Siberia glassware factory to mine bitcoin

Largest manufacturer of glass in Russia is going to spend ₽11 mln to initiate the first stage
17 March 2018   880

Glassware plant Ekran in Novosibirsk has announced its plans to take part in cryptocurrency activity and invest ₽11 mln into its own Bitcoin mining farm. Such decision was made due to the presence of surplus space and electricity resources. This situation became possible as several years ago Ekran industrial park was established around the factory's site, and the occupied territory in sum got enormous. And so, for instance main building of an unoccupied school that is within the plant's territory is set to be repurposed for housing all of the mining equipment.

We are going to build a farm that will be used for mining cryptocurrencies there. Already, we have spent about 11 million rubles on a phase of the project. The mining facility will become operational by year’s end if the board approves the project.

 

Pavel Boboshik

President of the board of directors, Ekran

The region of Siberia has a direct access to a profusion of energy resources that makes the electricity so cheap. The latter in turn makes the region a pretty attractive place for mining operations.

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   113

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.