The United States has opened a federal investigation into Bitmain, the Chinese giant that controls 80% of the Bitcoin mining hardware in America, literally shooting itself in the leg.
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JinseFinanceThe average return rate of the five major exchanges, Binance, OKX, Bitget, KuCoin and Bybit, was negative.
JinseFinanceAbu Dhabi-based Phoenix Group is set to acquire $187 million worth of new Bitcoin mining rigs from Bitmain Technologies, following a $380 million deal with WhatsMiner. The move aims to significantly boost Phoenix's Bitcoin hashing power, positioning the company as a major global crypto miner. The strategic expansion aligns with the recent approval of a Bitcoin exchange-traded fund (ETF) by the SEC, anticipating potential industry growth. Despite competition and profitability challenges in Bitcoin mining, Phoenix Group's aggressive approach underscores its commitment to staying competitive in the evolving sector.
EdmundBitmain has taken the step of suspending employee salaries, both performance-based and basic wages, in response to ongoing financial difficulties and setbacks in its mining operations.
KikyoTax authorities penalized Bitmain on April 4 for not paying personal income taxes under China’s tax collection and administration law.
Bitcoinist
Coinlive Coinlive Phil Harvey said that this type of miner can typically last a minimum of 36 months in a facility operated by their crypto firm Sabre56.
CointelegraphPreviously, it has been reported in the industry that Bitmain founder Ketuan Zhan intends to support Ethereum Classic.
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