Bitmain Sets the Stage for Expansion
Bitmain, the Bitcoin mining heavyweight, is gearing up for an ambitious 50% bump in its capacity within the next six months. This surge is backed by a monumental order of 600,000 cutting-edge mining chips. Talk about making moves!
The Hardware That Can Change the Game
According to insiders, these shiny new chips are of the latest 7nm variety, boasting an impressive hash rate of 50 tera hashes per second. For those of us who aren’t entirely caught up on the technical jargon, that’s like upgrading from a bicycle to a rocket ship in cryptocurrency terms.
From Red to Black: Mining Profits improve
The past year was no sweet ride for Bitmain, with 2018 leaving the company piecing together some serious losses. It was reported that they faced a staggering $625 million loss in the early months of 2019. But like the phoenix rising from the ashes, Bitmain is seeing green again. After some nourishing growth, various mining operators, including them and competitor Canaan Creative, have successfully sold off units to operators, such as the notable German operator Northern Bitcoin.
Future Prospects: IPOs and Increased Valuations
As their fortunes shift, Bitmain’s reevaluation of $12 billion isn’t just pie in the sky. It’s likely they are shaking off the aftershocks of bear market blues, especially with whisperings of a potential IPO on the horizon. Could 2020 be the year they finally reveal their grand plan to public investors? Only time will tell.
The Road Ahead
With plans to occupy a significant space in the boosting Bitcoin mining sphere, Bitmain continues to prioritize expansion and profitability. Will they secure a leading edge, or is this merely a teaser for the next chapter in crypto warfare? Stay tuned and keep your wallets ready!
