Embattled giant has allegedly hinted the release of its new hardware could hinge on the 2020 () block reward halving. The was reported by English-language Asia outlet (SCMP) on March 27.
Bitmain, which has seen a testing six months as market volatility triggered and a , reportedly said next year’s event could reverse its fortunes. SCMP cited a “a company source with knowledge of the plan.”
Block reward halvings reduce the amount of awarded to miners who successfully solve the algorithms to validate blocks of transactions.
In May 2020, the reward size will decrease from to 6.25 per block. In line with previous events, sources anticipate prices will increase in advance — possibly beginning around June this year.
“Bitmain is now betting that its next flagship product scheduled to be released by the end of this year will turn out to be a winner in the gear market, capturing an expected rally,” SCMP wrote, citing the unnamed source close to Bitmain as saying.
Despite its problems, Bitmain to release new products, with the T17 and S17, both of which will utilize its latest 7nm chip technology, currently the focus of attention.
Earlier this month, the company the Z11, a dedicated ASIC miner for .
This week, meanwhile, executives claimed its lapsed filing had in fact help deliver more transparency to its public profile.
“We will restart the listing application work at an appropriate time in the future,” a statement from the firm , as the threat of a from disgruntled investors also emerged.
Published at Sat, 30 Mar 2019 10:18:51 +0000
