- Bitmain is planning to deploy 200,000 units of its own mining equipment in China to take advantage of cheap hydroelectric power this summer.
- The equipment is conservatively estimated to cost $80 million, but it may be more profitable right now for Bitmain to mine crypto itself than try to sell all this inventory.
- The move signals a broader shift in the market, with miners preparing to invest again following last year’s contraction in capacity.
Depending on crypto prices…this could just make things worse…price/difficulty wise…
…Ideally, I’m dead wrong and it acts as a pump on crypto in general and btc/ltc in pariticular
good/bad we will as always, be the first to know I guess