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.
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.
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.
Therefore, within a few months, observers believe that Bitmain’s…
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Author: Julio Gil-Pulgar