• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • 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
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • 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
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Polymarket Set To Go Live In The US Following CFTC Approval, Says CEO
🚀 BUY NEO PEPE PROTOCOL 🚀
  • 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
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • 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
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Polymarket Set To Go Live In The US Following CFTC Approval, Says CEO
mining farm

David Vs. Goliath: Companies Like MicroBt Look To Challenge Bitmain’s Dominance

Kevin O’Brien
by Kevin O’Brien
6 years ago
·
Posted in Companies, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitmain is well-known across the cryptocurrency community for dominating the mining hardware market. Some think the Chinese giant might be losing its edge, and a growing number of competitors are emerging to challenge the company.


A number of companies have tried to establish themselves as a force in the cryptocurrency mining world. The vast majority have gone out of business — except for a Chinese firm called Bitmain.

Estimates are that Bitmain controls at least 70 percent of the global market for hardware related to Bitcoin mining. Other research suggests mining pools affiliated with the company makeup at least 40 percent of the available Bitcoin mining computer power.

Growing Influence…But Losing Their Edge?

Bitmain has not been shy about expanding its influence.

Bitcoinist reported in August how the industry giant was getting ready to open up a mining and data center in small Rockdale Texas, population 5,681. About a month earlier, some smaller Bitcoin miners in Quebec expressed concerns about Bitmain’s massive lobbying efforts in the area that were creating business conflict.

However, some speculate the Beijing-based company might be losing its edge in the cryptocurrency world.

In an August report, Sanford C. Bernstein & Co. points out how “the competitiveness of Bitmain’s chips is in question” while also citing a number of upstart companies which are slowly becoming legitimate competition.

Roughly a week ago, Sia decided to push forward with a hard fork in order to brick out ASICs from Bitmain and Innosilicoin.

Competition In Every Area

One of the startup companies that has attracted attention as a potential competitor is MicroBT.

Headquartered in Beijing, MicroBT was founded by Yang Zuoxing after he left Bitmain in 2016.

Yang told Bloomberg how he worked on some of Bitmain’s leading technology, like the Antminer S7, but decided to go out on his own after he was denied a stake in the company.

Yang says MicroBT’s mining gear makes the company a legitimate competitor since its Whatsminer M10 is more efficient than Bitmain’s S9i. He won a patent lawsuit against Bitmain after leaving the company, once the judge said the circuit designs at the center of the case were already widely used.

So far, MicroBT has been able to raise about $22 million in investment capital and is looking for more cash from institutional investors. Yang is also thinking about filing an IPO.

A couple of other companies, like Canaan Inc. and Ebang International Holdings Inc., are also looking for ways to raise cash, stake their claim, and try to challenge Bitmain’s dominance. Cannan filed for a $1 billion dollar IPO in May.

Even though Bitmain’s financial numbers tower over any other potential competition, some are starting to speculate their commanding lead might be slipping away, especially since the firm had to take a $253 million write-down for unsold inventory in the first part of the year.

Do you think companies like MicroBT can challenge some of Bitmain’s market dominance? Let us know in the comments below! 


Images courtesy of Shutterstock, Bitcoinist archives.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Kevin O’Brien

Kevin O’Brien

Follow

Full Profile

Related Posts

solana-analyse-tendance-leviers-techniques

Solana en route vers les 300 $ : analyse de la tendance des leviers techniques

2 days ago
Bitpanda

UK Listing? Not For Bitpanda—Liquidity Concerns Derail Plans

1 week ago
stablecoins

Yuan-Pegged Stablecoins On The Horizon As Beijing Rethinks Policy

2 weeks ago
Bitcoin

Strategy’s Bitcoin Gameplan Faces Dark Outlook As Expert Warns Of ‘Spiral Of Doom’

2 weeks ago
Coinbase

Coinbase Drops $3 Billion To Snag Deribit In Major Crypto Shake-Up

2 weeks ago
Thumzup

$50M Deal: Trump’s Thumzup Media Partners With Coinbase To Expand XRP Holdings

2 weeks ago
Please login to join discussion

Premium Sponsors

Press Releases

  • XRP is expected to break through $7. APT Miner helps...

    6 hours ago
  • miner

    Expectations of a Federal Reserve rate cut and demand for...

    10 hours ago
  • miner

    BlackRock suspends XRP listing, price faces resistance...

    10 hours ago
  • miner

    The September Curse Returns: How Crypto Investors Can...

    10 hours ago
  • Ethereum Price USD: The Latest Innovations of Crypto’s...

    12 hours ago

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

Buy Neo Pepe

Bitcoin

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

Altcoins

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

Categories

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

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 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
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • 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
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 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.