Bitmain News

Thousands of crypto miners have started to move out from various US ports of entry after months of delay.

Publicly traded mining companies in the US are now feeling the effects of trade tensions between the United States and China.

The cloud mining firm will be buying the latest Bitmain S-series miners, including the higher hashrate S21 XP and S21 Pro models.

It comes as US Bitcoin miners have had to deal with delayed deliveries of Bitmain ASICs that have been stuck at US ports of entry for weeks.

Crypto mining hardware typically has a lifespan between 3-5 years on average and must be periodically upgraded to maintain profitability.

To build a cryptocurrency mining rig, gather components like GPUs, motherboard, CPU, RAM, storage, and a power supply.

Chinese chip manufacturer Xiamen Sophgo denied having any business relationship with Huawei after being cut off by Taiwan Semiconductor Manufacturing Company. 

BitFuFu is no longer exclusively a cloud miner as it transitions to a more resilient portfolio. 

While both Hut 8 and Irish Energy expanded operations, they reported contrasting results in Bitcoin production efficiency.

BitFuFu expands its mining capacity by over 60% despite a dramatic rise in Bitcoin mining costs post-halving.

Following the investment, Tether expects close collaboration with Bitdeer across several key infrastructure areas, CEO Paolo Ardoino said.

These once-unprofitable Bitcoin miners may have contributed to Bitcoin’s 14.7% increase in hash rate since the start of 2024.

Benchmark analyst Mark Palmer initiated coverage of Bitdeer on Thursday, giving the miner a buy rating and setting a price target of $13.

Bitdeer said Jihan Wu would be moving from chair of the company’s board of directors to CEO starting on March 1, replacing Linghui Kong.

The new crypto mining equipment to be bought by Cipher is expected to deliver 7.1 EH/s of self-mining capacity by the first half of 2025.