No IPOs, Major Crypto Mining Tech Companies Focus on Product Innovation

2018-8-29 00:13

Falling demand for miners in the cryptocurrency industry has forced crypto mining hardware companies to become more creative. This is as hashrates reach new highs and digital currency prices maintain a bearish outlook, making mining less profitable for less efficient participants.

Going by recent reports, three of the biggest cryptocurrency mining hardware manufacturers, Bitmain, Canaan Creative and Zhejiang Ebang were planning on launching IPOs.

A successful listing would serve as a litmus test of investor confidence, and inject much-needed capital into the companies. They’ll need it to diversify their offerings.

Bitmain was allegedly aiming for a $3 billion funding through its IPO, with a market capitalization target of about $40 to $50 billion on the Hong Kong Stock Exchange. The company currently dominates the ASIC hardware market, with its market-share estimated to be between 70 and 80 percent.

In May, Canaan Creative, the second biggest bitcoin mining hardware maker in the world after Bitmain, was also rumored to be working on a $2 billion IPO. The company’s profits rose to 361 million yuan ($56.67 million) last year, but the skyrocketing costs of mining have pushed sales to new lows.

In Zhejiang Ebang’s case, the Chinese manufacturer filed an IPO application in June, which it has yet to finalize. According to a previous Reuters report, the company was looking to raise at least $1 billion through the IPO.

It is worth noting that none of the three companies have so far launched IPOs or formally confirmed them. This may be a wise move, considering that the market is still in a bearish mood. However, they are focusing more on product innovation, which seems to be the more logical option to maintain demand.

New Innovations in the Cryptocurrency Mining Sector

Bitmain has just announced a new flagship product dubbed the Antminer S9 Hydro. It boasts unique features, including a water-cooled system for higher energy savings, and lower noise levels.

The product is the latest of eight innovative releases that the company has introduced into the market this year and is built for the SHA256 algorithm. It can mine BTC and BCH, and comes at a time when miners are pursuing drastic cost-savings in order to make mining worthwhile.

Earlier this month, Bitmain rival, Canaan Creative launched what it referred to as the world’s first crypto mining TV called “AvalonMiner Inside.” It has a processing power of 2.8 trillion hashes per second, tiny in comparison to the company’s most powerful ASIC, which does 11 trillion hashes per second. 

The TV set features artificial intelligence and voice control capability. It can also make mining profitability calculations in real-time. The digital coins can be used to purchase products on Canaan’s platform. The company reportedly sold over 300,000 Avalon miners last year.

The post No IPOs, Major Crypto Mining Tech Companies Focus on Product Innovation appeared first on CoinCentral.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Speed Mining Service (SMS) на Currencies.ru

$ 1.9622 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $1.9622 - H: $1.9622
Капитализация $205.406k Rank 99999
Цена в час новости $ 12.95 (-84.85%)

mining companies crypto innovation product major focus

mining companies → Результатов: 82


Фото:

Multimine’s User-Friendly Platform Aims at Making Everyone to Start Mining Regardless of basic Knowledge

With so many competitive cloud mining companies currently in existence, crypto mining has proven to be one of the hottest businesses of the year. While there are so many genuine cloud mining companies offering appealing features for independent miners, have in mind that there are scammers who appear as real mining companies looking for opportunities […]

2020-8-28 20:21


Japan’s Forside Crypto Mining Expands, Fasteps Exchange Launch & Line Token Fund News

Japanese Companies Outline Cryptocurrency Plans Three public firms based in Japan have declared their plans regarding the trading of digital currencies. Notably, each of the three institutions (Forside, Farsteps and Line Corp) is either adding a new service to its portfolio or expanding its area of operation. The following is a detailed overview of the […]

2018-8-20 19:41


IT Industry Leader Innosilicon Announces Partnership With Cloudminter

Bitcoin Press Release: Innosilicon, designer of the industry leading cryptocurrency mining ASIC products, today announced that it has partnered with the Canadian cloud corporation Cloudminter. In this strategic alliance,  The two companies will collaborate in the to development of a groundbreaking 300 MW mining facility in Eastern Canada, set to start operations in Q4 2018.

2018-8-10 18:36


Coinlogix: Profitable Cryptocurrency Mining Solution Investor Plans?

Ever considered mining cryptocurrencies for a living? Having a hard time understanding what the procedures entail? As the blockchain industry gradually takes shape – with more and more companies relying on the technology to resolve current industry concerns – it comes of no surprise that many would want to contribute to its development. This is […]

2018-7-30 17:15


Is cloud mining dead or alive?

It’s common knowledge that over the past few years cryptocurrencies, and especially Bitcoin, have been enormously growing in value and popularity, with their functionality continually extending. Their growing attractiveness gave a serious impetus to the development of cryptocurrency mining which can be explained as a process of cryptographic calculations. Nearly all cloud mining companies went …

2018-8-1 16:23


China To Say Goodbye To ‘Illegal’ Bitcoin Miners by September

An autonomous region in China is set to hunt and close down all “illegal” mining operations before the end of August according to a report by a local news source. A senior official from Xinjiang’s Economic and Information Commission (EIC) confirmed that the agency has issued a notice to local utility companies in Xinjiang Uyghur […] The post China To Say Goodbye To ‘Illegal’ Bitcoin Miners by September appeared first on ZyCrypto.

2018-7-24 07:37


Фото:

By Semptember Chinese Region Will Close “Illegal” Bitcoin Miners

China’s Xinjiang Uyghur autonomous region is set to eliminate “illegal” bitcoin mining operations by the end of August, a government agency has confirmed to CoinDesk. “Local utility agencies and companies will be held accountable if they failed to shut down ‘illegal’ bitcoin mining operations,” the EIC writes. He said: “I have two partners (in the region):

2018-7-23 18:21


Фото:

Cloud Bitcoin Mining Company Hashflare Disables Hardware Mining Service

Hashflare, one of the largest bitcoin mining companies, said on Friday it is disabling its SHA-256 hardware and also discontinuing support for mining services on the active SHA-256 contracts. The move comes as Hashflare continues to struggle with generating revenues, the company said, putting the blame on market fluctuations. In an email to active customers,

2018-7-20 21:49


Фото:

China Round-Up: Bitmain, Canaan and Ebang Receive ‘Unicorn’ Valuations, Number of DLT Companies Explodes

In recent cryptocurrency news from China, three cryptocurrency mining hardware manufacturers have been valued at more than $1 billion USD, Bitmain has supported the launch of a research center for digital financial assets at Tsinghua University, and more than 3,000 companies were found to have registered blockchain-themed business names during the first half of 2018.

2018-7-19 00:30


Фото:

China Round-Up: Bitcoin ‘Unicorn’ Valuations, Number of DLT Companies Explodes

In recent cryptocurrency news from China, three cryptocurrency mining hardware manufacturers have been valued at more than $1 billion USD, Bitmain has supported the launch of a research center for digital financial assets at Tsinghua University, and more than 3,000 companies were found to have registered blockchain-themed business names during the first half of 2018.

2018-7-19 00:30


Фото:

Bitcoin mining companies have joined list of unicorns for the first time

Three bitcoin mining companies have joined a list of “unicorns” – private companies valued at over $1 billion – for the first time. The Shanghai-based Hurun Research Institute published its Q2 Unicorn Index for the Greater China region on Wednesday, which notably included the names of several major bitcoin mining firms: Bitmain, Canaan Creative and Ebang.

2018-7-18 15:35


Фото:

New York Approves New Electricity Rates for Crypto Miners

New York is seeking to foster growth in its cryptocurrency mining sector, with the New York State Public Service Commission (PSC) approving new electricity rates for Massena Electric Department. The new provisions will facilitate “high-density load customers, as such cryptocurrency companies” accessing “individual services agreement tariff[s],” including “protect[ion] […] from increased supply costs.

2018-7-14 03:30


Kutcho Copper Opens MineHub Metals & Mining Blockchain Supply Chain Technologies

Kutcho Copper Corp. has announced the launch of its MineHub Technologies Inc with a syndicate of industry partners including a senior mining company, one of the world’s largest streaming companies, an international base and precious metals and concentrates trading company that specializes in providing trading and financing solutions for miners and smelters and a global […]

2018-7-13 20:39


Фото:

Fully autonomous trains are better suited for moving ores than people

Australian mining company Rio Tinto’s high-tech train completed the first fully autonomous delivery of iron ore in Western Australia’s Pilbara. The autonomous train, consisting of three locomotives, carried about 28,000 tonnes of iron ore across 280 km from the company’s mining operations in Tom Price to the port of Cape Lambert on July 10.

2018-7-13 14:33


Фото:

Texas reform issues have been demolished and ordered to the Crypto Company Network

Regulation The Texas State Securities Board has taken an emergency action to stop a network of crypto-related companies from illegally offering investments in the state. Utah-based companies Mintage Mining LLC, Symatri LLC, NUI Social, Social Membership Network Holding LLC, and BC Holdings and Investments LLC are named in the emergency cease and desist order. In

2018-7-13 12:02