Crypto Short News

Cryptocurrency Mining Giant Bitmain Buying 600K More Crypto Miners

Bitmain Technologies, one of the Cryptocurrency mining giant announced that it has placed a new order to buy 600,000 mining machines. As per the reports, part of the machines includes the latest 7nm model, with a hashrate of 50TH/s. Based on the hashrate, Bitmain’s total hash power is expected to jump by about 50% after six months.

The new mining machines are expected to bring $1.2 billion profits to the platform, also market valuation of about $12 billion. The mining giant is also planning for initial public offering (IPO), aiming to raise $300-$500 million.

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Oliver A

Oliver is a content marketer who is actively engaging with latest trends in the financial market. He is a writer by day ad a reader by night. Contact me at oliverzack87@gmail.com

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