Bitmain’s hashrate will increase by more than 50 percent with the newest addition of 600,000 mining chips as per the reports in the coming altcoin news that we have today.
As the optimism in the country is renewing and growing, Bitmain’s hashrate is also growing due to the investments in the crypto mining industry. Now, Bitmain is buying more than 600,000 new crypto mining chips and as a result of the new investment, the company expects to make up to $1 billion in profits. The battle to produce new and better cryptocurrency mining gear is heating up. In this direction, the Chinese Bitcoin mining giant Bitmain Technologies LTC is placing orders for a lot of machines with high hash rate capacity. According to the Chinese news outlet ‘’Recently a supply chain person close to TSMC broke the news. The source noted that Bitmain has recently placed new orders for more than 600,000 mining chips.
As reported previously, the Taiwan Semiconductor Manufacturing Company is Bitmain’s chip supplying contractor and this company ranks among the highest and profitable chipmakers in the world. Moreover, according to the same source, some of these chips include the new model of 7nm model with a single power of 50 Tera hashes per second. Therefore, in just a few months, the observers believe that Bitmain’s total network computing power could increase by more than 50 percent.
Despite the loss in the first quarter in 2019, which reached about $625 million, Bitmain remains very optimistic about the strengthening of the mining industry and in effect with this new investment, the company will expectedly hit about $12 billion. Last year, Bitmain announced the new generation of the 7nm ASIC chips which aimed to improve the performance and energy efficiency. The chips were designed to mine cryptocurrency using the SHA256 algorithm for proof-of-work purposes as noted in the reports of the best cryptocurrency news sites. The antminer models came with enhanced hash rate capacity and in 2018 in April, the chipmaker announced the specifications for the latest 7nm Antminer 17 series. For example, the Antimner 17 pro will come in two variants and in addition, Bitmain is working with a specialist to prepare for the US share sale that could happen in the second half of 2019.
The German Government Establishes A Sound Blockchain Strategy
“The young and innovative blockchain ecosystem in Germany should be preserved and continue to grow. Germany should be an attractive location for the development of blockchain applications and investments in their scaling. At the same time, large companies, small and medium-sized enterprises and startups, as well as the public sector, countries, civil society organizations, and citizens should be enabled to make informed decisions about the use of technology.”In order to achieve its newly outlined blockchain goals, the German government said that one effort that it wants to undertake is devising an “investment and growth-oriented regulatory framework” geared to the domestic crypto economy. This way, the markets could “work without state intervention and the principle of sustainability is guaranteed.” Furthermore, the ministries noted that they were going to take a multi-pronged approach towards becoming a blockchain hub. As many best cryptocurrency news sites noted, Germany is looking to promote entrepreneurs, encourage investments, guarantee stability, enable fair competition, support stakeholders and foster international cooperation in the attempt to bring blockchain to the masses. All of these goals were created through consultations with officials of the German government - and more than 150 crypto economy stakeholders over the past few months. The task at hand is now putting everything into action.
“At the European and international level, the Federal Government will work to ensure that stablecoins do not become an alternative to state currencies,” the strategy document read.The grand question for now is whether other smaller European countries will follow Germany's (and France's) lead in taking a strict stance towards blockchain innovation.
CJ Korea Develops A Blockchain-Based Music Copyright System
“It is very important to have a system that guarantees fairness and transparency among copyright stakeholders,” said Kim Eung-do, the director of the DT Convergence Research Institute at CJ OliveNetworks in a report which was published in the business outlet Hankyung.As he also noted, “the blockchain-based copyright management system will greatly contribute to improving the copyright management process.” Meanwhile, CJ Korea is South Korea's 14 largest conglomerate and has 31 trillion won ($25.9 billion) in assets as the latest Fair Trade Commission data report shows. The business lines include everything from food and beverage to logistics, beauty stores, IT, entertainment and a cinema chain. On the other hand, the latest cryptocurrency news show that CJ OliveNetworks operates OliveYoung, who is one of the country's K-beauty leaders. He has an IT division doing everything from Internet of Things (IoT) to cloud computing to Big Data. However, a decision was announced in April to split the two and transfer the IT division to CJ Korea Corp. Meanwhile, Amazon Web Services (AWS) became available in Korea in 2016. 2019 was the year when it started offering the Managed Blockchain to the public, following the introduction of the service back in 2018. So far, AT&T, Nestle and Accenture are among the respected clients of the service.
Huge Mining Confidence Indicates A Strong Boost For Bitcoin
New Trojan Virus Launched That Steals Passwords From Crypto Wallets
Join us on Facebook
- The German Government Establishes A Sound Blockchain Strategy
- BitMEX CEO Arthur Hayes: ‘Traditional Traders Are Under Pressure’
- McAfee Believes Bakkt Launch Could Jumpstart Widespread Adoption
- Upbit Exchange Delists Privacy Coins Including Monero, Dash and Others
- CME Group Will Launch Bitcoin Options Early In 2020
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News4 days ago
Tether’s Burning Of 400M USDT Could Crash The Bitcoin Price
Bitcoin News5 days ago
Bitcoin Price Analysts: A Strong Bull Run Is Imminent
Altcoin News2 days ago
Wells Fargo Tokenizes Cash But Avoids Calling It A Cryptocurrency
Altcoin News3 days ago
Ripple And Coinbase Relations Rumor Will Fuel XRP By 20%
Bitcoin News5 days ago
Low Bitcoin Volatility Could Power A Strong Price Movement
Bitcoin News4 days ago
Current Bitcoin Is Stronger Than Ever, But No One Cares: Google Trends
Bitcoin News4 days ago
Deloitte Starts Testing Bitcoin Payments For Its Staff
Bitcoin News2 days ago
CME BTC Futures Volumes Hits 4-Month Low: Analysis