Ex Bitmain Head May Launch OTC Platform

Some experts says China may provide a new startup called Matrix with a monopoly right to trade in digital assets
06 June 2019   166

According to The Block, by the end of July, Jihan Wu intends to launch a startup Matrix, specializing in over-the-counter trading, lending and custodial solutions.

According to Chinese sources familiar with the situation, Bitmain will be the key partner of Matrix. Earlier, the Chinese giant contributed to the development of a startup.

Put it this way, they will be the biggest OTC desk and asset-manager [in the world] overnight. With liquidity like that, [low] prices follow. [Matrix should have a competitive advantage in the region as the Asian market is] a lot more price sensitive.

Source which works closely with investors in Asia

Also Matrix will provide Bitmain custody and landing services.

Due to the ban on trading in cryptocurrencies in China, Matrix is ​​likely to be registered in another jurisdiction. However, some experts do not exclude that the authorities of the People's Republic of China with the aim of dedening the industry may provide a new startup with a monopoly right to trade in digital assets.

Due to disagreements on key issues, Bitmain founders Jihan Wu and Micree Zhan left executive positions, but reserved the right to make important strategic decisions.

Giant Mining Solar Powered Farm to Created in California

Plouton Mining will allocate solar panels on 49 acres and it's planned they should generate about 10-13 megawatts per day, working for an average of 12 hours
26 June 2019   67

Plouton Mining, a subsidiary of Plouton Group Holding, intends to open the largest Bitcoin farm in North America for mining, whose operations will be provided by solar energy. To this end, the firm chose a territory in the western part of the Mojave Desert, California.

Plouton Mining will place solar panels on 49 acres: they should generate about 10-13 megawatts per day, working for an average of 12 hours. The company stressed that Western Mojave receives sunlight for 70% of the year.

The company will also sign the necessary contracts with local electricity suppliers in order to operate the farm in the absence of solar radiation.

Meanwhile, the bitcoin hashrate has again updated the historical maximum at 66.666 EX / s.