These are troubling times for Bitmain. Their value has shrunk by almost 40% and the currency market has experienced a dip, which has seriously affected the sales of mining machines in Bitmain.
Clearing stocks, laying off employees, and withdrawing mine business lines are all current ways of survival for Bitmain, yet one factor can keep them afloat, the shell of the cloud computing power that continues to survive.
Enter, BitDeer, a cloud computing company. BitDeer uses all of the Ant series of mining machines. According to the BitDeer official website, the platform has a computing power of more than 1000 P, that is, at least 40,000 Ant mining machines and many of them are the latest generations of Ants, on the market. Meaning less circulation.
The BitDeer connected mines are BTC.com and ANTpool, and Bitcoin’s products are also advertising BitDeer.
For a large company that needs continuous research and development and production of mining machines, this business It is not “sexy” right now. As a result, Bitcoin’s mines have been shut down and the miners have sold off. BitDeer is clearly a product of adjustment and a way to save cash.
Recently, the Odaily learned from the miners Jianglin that Bitmain is cleaning up two mines and clearing more than 10,000 miners, all of which were S9i and S9j miners that were just listed in June last year. Perhaps in response to this new direction taken towards Bitdeer and its computing power.
So how does it work? In simple terms, when users purchase a computing contract, they need to pay the mining machine usage fee and maintenance fee. The maintenance fee includes the electricity fee, the operation, and maintenance of the mining machine, etc. The mining machine usage fee is paid in one lump sum and no refund is given. Maintenance fees (mainly electricity charges) are not adjusted during the contract’s effective period.
Overall, it seems that Bitmain are innovating and persevering through the bear market and must be applauded.. This new development could help them financially How good this is for miners though remains to be seen.