Chinese mining giant Bitmain reports $500 Million loss

Mining hardware giant Bitmain lost about $500 million in the third quarter of 2018 due to the current bear market according to reports, potentially putting its planned IPO in jeopardy. The Beijing-based company recently provided an update on its financial results to the Hong Kong Stock Exchange (HKEx), which is reviewing Bitmain’s application for an initial […]

Miners flock back to Bitcoin as its hashrate hits three-month high – Bitcoin price recovery may be imminent

After hitting a low of  32 million TH/s, Bitcoin’s hashrate has seen a marked recovery in recent weeks indicating miners are showing renewed confidence in a Bitcoin price recovery. CNR reported as recently as December 2018 that Bitcoin’s hashrate was dropping fast as the profitability of mining was so low that miners were being forced […]