Bitcoin Mining Giant, Bitmain, To Expand Its Business to Sou...
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Bitcoin Mining Giant, Bitmain, To Expand Its Business to South America

Bitmain, a bitcoin mining giant, just announced its partnership with two bitcoin mining consulting firms, Bit5ive and Fastblock. Bitmain is planning to use both firms as official distributors of its flagship Antminer Bitcoin mining hardware in South America.

The mining giant says it’s hoping to make use of the extensive contacts both startups have in the region. Bitmain also claims it chose both startups because of their expertise in logistics, consultancy, and customer services. 

According to a Bitmain executive, Irene Gao, South America continues to be an important region for the crypto mining industry. As such, the company’s partnership with these two consultancies will help Bitmain to build on the relationship it has with the mining community. She said the partnership will instill trust in the sales process of Antminers.

In November, co-founder of Bitmain, Jihan Wu, announced the launch of new additions to the Antminer 17 series. In the announcement, Wu said the new miners included harsh rate and power efficiency-enhancing features. Wu announced this during this year’s World Digital Mining Summit.

After going through difficult times from 2018 through to 2019, Bitmain has lost significant portion of its Bitcoin mining dominance.

In a departure from its operational downsizing of late 2018, Bitmain is planning to expand its business. It unveiled a 33,000acre bitcoin mining facility in Texas. The company is also planning to increase its harsh rate capabilities by up to 50%, with 600,000 new mining chips.

Featured Image Courtesy of Shutterstock

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Born in Bucharest, Marius is the founder of Crypto Adventure and Co-founder of Crypto Press. Since his first contact with Bitcoin and cryptocurrencies, he never stopped believing that they are one of the most important innovations of our time, which will forever change the way business is done.

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