The US 8 8 Billion Company Bitmain.
Bitmain is not an unknown name in this genre,
formerly a bitcoin's"virtual slice".
China's crypto mining giant, Bitmain, is one step closer to establishing
mining facilities in Washington state.
A KPMG audit of the business reported that Bitmain produced $1.2 billion in net profit
with a 50% net margin in 2017.
He argued that he interpreted the blog post to mean that Bitmain will mine a private blockchain that would
be governed by the company.
Cobra believes that the stability of the Bitcoin network depends solely on Bitmain as a whole, and even on"one person"- probably Jihana Wu.
Bitmain will use some of its own hash rate
and work with the developer community to have a contingency plan based on[the user-activated hard fork].
It looks like Bitmain is preparing hard fork to some kind
of privately mined blockchain which[means] we cannot offer mining on such[a] chain for our customers.
Called‘The Eye of God', the work was created by local artist Xania Dorfman and bought by Yoshi Goto,
a mining expert employed by bitcoin ASIC developer Bitmain.
The Port of Walla Walla- Walla Walla county's economic development
agency- unanimously approved a land lease and purchase option that would allow Bitmain to build its new crypto mining facility.
Bitmain has yet to publicly acknowledge the company as a subsidiary,
but publicly available company registration information lists Bitmain CEO Jihan Wu as Ant Creek's sole governing person,
as previously reported.
Further, despite Bitmain arguing that a reorganization is a reason to split off into another chain,
others have claimed that safety is the key reason they will upgrade to BIP 148.
It's good that Bitmain released this‘plan' though,
because it shows everyone that what they really want is complete control over bitcoin,” Blockstream CSO Samson Mow said, putting the same idea in a different way.
China is home to two
of the world's largest cryptocurrency mining operations- Bitmain and Canaan Creative- and
its possible the government didn't want to miss out on tax revenue from what are two large, billion-dollar corporations.
As reported by CCN, Bitmain, the world's dominant mining hardware manufacturer,“Is
said to have made as much as $4 billion in operating profit in 2017, and Canaan- its largest competitor- is preparing to hold an initial public offering(IPO) that it believes will provide it with a $1 billion valuation.”.