Bitmain to deploy $80M worth of Bitcoin miners

posted 5 months ago
Bitmain is planning to deploy 200,000 units of mining equipment in China to take advantage of cheap hydroelectric power this summer.

The equipment is conservatively estimated to cost $80 million, and it's most likely that it's more profitable right now for Bitmain to mine crypto itself than try to sell all this inventory. The move may signal a broader shift in the market, with miners preparing to invest again following last year’s contraction in capacity.
Tags: bitcoin, blockchain, news