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The Chinese tax authority claim Bitmain was issued with a tax violations notice in August last year but has withheld paying individual tax income of about $2.4 million. Bitmain Technologies Ltd., a Beijing-based company that is well known for designing application-specific integrated circuit (ASIC) chips used in Bitcoin mining, has reportedly
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Beijing-based cryptocurrency mining firm Bitmain has reportedly violated tax regulations in China, with local authorities imposing major fines.Bitmain Technologies has been slapped with a tax penalty from the Beijing Municipal Office of the State Administration of Taxation, the local news agency Sina Finance reported on April 11.The authority fined Bitmain
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Bitcoin miner CleanSpark is growing its mining capacity in the United States with the purchase of 20,000 new Antminer S19j Pro+ units for $43.6 million. The acquisition is expected to boost the company’s computing power by 37% and brings the total number of miners purchased during the bear market to
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Bitcoin mining operation Cleanspark has acquired 20,000 brand-new Bitmain mining rigs for $43.6 million, the company reported. Once installed, Cleanspark expects to increase its capacity by 37% by adding roughly 2.44 exahash per second (EH/s) to the firm’s fleet. Cleanspark CEO Says Proprietary Mining Model Gives Company Greater Control and Efficiency Cleanspark,
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Debtors for crypto lender Celsius Network have the authority to sell coupons for mining firm Bitmain coupons worth roughly $7.4 million following a ruling from a bankruptcy judge.In a Feb. 16 court filing, United States Bankruptcy Judge Martin Glenn said it was in the “best interests of the Debtors’ estates,
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The assets, which offer a discount of 10%-30% on Bitmain purchases for a limited period, can be sold to any bona fide third party, but with with the consent of a Committee representing Celsius’ unsecured creditors, bankruptcy judge Martin Glenn said. Source
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The company joins Core Scientific in trying to offload the assets before expiry, and will use the funds to repay creditors. Source
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Bankrupt Bitcoin (BTC) mining firm Core Scientific filed on Jan. 25 an emergency motion seeking to sell Bitmain coupons worth $6.6 million, according to court records.As per the filing, some conditions applied to the coupons make them useless for Core Scientific's business. Specifically, the coupons can "only be used to
Read MoreChina’s mining giant Bitmain has entered a new partnership to streamline its operations in North America.As Bitmain officially announced on Sept. 10, the company has officially partnered with Foundry, a wholly-owned crypto mining subsidiary of major cryptocurrency firm, Digital Currency Group, or DCG. Within the partnership, Foundry will provide financing
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