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Chinese bitcoin mining equipment makers are hungry for capital to fund their growth as the heightened interest in cryptocurrencies has led to a surge in demand for their machines.

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Joy Global of the U.S. said it will acquire 41% of International Mining Machinery Holdings for $585 million and plans to obtain the remaining shares of the Chinese mining-equipment maker through a ...

China supplies around 70% of the world's iron ore demand and 40% of its copper demand. In fact, according to a 2016 report by PricewaterhouseCoopers, Chinese mining companies accounted for 12 of ...

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As the international mining industry has hit increasingly hard times, domestic heavy-duty equipment manufacturers have worked harder to explore fresh opportunities in the global market.

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Bitmain’s $3 billion initial public offering (IPO), as well as that of other Chinese bitcoin mining equipment manufacturers such as Canaan and Ebang, may be adversely affected by the June categorization of the firm’s Antminer S9 ASICs miners as “electrical machinery apparatus.” The move by ...

A major coal-mining company that has pushed the Trump administration for a bailout of the industry quietly signed a deal last fall with a Chinese manufacturer to produce mining equipment and did ...

Chinese crypto outlet 8BTC reported earlier this week that crypto mining operations are selling off mining equipment by weight rather than by unit amidst widespread market decline. The report specifically cited a Weibo post by the founder of crypto mining pool F2Pool.

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1 day ago· Chinese crypto outlet 8BTC reported earlier this week that crypto mining operations are selling off mining equipment by weight rather than by unit amidst widespread market decline. The report specifically cited a Weibo post by the founder of crypto mining …

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Excluding Glencore, “everything has become Chinese,” Richard Muyej, the governor of Lualaba province where most of Congo’s copper and cobalt is situated, said at a mining conference on June 15.

This post was originally published on this site. Chinese crypto mining ventures are selling off all of their old equipment by the weight rather than by the unit.

Mining Equipment Market Overview: Global Mining Equipment Market is expected to garner $155.9 billion by 2022, registering a CAGR of 7.9% during the forecast period 2016 - 2022. Mining is an extraction process of obtaining coal, minerals, metals and other such materials from the earth.

Chinese Firms Selling Crypto Mining Equipment by Weight The bell may not yet be tolling for , but it seems to be doing so for many of the ventures focused on mining it. Chinese companies, in particular, have resorted to selling off their older ASICs in any way they can. Citing a Chinese media report, […]

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