Bitmain to Open Office in Silicon Valley

Representatives of Bitmain emphasize that the office in the Silicon Valley will help the company's venture capital investments
18 July 2018   1009

Bitmain, the leading manufacturer of bitcoin mining equipment, opened an office in San Jose. This is reported by CCN.

According to the publication, Bitmain took the last empty premises in the office building Riverpark Tower, which also houses start-ups Okta, Cohesity and WeWork.

The area of ​​the new office is 1850 sq.m.

Representatives of Bitmain emphasize that the office in the Silicon Valley will help the company's venture capital investments. In addition, this is part of the plan to expand business in North America. In connection with China's unsustainable policy regarding cryptocurrency, the mining giant plans to open its sites in Washington state and Canadian Quebec.

Note that last month Bitmain completed the next round of the investment campaign, within which it raised $ 400 million. At the moment, the mining giant is estimated at $ 12 billion.

Thus, Bitmain is not only the most expensive company in the crypto currency industry, but also the most expensive private technology start-up. Representatives of the company expect that after the release of Bitmain to IPO, the company's shares will be worth $ 40 billion.

It is significant that Bitmain will soon be able to gain control over 51% of the bitcoin network. At the end of June, the pools of BTC.com and Antpool, owned by the mining giant, produced an aggregate 42% of bitcoin blocks.

Bitmain to Close Norwegian Office

Main reason for this decision was the cancellation by the local authorities of special preferential conditions for the mining industry
18 March 2019   61

The Chinese manufacturer of mining equipment Bitmain announced the closure of the Norwegian division, according to ICOshock.

The office will be moved to Germany, where, according to representatives of Bitmain, the conditions are more favorable. The Scandinavian office of a Chinese company lasted only a year.

According to Julie Hvideberg, ex-manager of the Norwegian division of Bitmain, the main reason for this decision was the cancellation by the local authorities of special preferential conditions for the mining industry, including lower electricity tariffs. She also expressed the opinion that in the future the largest mining pools will be concentrated in China and Russia, where there is low-cost electricity.

Last year the problem with problems with regulators was faced by the Norwegian mining farm Kryptovault. Authorities and local residents considered the company too noisy.