Topic: "Bitmain shop is under maintenance." - Bitmain bankrupt or possible return? (Read 247 times)

Bitmain used to have hash nest. They spun them off and created bitdeer. They certainly can spin bitdeer off and start a third cloud next year or whenever they need to.

Ok probably the correct word is not "owns" but rather "controls", legally and on papers, it may seem like Bitdeer operates independently, just like how Viabtc pool seems to operate, but neither Bitdeer nor Viabtc can survive without bitmain, in reality, whoever the CEO is meant nothing as far as real ownership, whoever invests the most money has the final say. if Bitmain was to stop directing hashpower towards Bitdeer, it means they are gone, and it's really only a matter of starting a new company and a fresh website under a different name to sell the same thing again, so Bimtian doesn't need Bitdeer it's the opposite.

Now can Bitmain survive without selling gears? probably not, the money you see going to this cloud mining contracts isn't all profit, I could run the numbers but without having to do so I know selling mining gears is most likely much more profitable than selling these mining contracts, don't get me wrong, they are a great hedge against bitcoin price as well as a good source of funding for Bitmain, but they won't be enough to keep the business going the way it used to be, also their competitors aren't way too far, if Bitmain doesn't make an S21 by year-end, MicroBT will probably overtake the S19 pro by then.

With that being said I do agree with you, I doubt that they will go bankrupt, although I won't be sad to see that happen to them.

I've heard that before but all their PR says they only partnered with them on cross marketing campaigns and that Celine Lu is founder and CEO. Whatever the relationship, they seem to have first dibs on any new gear. If what you say is true, I don't see how they'll go bankrupt if almost all their plans are sold out. If they own BitDeer, they could survive on that alone, never sell gear publicly again, and completely control the industry until others create more efficient gear.

Shop is also loading normally again with everything sold out.

Looks like Bitmain site is up and going as usual.

All gear still seems to be sold, no new gear announced;

HOWEVER, parts seem to be up for sale now, which is new for them (they were sold out not long ago too).

Seems like there was no need for opening this topic.

Mods, feel free to lock it.

Bitmain owns BitDeer. 



What is going to happen here is s flood of Bitmain coupons, and given the supply and demand especially after this incident - the actual value of these coupons will be too low like they were back in 2018 where you could buy them for 10% of their face value, so try to avoid this option as much as you can.

Wonder what their current relationship is with BitDeer. All the Z15 plans have been sold out. I'm not sure why I'm even getting the emails because I ordered a Z15 August batch and they're related to June/July batches. There are a few people who have received and reviewed July batch already so maybe no delays on Z15. BitDeer also has S19 plans available still so they are getting the gear to large farms, but delaying for others.

Z11 haven't been on sale since last year if my memory serves me. They could be using Z15 to mine, but I doubt really.

It may largely depend on what customers choose to do with orders that are pending shipping. I posted the email I received this morning in another thread. 3-4 month delay on June and July batches and not shipping until Sept/Oct. They are giving two options only to choose from:
1) Coupons after 10 days late
2) Full refund after 60 days late

Who knows how much money is tied up in pending shipments, but if majority request a refund it could be bad for them. Alternatively, they could also be mining with their own gear to help cover losses as Z11 and Z15 are both very profitable and limited in quantities compared to other miners.

Looks like the Fight between the co-founders is taking a toll on Bitmain - Bitmain Delays Bitcoin Miner Shipments by Three Months as Co-Founders Battle On

They made an announcement today on their official wechat but it's in Chinese. So I am thinking since they are not shipping out orders anytime soon, they just decided to put the shopping part on hold to avoid inconveniences to the customers who may not be aware on what going on

Announcement on wechat, translated from Google translated from the Chinese version. It's not perfect but you can get the message

Bitmain shop on both English and Chinese website has been "under maintenance" for couple of hours now.

There is no miners on page nor any accessories (like control boards/cables/psus/etc).

It's been few months since Bitmain last sold anything afaik and this can mean two (maybe three) thing:

1. They are coming back hard to crush the competition again and sell gear with better prices than anyone.

2. They are going bankrupt and are soon to close websites.

2a. They are doing this to avoid looking bad with no units for sale for months and will now open new website/company which will become NEW Bitmain.

Pictures:
English website


Chinese website