mining-hardware juggernaut Bitmain unveiled its new product, an application-specific integrated circuit called Antminer T19. The Bitcoin (BTC) mining unit is the latest to join the new generation of ASICs — state-of-the-art devices designed to mitigate increased mining difficulty by maximizing the terahashes-per-second output. The Antminer T19 announcement comes amid the post-halving uncertainty and follows the company’s recent problems with its S17 units. So, can this new machine help Bitmain to reinforce its somewhat hobbled position in the mining sector? T19: The cheaper S19 According to the official announcement, the Antminer T19 features a mining speed of …

The power struggle inside Bitmain appears to have greatly intensified between June 3 and 4, as reports circulated that Micree Zhan hired guards to take over the company’s Beijing office. According to Chinese publication BlockBeats, former CEO Micree Zhan led a team of “Bao Ans,” or private guards, to physically take over Bitmain’s office in Beijing on June 3. The report includes a video, which has been picked up by several official Chinese media channels. The next day, an open letter from Zhan began to circulate in Chinese social media. In the document, Zhan claimed to have resumed control of …

United States firm, Marathon Patent Group, announced that it installed 700 units of Bitcoin (BTC) mining application-specific integrated circuit, or ASIC, units. According to a June 3 announcement, Marathon Patent Group installed 700 Whatsminer M30S+ ASICs produced by MicroBT. The company is also reportedly waiting for a delivery of 1,160 AntminerS19 Pro units produced by leading mining ASIC producer, BitMain. In late March, Bitmain announced that it sold the first batch of Antminer S19s and S19 Pros within 24 hours after starting to accept orders. On June 1, the firm also announced the launch of its newest Antminer T19 features …

World-leading mining hardware producer Bitmain launched its new Antminer T19 Bitcoin Mining application-specific integrated circuit (ASIC). According to a June 1 announcement, Bitmain’s new Antminer T19 features a SHA256 hash rate of 84 terahash/second with a 3% error margin and a power efficiency of 37.5 joules/terahash with a 5% error margin. The new ASIC model will be sold on the producer’s official website starting today and shipments will start between June 21 and 30. The chips used in the new device are the same as those featured in the Antminer S19 and S19 Pro, but it also uses the new …

Bitmain’s “Ant Training Academy” certification program will soon be available in North America. This will be the first location to receive this accreditation outside of China. The new location was developed in partnership with Core Scientific, a U.S. based mining hosting provider. The company announced the collaboration on May 28, with the first courses set to launch in the fall of 2020. The new academy will be located in Dalton, Georgia, and offers the same “highly regarded training and certification services” as in the China-based entity. On-site repairs are key This may have important implications for the mining industry in …

Adtech firm tribeOS launched shares in its company as tokenized securities via GSX Group’s GRID platform. According to an announcement shared with Cointelegraph on May 27, the shares were already created using GSX Group’s STACS proprietary blockchain network. Per the announcement, STACS is designed to bring more efficiency to the legacy capital markets. GSX Group’s CEO, Nick Cowan, highlighted that tribeOS is the first company to utilize the firm’s GRID security tokenization platform and welcomed other companies that wish to “accelerate the adoption of blockchain within the capital markets.” He also explained what the firm is trying to achieve: “Our …

Mining equipment producer Bitmain has issued two concurrent statements regarding its disgraced co-founder Micree Zhan, confirming his ousting in October. The statements were posted on Bitmain’s Weibo page on May 27, both of them reiterating that Micree Zhan, the company’s former chairman and legal representative, was removed from his position by a shareholders’ decision on Oct. 28, 2019. On November 5, the statement reads, the company passed the executive director’s decision to remove Zhan from management. The company further states that Zhan has no right to act as the company’s legal representative or issue notices and instructions to company employees. …

The government of China’s Sichuan province moves to stamp out Bitcoin (BTC) mining activity, citing that growing cryptocurrency prices have led to the escalation of illegal activity under the guise of mining. Sichuan — 10% of the global hashrate According to estimates from Cambridge University, Sichuan is responsible for almost 10% of the global hashrate. In fact, this single Chinese province mines more Bitcoins than the entirety of the U.S. or Russia. China: Bitcoin Mining Map. Source: Cambridge University. Apparently, Sichuan was previously trying to attract the miners in order to combat the economic downturn and employment brought about by …

Things haven’t quite been the same since the Bitcoin (BTC) halving. A substantial number of miners have pulled the plug on their equipment due to the halved reward. Consequently, transaction fees are now considerably higher, the hash rate has shed around 25%–40%, and new blocks are generated at remarkably low speed. So, what can be done to prepare for this new post-halving reality, or will things return back to normal in the near future? Here is a closer look at which blockchain processes have been affected. Hash rate One of the most important post-halving trends is the decreased hash rate, …