Bitmain Backs Circle’s Stable Cryptocurrency With a $110 Million Funding Round

Bitmain, a multi-billion dollar cryptocurrency mining equipment manufacturer based in China, has led a $110 million Series E funding round for Circle, a blockchain-focused financial company, in support of Circle’s short-term plan of launching a stable cryptocurrency that is in line with Bitmain’s vision of establishing private central banks backed by cryptocurrencies. Stable Cryptocurrency Previously,

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Bitcoin Mining Giant Bitmain Is Making a Major Pivot to AI

Bitmain is the world’s undisputed leader in cryptocurrency mining hardware manufacturing. Now, it wants to fill a similar role in the artificial intelligence (AI) field as well. Speaking in a rare interview, enigmatic Bitmain CEO Jihan Wu told Bloomberg that the company is channeling its expertise in developing application-specific integrated circuit (ASIC) chips toward a

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Declining GPU Sales to Cryptocurrency Miners ‘Healthy’: AMD CEO

GPU manufacturers Nvidia and AMD each enjoyed massive sales over the past year, partially thanks to miners who buy GPUs to mine cryptocurrencies. However, those sales are now declining. The demand for GPUs kept increasing as the value of cryptocurrencies went up throughout 2017. But after the market cap reached an all-time high of $830

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Bitmain Leads $3 Billion Crypto Exchange Circle’s $110 Million Series E Round

Goldman Sachs-backed cryptocurrency exchange Circle now has a new investor to its name, the Chinese crypto mining giant Bitmain. A new investment round led by Bitmain values the exchange at $3 Billion and also includes other notable names like Accel and Blockchain Capital. Along with the new funding round, Circle also announced their plans for

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Secret ASICs, Hidden Farms, and Manufacturers Playing Dirty: the New State of Cryptocurrecy Mining

Proof of Work cryptocurrencies like bitcoin are facing struggles with the wave of ASIC mining hardware. Nakamoto envisioned a decentralized cryptocurrency mining consensus spread across a large pool. But of late it’s turned into a environment where two or three major players reap a large portion of mining profits. As a result, developers and communities are

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Nvidia Made $289 Million from Cryptocurrency Mining in Q1

Nvidia, the world’s largest GPU Manufacturer, posted their earnings call for the first quarter and reported revenue of $3.21 Billion, which was more than the estimates of $2.89 Billion.  According to the report, the company made $289 Million — 9% of their total revenue — from sales to cryptocurrency miners. Nvidia expected to make $200

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Bitmain’s Biggest Bitcoin Mining Rival Plots $1 Billion Hong Kong IPO

Canaan Creative, China’s second-largest bitcoin mining hardware manufacturer, plans to raise $1 billion through an initial public offering (IPO) on the Hong Kong Stock Exchange (SEHK). The South China Morning Post reported on Wednesday that the Hangzhou-based firm will be the first blockchain startup to list on the SEHK, though sources also say that a

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Zcash Foundation to Make ASIC Resistance ‘Immediate Technical Priority’

The Zcash Foundation has announced that it will make maintaining ASIC resistance an “immediate technical priority” in response to Chinese mining hardware manufacturer Bitmain’s claim that is has developed an application-specific integrated circuit (ASIC) miner that is compatible with the Equihash mining algorithm. In a statement penned by executive director Josh Cincinnati, the Zcash Foundation

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Crypto Hardware Giant Bitmain to Release First Zcash ASIC Miner

Equihash, the Proof-of-Work (PoW) mining algorithm used by Zcash and a variety of other cryptocurrencies, is about to get a lot less equitable. On Wednesday, mining hardware manufacturer Bitmain revealed that it had developed the first Application Specific Integrated Circuit (ASIC) miner capable of mining on Equihash-secured networks. Bitmain’s Zcash ASIC miner — the Antminer

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Riot Blockchain Trades All Mined Bitcoin Cash into Bitcoin

Biotech-company-turned-cryptocurrency-investment-firm Riot Blockchain is not long on Bitcoin Cash. That’s one of several revelations from a recent public filing that provides an overview of the Colorado-based company’s 2017 financial results. The Nasdaq-listed firm, which reports that it had 3,500 Bitmain S9 miners deployed at a data center in Oklahoma City at the end of March

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