Bitmain May Earn Less Than Expected

Twitter users reports that Jihan Wu's team lowered the company's 2018 projected revenue from $ 8 billion to $ 3 billion
21 August 2018   960

A Twitter user BTCKING555 reported that his sources inside Bitmain, the largest manufacturer of mining equipment, say that Jihan Wu's team lowered the company's 2018 projected revenue from $ 8 billion to $ 3 billion.

BTCKING555 Twitter
BTCKING555 Twitter

At the same time he @'ed the strategic director of Blockstream Samson Mow and the famous crypto-enthusiast Whale Panda, who shared this information. It is noteworthy that Mow wrote that his sources confirm the statement of BTCKING555.

Samson Mow Twitter
Samson Mow Twitter

BTCKING555 also noted potential investors of Bitmain on the upcoming IPO - Sequoia Capital, IDG Capital and Temasek.

It was previously reported that losses in the second quarter of Bitmain could amount to $ 1 billion due to the large position of Bitcoin Cash and the Antminer S9 price drop.

Also, Japanese media corporation SoftBank denied information about its participation in financing Bitmain before the IPO.

Chinese Miners to Fall Victims of Ransomware

Looks like ransomware came together with "improved" firmware, that should "overclock" device
21 January 2019   79

In China, a ransomware spreads, victims of which are Bitcoin miners. The damage from its activities is measured in tens of thousands of dollars. This is reported by Trustnodes.

The virus infects miners, released by Bitmain, and requires you to send 10 bitcoins, otherwise threatening to cause overheating of the device.

The problem is solved by formatting the SD card of the infected device, however, as Trustnodes notes, the whole process can take up to four days, while malicious software rapidly spreads to the other miners.

Compromised device
Compromised device

Probably, the virus comes with an "improved" firmware for miners. Some owners install such firmware to “overclock” their ASIC devices and improve their performance.

The first messages about the virus refer to August last year. In particular, Antminer S9, T9 and even L3 + for Litecoin were attacked. Over time, the malware has been improved. Now its distributor himself can decide when to display a message requesting a ransom. One miner also said that one night the address to which the 4,000 devices belonging to him sent the mined cryptocurrency was changed to the address of the hacker, which brought him $ 8,000.