Crypto

The former CEO of Bitmain can start Bitcoin Mining with 100,000 ASIC devices soon!


According to the new information quoted by a local media source, a new mining enterprise in China could start operating and the mining business would start with mining of approximately 100,000 ASIC devices, as well as a good news for the Bitcoin network.

According to the source, the rainy season of China's Sichuan district, which is expected to start in May, can provide an incredible advantage in electricity and is the former CEO and co-founder of Bitmain, one of the world's largest mining giants Micree. Zhou in pursuit of exploitation of this situation.

Micree Zhou, said to be planning to make a quick entry into the Bitcoin network with the Fujian Chuangke mining plant, where Bitmain owns a certain stake, especially the bitter 2018 year of Bitmain

Bitmain, once the undisputed largest crypto-money mining giant of the time, has suffered a serious shake after the Bitcoin Cash hard fork events since November 2018 and the two founding partners – Jihan Wu and Micree Zhou – forced to offer the option to resign. The company dismissed 30% of all employees as well as the leading executives, closed the research section in Israel and sold some of its crypto money assets.

From the beginning of May, a bit of China-based increase to the Bitcoin mining network is planned. The existing hashrate of the Bitcoin network is estimated at 41EH / s, while China-based miners are estimated to constitute the majority of the network.