Fun

News Feed - 2023-10-10 01:10:15

Zhiyuan Sun7 hours agoBitcoin ASIC manufacturer Bitmain pauses employee salary payments: ReportThe firm cited difficulty in achieving “net positive cash flow” in making the decision.3048 Total views9 Total sharesListen to article 0:00NewsJoin us on social networksBitcoin application-specific integrated circuit (ASIC) manufacturer Bitmain has paused employee salary payments for September and beyond.


According to recent local news reports, citing multiple Bitmain employees familiar with the matter, the firm has allegedly cut all “bonuses and incentives” for its staff and still has not paid remuneration due since last month. In addition, employees face a 50% cut to their base salary. A message allegedly from Bitmain reads:“For the month of September, the company has yet to achieve a net positive cash flow, especially in the orders of [new] ASICs. The Executive Management Team therefore decided that salaries for the month of September will be paused, to be reviewed after October 7 after the holiday.”


Founded in Beijing, China in 2013, Bitmain is one of the world’s largest Bitcoin (BTC) mining ASIC manufacturers, with an estimated 70% market share during its peak. The firm’s Antminer ASIC series currently leads the industry in terms of hash rate computations for mining Bitcoin.


In August, Bitcoin miner Hive announced the purchase of 2,000 Bitmain S19 XP ASIC miners for immediate deployment in its rigs. The S19XP ASIC miners have a listed price of $4,653 on Bitmain. Hive said that after its integrations, the firm’s mining rigs will generate a combined $80 per megawatt hour in revenue, including both old and non-Bitmain models.


In 2021, Jihan Wu, co-founder of Bitmain, announced the settlement of a year-long ownership dispute with co-founder Micree Zhan. Under the agreement, Wu would resign as chairman and CEO of Bitmain and sell his ownership stake to Zhan for $600 million. At the time, Bitmain planned for an initial public offering at a $5-billion valuation by late2022. Such plans are believed to have been shelved due to the ongoing bear market.


Magazine: 3AC fugitives in disarray as OPNX faces new peril# Blockchain# Cryptocurrencies# Business# Bitcoin MiningAdd reactionAdd reactionRead moreHow to use index funds and ETFs for passive crypto incomeOKX exec says KYC will ‘raise the bar,’ bring real capital into crypto: Blockchain Economy Dubai 2023Michael Lewis" new book puts a positive spin on Sam Bankman-Fried

News Feed

Prosecutor Seeks Thousands of Years of Prison for Missing CEO of Turkish Crypto Exchange Thodex
Prosecutor Seeks Thousands of Years of Prison for Missing CEO of Turkish Crypto Exchange Thodex Members of the team of the now defunct Turkish crypto exchange Thodex may receive th
Biggest Movers: ATOM Hits 4-Month High, NEAR up 10% on Thursday
Biggest Movers: ATOM Hits 4-Month High, NEAR up 10% on Thursday Cosmos moved to a four-month high in today’s session, as crypto markets rebounded following Wednesday’
Metaverse Dualchain Network Architecture (DNA) Continues Global Expansion and Announces a Successful First Quarter in 2020
Metaverse Dualchain Network Architecture (DNA) Continues Global Expansion and Announces a Successful First Quarter in 2020April 27th, 2020, Toronto, Canada – The Metaverse DNA
US Senators Unveil New Crypto Bill — Experts Call It the ‘Most Direct Attack’ on Personal Freedom and Privacy of Crypto Users
US Senators Unveil New Crypto Bill — Experts Call It the "Most Direct Attack" on Personal Freedom and Privacy of Crypto Users Two U.S. senators, including Elizabeth Warren, have
Microstrategy Buys 29,646 More Bitcoins — Now Holds Over $1.6 Billion in BTC
Microstrategy Buys 29,646 More Bitcoins — Now Holds Over $1.6 Billion in BTC Nasdaq-listed Microstrategy has purchased 29,646 more bitcoins for $650 million. T
California DMV Is Putting Its Titles on the Blockchain
California DMV Is Putting Its Titles on the Blockchain The Department of Motor Vehicles (DMV) in California is running a project to digitize all of its titles and put them on a blo
The reasons Bitcoin price is down 11% since the halving
Helen Partz13 hours agoThe reasons Bitcoin price is down 11% since the halvingBitcoin’s current price action is “hardly a surprise,” given the extraordinary bullish action leading up to the fourth halving.27431 Tot
FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls
FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls The Financial Stability Board (FSB) says stablecoins hav
FTX Lawyers Attempt to Question Bankman-Fried’s Family and Inner Circle for Financial Insight
FTX Lawyers Attempt to Question Bankman-Fried’s Family and Inner Circle for Financial Insight According to court documents in the FTX bankruptcy case, the company’s attorne
Croatian E-bike Company Greyp Bikes Integrates Cryptocurrency Payments
Croatian E-bike Company Greyp Bikes Integrates Cryptocurrency Payments Greyp Bikes, a company founded by Croatian innovator and entrepreneur Mate Rimac, has integrated crypto payme
Derek Andersen5 hours agoSam Bankman-Fried sues insurance company for defense costs as trial opensSBF has directors and officers coverage through FTX Trading parent Paper Bird, but now that two companies have paid out $1
CoinDeal Token – a Wide Range of Earning Possibilities
CoinDeal Token – a Wide Range of Earning Possibilities Launched in the second quarter of 2019, CDL Token is a rapidly growing project, which has more and more to offer for its