Bitmain, the Chinese manufacturer of mining hardware, continues to drive its international expansion. In addition to the planned IPO, they have now found a new home overseas. In the future, the market leader will operate from an office in Silicon Valley.
Silicon Valley becomes richer with an innovative crypto company. As the Silicon Valley Business Journal reports, Bitmain moves into an office in Downtown San Jose. At around 20,000 square feet (approximately 1,858 square meters), the mining giant will switch and manage the global FinTech hub from now on.
Bitmain: Still top dog in mining
The spread to the US could further consolidate Bitmain’s market power. The company is not only highly successful in miner sales, despite rising mining prices, but also operates two powerful mining pools, Antpool and BTC.com. Among other things, they are one of the block producers of the new EOS ecosystem through Antpool.
Bitmain’s international expansion also shows that despite the monopolistic position of the Antminer S9, it does not rest on its laurels. In addition there is no reason to grow in neighboring Japan with the GMO B2 a powerful competition. However, until GMO can challenge its big competitor in all its business areas, a lot still has to happen – apart from East Asia, North America is now one of the venues of the mining business.
image by shutterstock
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. The information does not constitute investment advice or an offer to invest.
MinerNews.io is is not responsible for the content of external sites and feeds.