10,000 ASICs Disappear from Bitmain's Mining Farm

News
Thu, 07/23/2020 - 14:57
Alex Dovbnya
Bitcoin suffers serious economic losses following the disappearance of 10,000 of its mining machines
Cover image via stock.adobe.com
Contents

Ten thousand ASIC miners have been stolen from one of Bitcoin’s mining farms located in Inner Mongolia, according to the company’s recent announcement via Chinese cryptocurrency news outlet 8BTCnews.

The incident, which caused "serious economic losses," has been reported to the police.

Related
Bitcoin Mining Giant Bitmain to Sell Antminers in New Promising Market

Be careful what you buy

The litany of missing machines includes Bitmain’s entire Antminer fleet—from S9 to T17.

In late June, the Chinese mining giant also started to ship its latest generation of T19 miners, but it appears that they did not make it to the troubled farm.

The company urges anyone with knowledge of the whereabouts of its stolen equipment to get in contact with them, claiming that it will go "all-out" in order to recover the equipment.

Most likely, the equipment will hit the secondary market, which is why Bitmain claims that it is important to check the serial number (SN) of every machine purchased from third parties in order to avoid legal problems.

Furthermore, Bitcoin warns potential customers about the possibility of being scammed by their impersonators, who are unlikely to deliver any equipment at all.

Staying out of the crossfire

While commenting on this news, Blockstream CSO Samson Mow recommended against dealing with Bitmain so as to not get caught in the company’s ongoing civil war: 

"Don’t buy from Bitmain. Don’t host with Bitmain. Don’t pool with Bitmain. The #BitmainCivilWar is just starting to heat up. Don’t get caught in the crossfire."

The widely-covered power clash between Bitmain co-founders, Jihan Wu and Micree Zhan, is decimating the company that is also being stifled by its upstart competitor MicroBT.

Zhan, who was infamously ousted by Wu last October, decided to build a separate supply chain in Shenzhen following his legal victory in May.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.


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