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Bitdeer Loses More Than Half a Billion USD, Stock Drops 20% After Developing Its Own Bitcoin Mining Chip
Bitdeer, a Singapore-based Bitcoin mining company backed by Tether, has seen its stock price plummet 20% after announcing a loss of $532 million in the fourth quarter of 2024. The main reason is that the company has invested heavily in developing its own line of Bitcoin mining ASIC chips.
Bitdeer Stock Drops 20%, Hits 3-Month Low
Shares on the Nasdaq fell to about $11.50 on Tuesday morning in New York, their lowest level in three months, in reaction to the company's difficult fourth-quarter financial report.
Bitdeer Stock Drops 20%, Hits 3-Month Low
Shares on the Nasdaq fell to about $11.50 on Tuesday morning in New York, their lowest level in three months, in reaction to the company's difficult fourth-quarter financial report.
Antminer issued an article to promote its supporting solution for #Bitcoin #mining and abalone farms, which is a set of ANTRACK and four ANTMINERs (24kW); the abalone sea farm is located in Japan (about 500 square meters, 100,000 abalones); the seawater needs to be maintained at a constant temperature of 21+1°C throughout the year, and heating is required for about 8 months of the year, and the electric heating cost is as high as $104/day; the ANTRACK+ waste heat utilization solution is used instead of electric heating. #BITMAIN
U.S. Customs intensifies efforts to seize Bitcoin mining ASIC equipment, affecting multiple manufacturers
According to Blockspace, U.S. Customs and Border Protection (CBP) has begun seizing Bitcoin mining #ASIC equipment including #MicroBT and #Canaan at the request of the Federal Communications Commission (FCC), expanding last year’s operation against #Antminer equipment. The devices, which the affected companies said were worth $5 million, were seized because they contained AI chips that were not approved by the FCC. Customs clearance issues have extended to multiple ports, with vendors such as #Bitmain , Canaan and MicroBT facing difficulties.
According to Blockspace, U.S. Customs and Border Protection (CBP) has begun seizing Bitcoin mining #ASIC equipment including #MicroBT and #Canaan at the request of the Federal Communications Commission (FCC), expanding last year’s operation against #Antminer equipment. The devices, which the affected companies said were worth $5 million, were seized because they contained AI chips that were not approved by the FCC. Customs clearance issues have extended to multiple ports, with vendors such as #Bitmain , Canaan and MicroBT facing difficulties.
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⚡️ Bitmain Starts Production in the US! Is It a Smart Move or Just Trade Drama? 🔥
Bitmain, one of the giants in the Bitcoin mining world, has just announced its production expansion to the United States. This strategic move aims to improve supply chain efficiency and provide faster service to customers in North America.
But, there's drama behind it! 😲
Although production is getting closer to the US market, Bitmain has to face a big challenge: the detention of their latest device, the ANTMINER S21 Pro, at the port by US Customs and Border Protection. Why is that? The increasing US-China trade tensions coupled with the import tariff policy from the US government are factors that make this expansion move more complex.
Is this a sign that the future of the crypto industry will be more "localized"? 🤔 Or will this open up new opportunities for mining entrepreneurs in America?
🔍 Pro Tip: This development could affect the cost and distribution of mining hardware in the US market. Don't miss the latest updates on import tariff policies that may impact the global crypto industry!
💬 Your comments? What do you think about Bitmain's US expansion? Is it a smart strategy or are there hidden risks?
#cryptonews #bitmain #antminers21 $BTC
Bitmain, one of the giants in the Bitcoin mining world, has just announced its production expansion to the United States. This strategic move aims to improve supply chain efficiency and provide faster service to customers in North America.
But, there's drama behind it! 😲
Although production is getting closer to the US market, Bitmain has to face a big challenge: the detention of their latest device, the ANTMINER S21 Pro, at the port by US Customs and Border Protection. Why is that? The increasing US-China trade tensions coupled with the import tariff policy from the US government are factors that make this expansion move more complex.
Is this a sign that the future of the crypto industry will be more "localized"? 🤔 Or will this open up new opportunities for mining entrepreneurs in America?
🔍 Pro Tip: This development could affect the cost and distribution of mining hardware in the US market. Don't miss the latest updates on import tariff policies that may impact the global crypto industry!
💬 Your comments? What do you think about Bitmain's US expansion? Is it a smart strategy or are there hidden risks?
#cryptonews #bitmain #antminers21 $BTC
RECENTLY: In its January operational update, Nasdaq-listed #Bitcoin mining company Hut 8 reported producing 65 $BTC , a 27% decline from the previous month, while its Bitcoin holdings grew to 10,208 $BTC and computing power reached 9.4 EH/s, with its Vega data center set to go live in Q2 2025 for a #bitmain hosting deal.
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