Nasdaq, the world’s second-largest stock exchange, is going to introduce new restrictions on initial public offerings, or IPOs, to prevent smaller Chinese companies from getting listed, a recent Reuters report citing anonymous sources suggests. Chinese IPO seekers tend to lack accounting transparency and have “close ties to powerful insiders,” Reuters’ sources claim, which is why the new rules will reportedly set out a minimum value on the size of IPOs for the first time on Nasdaq. Specifically, the exchange might require companies “from some countries, including China,” to raise at least $25 million in their offering or, alternatively, at least …

Since it was first launched back in August 2017, Bitcoin Cash (BCH) has failed to make an impact in terms of metrics like price and trading volume. Having said that, the altcoin, whose roots can be found in the epic Bitcoin (BTC) scaling debate of the mid-2010’s, still has its hardcore supporters. And new research shows these supporters are willing to mine BCH even when it would be more profitable to mine on the Bitcoin network. Data shows someone is propping up Bitcoin Cash Luxor Mining Pool Operator, Ethan Vera, has been looking at the rise of so-called “tribalist” mining …

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 …

We recently reported that Bitmain’s CFO, Luyao Liu, was arrested after allegedly partaking in a mob attack in Beijing. Recent updates suggest, however, that this was not the case. At the time, sources claimed that the attack was on the company’s ousted co-founder, Micree Zhan. Local reports suggest that Liu was taken away by police after robbing Zhan of a business license meant for the mining giant’s main subsidiary, Bitmain Beijing. What Really Happened According to CaiXin News According to CaiXin news: “According to Caixin reports, the party was Bitmain’s chief financial officer and legal representative, Liu Luyao, and others. …

Bitmain's chief financial officer and supposed legal representative, Luyao Liu, was arrested after allegedly partaking in a mob attack on the company’s ousted co-founder Micree Zhan in Beijing, local reports suggest. Liu was “taken away by the police” after Zhan was robbed of a business license for Bitmain Beijing, the mining giant’s main subsidiary, Chinese cryptocurrency news outlet Deepchain reported on Friday. The ex-senior executive has been engaged in a power struggle with Jihan Wu, also a Bitmain co-founder, who ousted him from the company in October 2019. According to Primitive Ventures’ founding partner and prominent industry commentator Dovey Wan, …

Chinese mining hardware company Bitmain has admitted to having issues with some of Antminer S17 units. “Antminer is paying close attention to the issues of some products from the 17 series, which has recently been mentioned by the media,” a Bitmain spokesperson told Cointelegraph on May 6, adding: “During this process, we have begun to negotiate solutions with customers who have encountered issues from the product. Antminer has always been adhering to the concept of placing customers first. If any customer has any product issues, please contact the official customer service of Antminer at any time.” As recently reported by …

The Telegram group, started by Arseniy Grusha on May 1, co-founder of United States-based cryptocurrency consulting and mining firm Wattum, contains several complaints about Bitmain products, primarily the Antminer S17+. “I have never seen such defective production before,” Grusha wrote on his LinkedIn page on May 4. “In case you have a similar problem, I have created a telegram group where you can share your experience with the latest deliveries of these miners.” 30% failure rate reported In an interview with Cointelegraph, the mining entrepreneur explained that his company received 420 Antminer S17+ devices in March after a month-long delay …

Chinese cryptocurrency hardware manufacturer Bitmain seems to be bouncing back after a streak of dismal reports. Earlier this week, a local industry blog revealed that the mining giant has accumulated over $300 million in revenue so far this year and is rewarding employees with massive bonuses on Labor Day. Bitmain has since confirmed that information to Cointelegraph but ignored additional questions. Therefore, how does a mining company go about scoring profits amid the pandemic and the Bitcoin halving frenzy, the latter of which is said to shake things up for miners? A brief recap of Bitmain’s fluctuations Bitmain was founded …

Chinese cryptocurrency hardware manufacturer, Bitmain, made over $300 million in profit in the first four months of 2020. This news comes despite the COVID-19 outbreak and recent rumours about in-house problems, a recent report suggests. Bitmain allegedly earns over $300 million, rewards employees with massive bonuses According to the industry blog, Wu Said Blockchain, Bitmain announced internally that the company had earned over $300 million so far this year. Further, the mining giant reportedly regained some market share as it opened four new mining facilities and saw the hashrate increase on two of its mining pools. Notably, the report mentioned …

The world’s largest cryptocurrency mining rig producer Bitmain released a statement on April 27 condemning deposed co-founder Micree Ketuan Zhan’s attempts to regain control over Fujian Zhanhua Intelligence Technology Co. Ltd. In an email on October 29, 2019, co-founder Jihan Wu disclosed that he was dismissing his Bitmain partner and chairman Micree Zhan. He also issued a strict warning to all Bitmain staff not to contact or attend meetings with Zhan. Following his dismissal, Zhan resorted to legal measures to regain his position at Bitmain. He has so far filed two complaints against Bitmain and its subsidiary Fujian Zhanhua Intelligence …

Cryptocurrency miners relying on the Bitmain S17 and T17 Antminer have said that the rigs have failure rates between 20-30% where they would normally be roughly 5%. According to an April 26 tweet from Samson Mow, Chief Strategy Officer (CSO) of blockchain infrastructure firm Blockstream, Bitcoin (BTC) miners using rigs from the world’s largest manufacturer of cryptocurrency mining equipment have been reporting technical issues. Heat sinks on the Antminer S17 and T17 rigs have been falling off, causing the machines to short out. In addition, users have reported problems with the power supply fans on the S17. Both pieces of …

Bitcoin (BTC) ASIC manufacturer MicroBT has revealed its new mining hardware, boasting a hash rate of 100 terahashes per second (TH/s). This product unveiling demonstrates that competition is heating up among major ASIC manufacturers, following Bitmain’s pre-sale of its S19 Antiminers. MicroBT’s forthcoming M30 series of Bitcoin miners, the MS30S++ and the MS30S+, were revealed to 4,000 attendees of an online launch event on April 17. The company says that its flagship unit (the ++ model, of course) is capable of 112 TH/s at a power efficiency of 31 joules per terahash (J/TH). The M30S+ reportedly clocks in at 100TH/s …