Bitmain, the world’s main producer of Bitcoin mining machines, has surprisingly introduced that it has suspended a few of its workers’ September salaries because of an absence of optimistic money movement.
A number of inside 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 throughout the crypto group, as Bitmain continues to play a key function within the quickly evolving crypto mining business.
The cryptocurrency mining business is at present battling 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 strain on miners world wide, forcing them to rethink their methods and adapt to the altering atmosphere.
As Bitcoin provide dwindles, miners face two key challenges: sourcing power extra sustainably and utilizing extra environment friendly mining machines.
It was thought that Bitmain’s newly launched Antminer S21 gadgets could possibly be helpful to miners on this regard. It’s not but identified how the monetary disaster that allegedly began within the firm will have an effect on system manufacturing.
*This isn’t funding recommendation.
