Cryptocurrency

Bitcoin-Mining: Mining giant Bitmain begins Expansion into South America

Bitmain is seeking in South America a significant presence and works with two Bitcoin-Mining-consulting firm. Meanwhile, consolidates co-founder Jihan Wu, his influence on the company in a sustained combat power.

Bitmain cooperates with consulting company for BTC Mining

In a Thursday press release published Bitmain announced its partnership with Bit5ive and almost block. Both companies are crypto-Mining consultant, Bitmain wants to use her as the official distribution partner for its Bitcoin-Mining-Hardware-flagship Antminer in South America.
Bitmain is hoped that the extensive contacts of both companies in the Region. The Bitcoin-Mining-giant says, he had selected both companies for their Expertise in logistics, customer service and advice.
Bitmain-managing Director Irene Gao commented on the new partnerships and the Expansion step on the South American market as follows:

“South America is an important Region for the field of crypto-currency Mining. Our cooperation with almost a block and Bit5ive will help us, our relationship with the Mining Community expand and to create trust in the sales process of Antminers.“

At the end of November, Wu announced the market introduction of new products, the Antminer 17 series. The Bitmain co-founder promised that the new Miner Hash Rate and energy efficiency would include enhancing features.

Jihan Wu regains control

In the meantime, Wu is continuing to consolidate his control over the company. According to reports, the co-founder has held a private Meeting with Bitmain executives.
This train is the latest salvo in the struggle between Wu and the extruded co-founder Micree Zhan. Zhan is trying to take legal action against Wu, to initiate and accused some of the Bitmain employees of treason.
After a difficult year in 2018 and a weak Start in 2019 Bitmain has lost a significant part of its dominance in the Bitcoin Mining Business. The company intends, however, in the US, an IPO with its competitors in Canaan to initiate the leads is already a similar public sale.
In a departure from the operative reduction by the end of 2018 Bitmain has started with the implementation of expansion plans and a 33,000 acres of large Bitcoin Mining operation in Texas opened. The company also plans to increase to 600,000 additional crypto-Mining Chips of its Hash-Rate capabilities of up to 50%.

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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.