Bitmain broke? The company cannot pay its debts with its main supplier
Source:
Now will not cooperate with its main chip supplier Taiwan Semiconductor Manufacturing Company (TSMC). The relationship between the two companies are not in the best shape, Bitmain already owes over $ 300 million for the supply of raw materials. At one point the total debt of mining giant reached 1 billion, but the company was able to cover $ 700 million on its obligations.
Recall, TSMC is a leading manufacturer of semiconductor chips. At the beginning of 2018 the company's market share reached 56 per cent and still continues to grow.
theBitmain slid
It is Noteworthy that news on insolvency Bitmain appeared exactly two months after was a detailed analysis of the company research Department of the exchange BitMEX. Recall, even then, there were the first signs of a weak financial situation, the largest miner of Bitcoin.
While Gigabyte did not give any official comments about this situation. However, it is unlikely the manufacturer of microchips will continue to do business with this debtor. While we have only a short comment from an anonymous source.
If TSMC will still continue to work with Bitmain, they need commitment «good behavior». The flow of chips to the market will decrease, as the manufacturer will start to work at full capacity only after repayment of all debts from your customers.
In the Internet appeared rumors that Bitmain can switch to Samsung. Probably for this reason, the guide Samsung is in no hurry to cooperate with the mining company — who needs a debtor who is not regularly fulfilling its obligations?
image Source — Bitcoin News
Experts also attributed to the lack of funding, the recent announcement Antminer S15 and T15. Manufacturer about the start of sales, but not shared characteristics and price.
In light of what is happening even successful IPO Bitmain could be in jeopardy. It seems that now the head of the company Cihan Wu ordered a gradual transition extraction BCH instead of Bitcoin. It is unknown whether it will pay off this strategy in the future and that Wu is planning to do with the huge stockpile of coins BCH. The way out of the situation you know our experts .
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