Topic: Bitmain Cuts Back its Texas Crypto Mining Project (Read 228 times)
Only in the crypto world do people actually forget that you need to pay your expenses in fiat.
Yup, it's amazing AT ANY OPERATION SIZE that people still think it will never end and then are totally unprepared when it hits.
Its really crazy how the $6000 yearly support breaking is leading to all these lay-offs, bankrupties and cancelled projects. I am really surprised that Bitmain actually is running out of cash when its been in the mining industry since late 2013. They should of had some capital in case Bitcoin takes a large hit in the near term.
I blame bad management and I don't understand why they held so much Bitcoin Cash. That and the entire debate with the Segwit 2X that they caused back in 2017.
Hopefully we see some recovery in the next few months and hopefully these projects are actually re-started when BTC regains above $6000.
I blame bad management and I don't understand why they held so much Bitcoin Cash. That and the entire debate with the Segwit 2X that they caused back in 2017.
Hopefully we see some recovery in the next few months and hopefully these projects are actually re-started when BTC regains above $6000.
Bitmain and jihan made few costly mistakes by going in to fights/wars.
We all knew bitmain is/was biggest in terms of producing mining gear. But this exact reason make bitmain so fragile. Small mining operations focus more on costs and how to scale steady but forward. While bitmain expansion created massive gap between what they made and what they spend.
suppliers didnt received money on time when btc was at the peack and now when it dropped, jihan simply failed because of greed.
Its really crazy how the $6000 yearly support breaking is leading to all these lay-offs, bankrupties and cancelled projects. I am really surprised that Bitmain actually is running out of cash when its been in the mining industry since late 2013. They should of had some capital in case Bitcoin takes a large hit in the near term.
I blame bad management and I don't understand why they held so much Bitcoin Cash. That and the entire debate with the Segwit 2X that they caused back in 2017.
Hopefully we see some recovery in the next few months and hopefully these projects are actually re-started when BTC regains above $6000.
I blame bad management and I don't understand why they held so much Bitcoin Cash. That and the entire debate with the Segwit 2X that they caused back in 2017.
Hopefully we see some recovery in the next few months and hopefully these projects are actually re-started when BTC regains above $6000.
Lol, nice article.
Crazy to do in Texas, its stupid hot in the summer.
Crazy to do in Texas, its stupid hot in the summer.
Last year Bitmain announced its intention to build one of the largest crypto mining centers in the world. But the smiles have been wiped off their faces as the project scheduled to hold in Rockdale TX has hit an unfortunate roadblock.
https://all-stocks.net/report-bitmain-cuts-back-its-texas-crypto-mining-project/
https://all-stocks.net/report-bitmain-cuts-back-its-texas-crypto-mining-project/
Jump to: