Sources report that Bitmain valuation is set to jump as a large order comes in

Rajan Dhall, MSTA FX Daily

The nearly listed Chinese mining giant will increase its manufacture capacity by 50% within the next six months, a source affirms. According to the inside sources, the company is set to buy 600,000 mining chips from a Taiwanese manufacturer.

This could be interesting news as the price of Bitcoin has risen it seems that Bitmain are back! Apparently, the chips will be 7nm with the hash rate of 50 tera hashes per second.

It's about time the company got some good news after a tough 2018. The company was nearly listed but failed at the final hurdle. They also lost a massive share of the business as rivals like Canaan Creative stole their thunder. It has been said the company even had to shut down some of its operations and the debt spiralled to a reported USD 625 million.

This year has seen the companies fortunes turn as the Bitcoin price rise meant it became profitable to kick start operations and even expand.

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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