Bitmain, the world’s main producer of Bitcoin mining machines, has surprisingly introduced that it has suspended a few of its workers’ September salaries as a result of a scarcity of constructive money move.
A number of inner sources have confirmed that the assertion in query, printed on October 3, is correct.
This information comes shortly after Bitmain’s convention in Hong Kong, the place it unveiled its newest product, the S21 Bitcoin mining system. This launch was extremely anticipated inside the crypto neighborhood, as Bitmain continues to play a key function within the quickly evolving crypto mining business.
The cryptocurrency mining business is at the moment scuffling with traditionally low hash costs. Hash value expresses the anticipated income per petahash per second of hash capability of a miner. This downturn is placing nice stress on miners all over the world, forcing them to rethink their methods and adapt to the altering setting.
As Bitcoin provide dwindles, miners face two key challenges: sourcing vitality extra sustainably and utilizing extra environment friendly mining machines.
It was thought that Bitmain’s newly launched Antminer S21 gadgets may very well be helpful to miners on this regard. It isn’t but recognized how the monetary disaster that allegedly began within the firm will have an effect on system manufacturing.
*This isn’t funding recommendation.