Market indicators and data records from industry insiders reflect that several mining firms are acquiring new mining rigs in order to increase their revenue. As the third bitcoin Halving kicks in, revenue for miners fell significantly, a reward that miners receive for adding new transactions to the blockchain split in half.
As reported earlier, Core Scientific, a US-based blockchain firm, is planning to acquire the newest mining rigs from Bitmain. According to Core Scientific’s claims, it will conduct a massive acquisition of S19 machines. More than 17,000 S19 Antminers will be purchased from Bitmain on behalf of Core Scientific’s users and for the firm’s personal usage.
Bitmain, the leading mining hardware firm, has observed a surge in the demand for Antminer. However, the firm has officially passed the statement on Aug. 6, Antminer orders for June and July 2020 will be postponed by more than two months due to “external interference on company operation.”
Critical Time for BITMAIN Sales
Although Bitmain is justifying the delays by stating “external interference,” industry inside reports disclose that the firm internal matters are mainly causing the delay.
Dovey Wan, the founding partner of Primitive Ventures, tweeted that ongoing warfare between Micree Ketuan Zhan, Bitmain former co-founders, and Jihan Wu, current Bitmain CEO, triggered the delay of product orders.
The conflict started in late 2019 and received a major event in July when Zhan officially blamed Jihan Wu for stealing a massive number of Antminers. Micree Ketuan Zhan stated in a Weibo post that the firm’s 10,000 owned mining rigs had been shifted “illegally” by Wu in Mongolia.
In response to allegations Wan tweeted:
“Bitmain Drama hampers its normal business finally […] Bitmain pre-sales team just post an announcement today saying “due to external interference on company operation ..” their June/July orders have to postpone to Sep/Oct the earliest […] Imagine you are Bitmain pre-IPO investor now.”