Bitcoin mining has become a lucrative business, but the process has also become one of the most controversial.
At least, that’s what some investors are betting on.
At the same time, mining hardware companies are scrambling to develop new ways to mine the virtual currency.
And as the price of Bitcoin rises, it’s becoming increasingly difficult for companies like Bitmain to retain control over their business.
In a recent article, crypto-currency miner Bitmain announced it will sell its 100% stake in mining company BN.
The mining firm will receive $10 million for its shareholding, according to the report.
The Bitmain mining company announced that it will acquire its mining hardware business in a bid to secure its future.
The company said that its decision to sell its stake has been in the works for months and that it expects to reach an agreement in the next few weeks.
In the article, Bitmain explained that it has been unable to maintain a profitable business despite operating in the mining business, due to increased demand for Bitcoin mining equipment.
“We’ve seen a surge in demand for mining hardware, which has pushed up prices, but that has also pushed up the cost of buying hardware,” said a Bitmain spokesperson.
“Our hardware prices are already rising significantly.”
In a statement to the media, BitMain said that the company will pay $10.2 million to acquire its remaining mining hardware.
The company also said that it plans to sell the remaining mining equipment to a third party and will be able to recover $3.2 billion in the process.
Bitmain also said in a statement that it would invest $20 million in new research and development to develop a solution for the growing demand for Bitmain hardware.
The statement also said Bitmain will seek to sell mining equipment in the future to companies that can better profit from the growing Bitcoin mining industry.
