China’s Bitcoin Mining Rig Manufacturers Pressed by Demand, Advance Orders, D...
A regional report from China indicates that bitcoin mining rig manufacturers have seen a massive surge in demand since the price of the leading crypto asset skyrocketed. Companies such as Canaan Creative have placed significantly sized mining rig orders while other companies like Bitmain are completely sold out. Bitcoin Mining Rig Manufacturers Experience a Device Demand Boom Bitcoin (BTC) prices in February have spiked considerably in value and this has fueled the BTC mining sector a great deal. On Friday, the Bitcoin network hashrate is hovering above the 150 exahash (EH/s) range and....
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On Thursday, Foundry Digital LLC, the mining company and subsidiary of Digital Currency Group (DCG), announced the launch of Foundry Logistics in order to advance standards in the cryptocurrency mining industry. The newly launched arm of the company plans to “bridge the gap between hardware manufacturers and buyers by providing an all-in-one solution for mining hardware deliveries.”
DCG Company Foundry Launches Mining Logistics Arm
Foundry, the crypto mining, staking firm, and DCG company has announced the launch of a new company venture called Foundry Logistics.....
BW, one of the world’s leading Bitcoin mining hardware manufacturers, have posted an update regarding the status of their 14nm mining chip. As mining chips become smaller, they should consume less energy each while offering the same – or more – hashing power. So far, it seems BW has sold out their first batch of miners already, which is a positive sign for things to come. The BW 14nm Bitcoin Mining Chip. There has been a lot of interest for this new BW Bitcoin mining chip by the look of things, as there is a bigger demand than supply for the time being. For companies such as BW, this is a....
There was a time when Bitcoin mining hardware would sell out in days, just for preorders, now supply has seems to be outpacing demand. Some companies, despite not even fulfilling past orders, continue to offer more miners. It is sad for those who preordered months ago and calculated their returns based on past prices, but we are in a volatile market and one shouldn't assume continuous upward price growth; although, customers couldn't predict that some companies wouldn't deliver. The Bitcoin network was about 10 petahashes at the start of the year and now is over 60 petahashes. Some....
The third quarter was tough for mining rig manufacturers as the impact of COVID-19 continued to weigh heavily on the space. The stock of one of China’s "Big Three" mining firms is in free fall Monday after reporting another quarterly loss, underscoring the operating challenges imposed by COVID-19.Canaan Creative, which manufactures mining rigs, released its third-quarter financial results Monday. The company posted a net loss of $12.7 million, or 54 cents per share, on revenues of $24 million. Although quarterly revenues grew 5%, the company’s net losses more than quadrupled. Quanfu Hong,....
Bitcoin miner maker Butterfly Labs (BFL) is facing a class action suit, brought by customers from across the US. The class action was filed through Wood Law Firm LLC by a group of BFL customers challenging the sales and advertising practices of the Kansas-based mining outfit. Customers claim they ordered and paid BFL mining gear which they never received, or which they received long after BFL's promised shipping date. Not the first time for Butterfly Labs. Disputes are quite common in the world of mining hardware. Manufacturers are often keen to accept as many pre-orders as possible, often....