It is assumed that the giant mining cryptocurrency Bitmain hinted that the release of its new mining equipment may depend on doubling the reward for the Bitcoin block (BTC) in 2020. On this March 27 reported the English-language news publication Asia South Morning Post (SCMP) in English.
Bitmain, which has been tested for six months, as market volatility caused redundancy and failed public offerings, reportedly said that next year’s event could reverse its fate. SCMP quoted a “company source with knowledge of the plan”.
Half of the block rewards reduces the number of BTCs awarded to miners who successfully solve algorithms for verifying transaction blocks.
In May 2020, the remuneration will be reduced from 12.5 BTC to 6.25 BTC per unit. In accordance with previous events, sources expect that prices for bitcoins will grow in advance – perhaps starting in June of this year.
"Bitmain now relies on the fact that its next flagship product, which is scheduled to be released by the end of this year, will be the winner in the market of mining equipment, capturing the expected rally," wrote the SCMP, citing an unnamed source close to Bitmain
Despite its problems, Bitmain continues to release new products with the T17 and S17, which will use their latest 7nm chip technology, now in the spotlight.
Earlier this month, the company released Z11, a specialized miner for ASK cryptocurrency Proof-of-Stake.
Meanwhile, executives said this week that the postponement of IPO applications actually helped increase the transparency of the public profile.