Crypto Mining – Page 3 – Billionaire365

Bitmain Crypto Mining Equipment Manufacturer Expands In Israel And Diversify Its Investments

The Chinese company Bitmain, the largest manufacturer of crypto mining equipment, will triple its workforce at its headquarters in Israel. The company revealed that it would hire 40 professionals to reinforce the staff of 15 currently working in its development center in the city of Ra’anana, in the Central District.

Bitmain, recently valued at $12 billion, told the Globes portal that it would recruit blockchain researchers, senior security and software engineers, marketing staff, Python and JavaScript programmers, and quality control staff, who will be led by Gadi Glikberg, the development center administrator and vice president of the firm.

Bitmain crypto mining equipment manufacturer, far from being cautious about the behavior of the cryptocurrencies market in 2018, has shown signs of continuing to grow and diversify. According to Glikberg, the company has received a significant boost since last year, “as a result of the growing adoption of blockchain technology in general and of cryptocurrencies in particular.”

At the beginning of the year, it became known that Bitmain was building its new headquarters in Switzerland, specifically in the city of Zug, the famous “CryptoValle,” to serve the European market better.

Bitmain, world’s leading crypto mining equipment manufactures, is investing in many cryptocurrency-related projects

In addition to the expansion plans for its headquarters in Israel, the Bitmain crypto mining equipment producer has recently invested in several projects.

In early July it announced the intention to invest $50 million in Opera Ltd, which would give the company shareholder control of the firm behind the Internet browser.

Also, on July 16th, Block.one, the developer of the blockchain EOSIO protocol, the engine of EOS (EOS), said in a statement that Bitmain, along with three other major investors, led the last round of financing for the company. About this investment, Jihan Wu, co-founder of Bitmain, said that “the EOSIO protocol is an excellent example of blockchain innovation.

After its last round of funding, where it raised more than $400 million, representing a $12 billion valuation for the startup, Bitmain officially became the most significant global conglomerate of Bitcoin (BTC) and crypto mining.

Bitmain markets hardware dedicated to the crypto mining, and currently controls 80% of this market. The company was founded by Jihan Wu and Micree Zhan in Beijing and has offices in Shenzhen, Shanghai, Chengdu, Hong Kong, Fuzhou, the United States, Israel, the Netherlands, and Switzerland.

Anna Galvez

KashMiner Crypto Mining Device Subject Of A Scandal Between Kodak And Spotlite, Its Two Developers

KashMiner, the crypto mining tool developed by Spotlite USA for the Kodak company, will cease to be one of the photographic multinational’s cryptocurrencies projects as it will not gain the approval of the United States Securities and Exchange Commission (SEC) for its legal operation.

The news has been reported by the BBC, which says the denial of KashMiner’s license is due to allegations of fraud led by experts in the field, who claimed that the startup that developed the initiative, the Spotlite, had offered unattainable and misleading profits with the product.

KashMiner crypto mining project was promoted as the first Bitcoin (BTC) mining initiative by Kodak developed by Spotlite. The tool was presented last January at the Kodak booth at the CES Show Technology event in Las Vegas.

The initial rental of the machine was estimated at $3,400, ensuring that the tool could generate a profit of $375 per month over two years from mining on the Bitcoin (BTC) network. Similarly, Halston Mikail, CEO of Spotlite USA, had assured that 80 machines had already been installed in the Kodak building and were fully operational.

Kodak stated they ceased their participation in the KashMiner crypto mining project

Critics of the event called KashMiner a “scam” because, due to the current difficulty of Bitcoin’s blockchain, it was impossible to calculate such high profits from mining activities.

Saifedean Ammous, an economist, told the BBC that anyone who had bet on this tool would have lost the investment because it is impossible to earn the money with such a crypto mining device.

“There is no way your magical Kodak crypto mining tool can earn the same $375 every month,” he said. David Gerard, a writer specializing in cryptocurrency, also considered the idea of Spotlite USA to be risky, calling it “crypto madness.”

In response to the cancellation of the project, a Kodak spokesman confirmed that the project had never been licensed by the multinational, and no KashMiner crypto mining device was installed at their headquarters.

Spotlite USA reported that the company abandoned plans to rent equipment to third parties through Kodak and decided to set up its own private mining farm in Iceland.

Now, Kodak want to sue Spotlite USA on the basis that they used the company’s name in the marketing of the KashMiner crypto mining device, without being allowed to do that.

Anna Galvez