After Large Layoffs and Losses, What Are Bitmain’s Future Prospects?

Blockstream chief technique officer Samson Mow, who used to work at a competitor to Bitmain, discusses the latest information that the crypto mining producer suffered a $500 million loss within the third quarter of 2018. He talks about attainable causes, together with difficulties in promoting its most up-to-date miner and its stockpile of Bitcoin Money, which has dropped extra precipitously than Bitcoin over the last 12 months. We additionally cowl the in depth layoffs that the corporate has undergone in latest months, the shakeup in firm management and what the prospects are for its IPO submitting.

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Episode hyperlinks:

Samson Mow: https://twitter.com/Excellion

Bitmain: https://bitmain.com

CoinDesk article on Bitmain’s Q3 loss: https://www.coindesk.com/mining-giant-bitmain-posts-500-million-loss-in-ipo-financial-filing

CoinDesk on Bitmain’s unique IPO plans: https://www.coindesk.com/crypto-unicorn-bitmain-weighs-18-billion-ipo-one-of-worlds-largest

CoinDesk on Bitmain layoffs: https://www.coindesk.com/layoffs-underway-amid-business-adjustments-bitcoin-miner-bitmain-confirms

Dovey Wan on the layoffs: https://twitter.com/DoveyWan/status/1076717693087080448

Dovey on Jihan launching a derivative: https://twitter.com/DoveyWan/status/1100002158261428225

Unchained episode on Asia with Dovey Wan and Eric Meltzer of Primitive Ventures: https://unchainedpodcast.com/asia-edition-mining-a-crypto-yuan-and-the-two-main-reasons-the-chinese-are-interested-in-crypto-ep-102/