• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Breaking: Binance Shocks Employees With Sudden Layoffs - What's Next For The Crypto Giant?
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Binance Shocks Employees With Sudden Layoffs - What's Next For The Crypto Giant?
Bitmain Begins Expansion into South America

Bitmain Begins Expansion into South America

Osato Avan-Nomayo by Osato Avan-Nomayo
3 years ago
in Bitcoin Mining, Companies, News, News teaser
0

Bitmain is looking to establish a significant presence as it partners with two Bitcoin mining consulting firms. Meanwhile, co-founder Jihan Wu continues to consolidate his hold on the company amid an ongoing power struggle.


Bitmain Partners with Bitcoin Mining Consultants in South America

In a press release published on Thursday (December 12, 2019), Bitmain announced its partnership with Bit5ive and Fastblock. Both companies are crypto mining consultants and Bitmain is looking to use them as official distributors of its flagship Antminer Bitcoin mining hardware in South America.

Bitmain says it is hoping to leverage the extensive contacts both companies have in the region. The Bitcoin mining giant also said that it chose both companies because of their expertise in logistics, customer service, and consultancy.

Commenting on the new partnerships and its move to pursue expansion in the South American market, Bitmain executive Irene Gao remarked:

South America continues to be an important region for the cryptocurrency mining sector. Our collaboration with Fastblock and Bit5ive will help us to build on the relationships we have with the mining community on-the-ground and instill trust in the sales process of Antminers.

In late November, Wu announced the launch of new additions to the Antminer 17 series. During the announcement, the Bitmain co-founder said the new miners included hash rate and power efficiency-enhancing features.

Jihan Wu Regains Control

Meanwhile, Wu continues to solidify his control over the company with the co-founder reportedly holding a private meeting with Bitmain executives. At the meeting, Wu purportedly highlighted all the current business projects ongoing at the firm.

This move is the latest salvo in the tussle between Wu and ousted fellow co-founder Micree Zhan. As previously reported by Bitcoinist, Zhan is looking to take legal actions against Wu, accusing some Bitmain officials of betrayal.

After a difficult 2018 and a lackluster start to 2019, Bitmain has lost a significant portion of its Bitcoin mining dominance. The company is, however, looking to file an IPO in the U.S. with fellow competitor Canaan already completing a similar public sale.

In a departure from its operational downsizing of late 2018, Bitmain has begun to pursue expansion plans, unveiling a 33,000-acre Bitcoin mining facility in Texas. The company is also planning to increase its hash rate capabilities by as much as 50% with purchase orders for 600,00 new crypto mining chips.

What do you think about Bitmain’s planned expansion into the South American Bitcoin mining market? Let us know in the comments below.


Images via Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Osato Avan-Nomayo

Osato Avan-Nomayo

When I am not knee-deep in cryptocurrency-related news, I am either attempting to beat my scrabble high score or internally debating an existential dilemma.

Related Posts

Bitcoin BTC

Bitcoin Mining Continues To Expand Despite Profitability Challenges

19 hours ago
Bitcoin mining

Bitcoin Mining Adopts Sustainability Scoring System: Fad Or Future Industry Norm?

1 week ago
Bitcoin

The Great Bitcoin Mining Renaissance: Why 2023 Could Be The Turning Point

1 week ago
Crypto.ro and Binance Unveil the 3rd Binance Meetup in Romania, Set in Timisoara

Crypto.ro and Binance Unveil the 3rd Binance Meetup in Romania, Set in Timisoara

1 week ago
PrimeXBT crypto futures: A detailed review 2023

PrimeXBT crypto futures: A detailed review 2023

4 weeks ago
Cryptocurrency

Biden’s Proposed 30% Tax On Cryptocurrency Mining Is A Bad Idea Says US Presidential Aspirant

1 month ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    2 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    2 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    2 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • 6 Figures Crypto Portfolio Builder: Cosmos (ATOM)...

    40 mins ago
  • Floki Inu Trading Volume Jumps 300% in 24 Hours—Enough to...

    2 hours ago
  • Why The Rapid Progress of Scorpion Presale Threatens Crypto...

    3 hours ago
  • Easiest 10,000% in 2023: Shiba Inu Whale Jumps Ship To This...

    3 hours ago
  • Binance Coin (BNB) introducing a New Gas Grant, Litecoin...

    4 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.