• 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
    • 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
  • Bet & win BTC
Breaking News: Crypto Exchange Binance To Launch Prepaid Card In This South American Country
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • 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
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Crypto Exchange Binance To Launch Prepaid Card In This South American Country
Bitmain Begins Expansion into South America
Advertisement

Bitmain to Increase Hashrate By 50% With 600,000 New Mining Chips

Julio Gil-Pulgar by Julio Gil-Pulgar
3 years ago
in Bitcoin Mining, Bitcoin, News, News teaser
0
Advertisement

Showing renewed optimism, Bitmain is increasing its investments in the crypto mining industry. Now, Bitmain is reportedly buying 600,000 new crypto mining chips. As a result of this new investment, the company expects to make over $1 billion in profits.


Bitmain to Increase its Capacity By 50% Hash rate

The battle to produce fast cryptocurrency mining gear is heating up. In this context, Chinese Bitcoin mining giant, Bitmain Technologies Ltd, is placing orders for new mining machines with high hash rate capacity.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

In this connection, and according to a Chinese news outlet, “Recently, a supply chain person close to TSMC broke the news.” This source reported that Bitmain has recently placed new orders for 600,000 mining chips.

As Bitcoinist reported earlier, Taiwan Semiconductor Manufacturing Company (TSMC) is Bitmain’s chip supplying contractor. TSMC ranks as one of the most profitable chipmakers in the world.

Moreover, according to the same source, some of these chips include the latest 7nm model, with a single power of 50 Tera hashes per second. The recent Bitmain order also comprises 16nm model chips.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Therefore, within a few months, observers believe that Bitmain’s total network computing power could skyrocket by about 50%.

Company Hopes to Reach a Valuation of $12 Billion

Despite losses in the first quarter of 2019, which reached approximately $625 million, Bitmain remains optimistic about the strengthening of the mining industry. In effect, with this new investment, the company expects to hit a valuation of $12 billion.

Last February, Bitmain announced its next-generation 7nm ASIC chip, BM1397, which boasts improvements in performance and energy efficiency. These chips are designed to mine cryptocurrencies using the SHA256 algorithm for proof-of-work purposes, such as Bitcoin and Bitcoin Cash.

Moreover, the Antminer models come with enhanced hash rate capacity. Last April, the chipmaker announced the specifications for the latest 7nm Antminer 17 series. For example, the Antminer 17 Pro comes in two variants, a 53 TH/s and a 50 TH/s capacity models.

In addition, according to Bloomberg sources, Bitmain is working with specialists to prepare for a U.S. share sale that could occur as soon as the second half of 2019.

What do you think about Bitmain’s new investments in crypto mining? 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.

Julio Gil-Pulgar

Julio Gil-Pulgar

Julio has worked for Fortune 100 companies and the United Nations. He has led projects involving IT, operational, and compliance audits, in the U.S. and throughout the world. His expertise is in cryptocurrencies, IT engineering, risk management, and security. Julio is also a tango dance enthusiast.

Related Posts

Bitcoin Soars In Nigeria As Government Promotes Digital Cash

Bitcoin Soars In Nigeria As Government Promotes Digital Cash

9 hours ago
Bitcoin Crypto

Can The Federal Reserve Counterattack Stop The Crypto Bull Run?

15 hours ago
Bitcoin

Bitcoin Bearish Signal: Aged Supply Flows Into Binance

20 hours ago
Bitcoin this week

Bitcoin And Crypto This Week: Here’s What Will Be Important

24 hours ago
Bitcoin price

Bitcoin Price Nears $24,000 Mark – Can Bulls Push BTC To $25K This February?

1 day ago
50% of Bitcoin hashrate Controlled by Two Mining Pools

Data Shows 50% Of Bitcoin Hashrate Controlled By Two Mining Pools

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • California DMV Puts Car Titles On Tezos (XTZ) Blockchain...

    1 hour ago
  • Bitcoin Cash (BCH) Associates With TREZOR Wallet, Litecoin...

    1 hour ago
  • Avalanche (AVAX) price rally stalls, Polkadot (DOT) was #1...

    1 hour ago
  • Orbeon Protocol And VeChain Seek To Impact The Real World...

    2 hours ago
  • Meta Masters Guild Presale Raises Over $2m Ahead of Stage 5...

    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
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • 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
  • Bet & win BTC

© 2022 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.