Bitmain Under Pressure to Cut 50% of Staff in 2019

Bitmain Under Pressure to Cut 50% of Staff in 2019

Bitmain, the world’s largest maker of cryptocurrency mining chips is reported to be laying off up to 50 percent of its staff in 2019. Suggestions that layoffs may be a possibility in the new year first appeared on Maimai — China’s version of LinkedIn — before Christmas where one verified Bitmain employee wrote, “It’s affirmative. […]

BitcoinNews.com Daily Podcast 27th December 2018: Market Deep Dive, Mining Industry Contracting

BitcoinNews.com Daily Podcast, 4th October 2018

Listen to the 27 December 2018 BitcoinNews.com Daily Podcast below. [su_audio url = “https://anchor.fm/s/58aba88/podcast/play/1991885/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fproduction%2F2018-11-27%2F7601795-44100-2-c694299b5b25.mp3”] On this edition of the BitcoinNews.com Daily Podcast we do a market deep dive, and discuss how Bitcoin’s price is suppressed ahead of the CME Bitcoin futures contract expiration tomorrow. It is possible a rally will occur in January. We discuss how […]

German Stock Exchange, Börse Stuttgart to Start Crypto Exchange

German Stock Exchange, Börse Stuttgart to Start Crypto Exchange

Börse Stuttgart, the second largest German stock exchange has announced plans of launching a crypto exchange with initial support for Bitcoin, Ethereum, Ripple, and Litecoin. The stock exchange will be launching the platform through Bison App, which is developed by Sowa Labs — a subsidiary of the stock exchange. Tweeting the plans of a crypto […]

Bear Market Hits Hard at Mining Arm of GMO Internet Inc.

Bear Market Hits Hard at Mining Arm of GMO Internet Inc.

In a document released yesterday by Japan-based internet corporation GMO Internet Inc., the internet giant reported a financial loss of JPY 35.5 billion in Q4 2018 alone leading to the unsustainability of its cryptocurrency mining business. The company described the loss as an “extraordinary loss” during a meeting of its Board of Directors. It would seem […]