Bitcoin, Crypto currency, Blockchain

Bitmain: More transparency in shipping and Mining

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The Chinese Mining Hardware maker Bitmain released a catalog with new guidelines for the shipping and Mining. In order to meet the crypto-Community with more transparency and participation. In addition, the manufacturer is working on a new round of financing that could be about to flush a billion dollars in the coffers.

In a Blog Post Bitmain announces the guidelines of the new “Transparency Policy for Shipping and Mining”. Both in the areas of shipping (Shipping) of the products as well as in the Mining itself, it is necessary to increase transparency and dialogue with the crypto-Community strengths.

Bitmain States that it is in the past already taken some measures to respond to the users as transparently as possible. So you have borders around the orders, keep a clear First-Paid-First-Ship-order, blocking suspicious IP addresses and publish detailed Updates regarding the shipment.

Four actions to increase transparency

Nevertheless, you would like to stay more on the Ball and the crypto-Community with the best possible service. For this purpose it has defined four points, where one would like to particularly strive. First, Bitmain wants to give its customers every 30 days information about the current Bitmain Mining Algorithms and the total Hashrate of all Bitmain devices.

Furthermore, you want to show a hard line against clandestine Mining. As such, it is referred to, if an ASIC manufacturer he has made with the newly developed product is mint, without the other hand, the new technology accessible. Also, the Mining of empty blocks, caused occasionally by problems in the Protocol, should be avoided. The charge to operate the Mining systematically, Bitmain still.

Last but not least the shipping and volume information for the first model of the new Miner will be released. The amount and the time stamp of the payment will be published on the official Antminer Twitter Account.

A billion dollars in Pre-IPO?

However, Bitmain does not just draw up more detailed guidelines for the transparency, but is also working at full speed on the planned IPO. How regional Chinese media reports, ushers Bitmain in the next few days the next round of funding – approximately US $ 400 million in the last month. Thus, the company would have a market value of 14 billion U.S. dollars.

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