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A New Semiconductor Manufacturing Competitor Has Entered the ASIC Bitcoin Mining Rig Industry – Mining Bitcoin News – Bitcoin News

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by Jamie Redman
While companies like Microbt, Bitmain, Innosilicon, Strongu, Ebang, and Canaan have ruled the roost in terms of manufacturing application-specific integrated circuit (ASIC) bitcoin miners, a new challenger has entered the competition. A relatively unknown integrated technology firm called AGM Group Holdings has seen a lot of ASIC sales and partnerships in recent times.
2021 has seen record sales, in terms of ASIC mining rigs sold by bitcoin mining rig manufacturers like Microbt, Bitmain, and Canaan. Mining operations located all around the world have purchased thousands of bitcoin mining devices from these firms during the last year.
The demand for ASICs has been so high, many orders placed this year are due to be shipped at some point in 2022. Now a new challenger has entered the ASIC bitcoin mining rig manufacturing competition and recent press announcements detail AGM Group Holdings (Nasdaq:AGMH) is selling a lot of crypto mining products.
On November 3, AGM announced it had “won a purchase order” from Code Chain New Continent Limited (Code Chain) and will deliver 10,000 units of its 100 terahash (TH/s) mining rigs. While AGM won the purchase order worth $65 million in ASIC machines, the mining products are expected to be shipped in the second half of 2022. According to AGM’s website, the company sells three types of bitcoin miners with various performance ratings.
“[The] KOI Miner C16 Series [supports] mining of bitcoin, bitcoin cash and other cryptocurrencies. [The] KOI Miner C16 is built on a new architecture using FinFET N+1 process technology,” AGM’s website description details. “The computing power as a whole machine passes 100TH/s, as high as 113TH/s, with [the] energy consumption rate of the unit computing force reduced to as low as 30J/T.”
At 113 TH/s, the KOI Miner C16 S model is estimated to pull in $39.92 per day with an electrical consumption of $0.12 per kilowatt-hour (kWh). It would compete with the top three mining devices the Microbt Whatsminer M30S++, the ​​Ipollo B2, and Bitmain’s Antminer S19 Pro. There are no reviews online yet about AGM’s KOI Miner C16 series miners and the machines are not yet listed on real-time ASIC hardware profitability rankings.
A New Semiconductor Manufacturing Competitor Has Entered the ASIC Bitcoin Mining Rig Industry
In addition to the November 3 purchase announcement, a slew of other media statements have been published by AGM during the last two months. AGM announced its “first significant order” for 30,000 mining rigs on October 13, when it sold the ASIC miners to Nowlit Solutions Corp, a digital currency equipment supply chain service. On October 21, AGM sold 25,000 ASIC miners to Minerva Semiconductor Corp. Furthermore, AGM revealed a partnership with Meten Holding Group, a Nasdaq-listed English language coaching firm that is based in China.
The partnership announcement caused Meten Holding Group’s stock (Nasdaq:METX) to soar in value, increasing over 44% on October 28. On that day, METX was swapping for $0.5990 per share and today, METX is changing hands for $0.62 per share. AGM’s shares on Nasdaq, AGMH, were swapping for $11.40 per share on November 5, and each share has gained 3.771%, now trading for $11.83 per unit.
What do you think about the relatively unknown mining rig manufacturer stepping into the bitcoin mining industry? Let us know what you think about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, AGM Group Holdings
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Dow Jones Falls, Growth Stocks Crushed; Bitcoin Dives Again; Bank Of America Does This As Financials Thrive – Investor's Business Daily

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BREAKING:  Stock Market Correction Intensifies; Bitcoin Extends Losses Saturday
The Dow Jones Industrial Average fell late as growth stocks got spanked. Bank of America (BAC) passed a buy point as financial stocks flourished. Bitcoin was diving again, hitting Coinbase (COIN) and Grayscale Bitcoin Trust (GBTC). Discovery (DISCA) popped on an upgrade but New York Times (NYT) plunged.
The stock market struggled following a disappointing jobs report. The Labor Department reported U.S. employers added 199,000 jobs in December. That was about half what economists polled by Econoday had expected. It was also a big decline from the 249,000 jobs created in November.
The unemployment rate dropped to 3.9% from 4.2% the prior month. Economists had forecast 4.1%.
The tech heavy Nasdaq the worst hit major average, falling 1%. China e-commerce play Pinduoduo (PDD) was doing well again, closing up more than 7%. Payments stock MercadoLibre (MELI) lagged, falling 6.2%.
The S&P 500 also fell again, closing down 0.4%. Housing play D.R. Horton (DHI) lagged most, falling 6.2%. Homebuilder stocks in general struggled. The SPDR S&P Homebuilders ETF (XHB) surrendered 3.4%.
A majority of the S&P 500 sectors closed lower. Energy and financials performed best while technology and consumer discretionary were the worst laggards.
Small caps were also getting mauled by the bears. The Russell 2000 was down 1.2%.
But it was growth stocks that were given the worst thrashing. The Innovator IBD 50 ETF (FFTY), a bellwether for growth stocks, fell 2.7%.
The Dow Jones Industrial Average looked set to close positive before reversing late. It ended the session basically flat, ceding about five points.
Boeing (BA) was one of the top performers, rising 2%. It remains stuck beneath its 200-day moving average.
Walgreens Boots Alliance (WBA) was the top stock on the Dow Jones today. It closed up 2.7%. Home Depot (HD) was the biggest laggard, falling more than 2%.
Financial stocks are continuing to rally on the prospect the Federal Reserve will raise interest rates faster than previously expected.
Banking giant Bank of America managed to break past a cup-without-handle base buy point of 48.79. It ended the day above this entry after gaining 2.2%.
It formed an orderly looking pattern despite a volatile market, MarketSmith analysis shows. BAC stock’s relative strength line has just hit a new high, a bullish indicator.
While its volume is not ideal, the fact it is rising amid broader downward action is impressive.
Another stock worth watching is regional banking play Western Alliance Bancorp (WAL). It is currently building a new cup base with a 124.98 buy point.
Volume has been spiking as it forms the right side of the base, which is a good sign. It bullishly reclaimed its 50-day moving average Tuesday.
Western Alliance operates in areas including Arizona, Nevada and Southern California.
Underlining strength among financials, the Invesco KBW Bank ETF (KBWB) rose 1.6%.
Bitcoin-related stocks were falling as the cryptocurrency continued to slide. Bitcoin was trading under $42,000 after falling about 3% in the past 24 hours, according to CoinDesk.
One crumb of comfort was the fact it was off lows for the day.
The digital currency has now given up almost 40% from the levels it reached in early November.
Bitcoin plays such as Coinbase Global, Grayscale Bitcoin Trust and Riot Blockchain (RIOT) were all hit.
Cryptocurrency exchange COIN closed off lows, giving up 0.7%. GBTC fared worse, falling nearly 4%.
Bitcoin miner RIOT also ended the day off lows, giving up 0.6%.
There was some interesting movement in the media space amid upgrade and acquisition news.
Discovery roared 16.9% higher after Bank of America upgraded the stock to buy due to its mooted merger with WarnerMedia.
Analysts believe the new firm could create a strong rival to media powerhouses Netflix (NFLX) and Walt Disney (DIS) in the streaming space.
Meanwhile shares of the New York Times plunged on news it plans to buy sports news site The Athletic for $550 million. It is expected that transaction will close in the first quarter of this year.
New York Times stock ended the day near lows as it gave up 10.7%. It is now near 12-month lows.
Please follow Michael Larkin on Twitter at @IBD_MLarkin for more on growth stocks and analysis.
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Can I Buy Cryptocurrency With A Credit Card? – Forbes

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Updated: Jul 27, 2021, 9:00am
Like gold in the 1850s and .com stocks in the 1990s, it seems everyone is trying to get their hands on crypto. Purchasing cryptocurrency with a credit card is possible but can be a dangerous undertaking. Cardholders can expect fees from both sides of a transaction involving cryptocurrencies and credit cards, plus face the potential to lose money quickly due to volatile currency values and high interest rates.
We’ve combed through the leading exchange offerings, and reams of data, to determine the best crypto exchanges.
It’s best to check with a credit card issuer to find out whether it allows cardholders to purchase any type of cryptocurrency. American Express currently allows such transactions with a few strict terms. Bank of America recently changed its tune in 2020 when a Reddit user shared an image of a letter they received that stated cryptocurrency purchases would be treated as cash advances. (Note: Bank of America’s terms on this are still unclear.)
In addition to double-checking with a credit card company, crypto holders should also look for a cryptocurrency exchange willing to accept credit cards for deposits or purchases. Some only allow direct deposits from banks, cash deposits or debit card purchases. Coinmama, CEX.io and Paxful are all exchanges currently accepting credit cards.
Limitations also exist as to what types of credit cards are accepted by exchanges. Some exchanges may only take Visa or Mastercard credit cards. Paxful, for example, has a variety of Bitcoin vendors from around the world who sell on the exchange website. It’s one of the few exchanges currently accepting American Express credit cards, but acceptance on the exchange also greatly depends on the selected vendor.
Major U.S. credit card companies may not allow cardholders to purchase cryptocurrency with a credit card. Citibank, for example, blocked cardholders from using credit cards to purchase Bitcoin and other cryptocurrencies in 2018 fearing its volatility and the potential for fraud. Some credit card companies may even issue cash advance fees if a cardholder attempts to make a crypto purchase.
Note that some major U.S. credit card companies don’t make information on their websites easy to find regarding whether or not they allow cardholders to purchase cryptocurrencies. It’s best to call the number on the back of the card and speak to a representative. Ask clearly, directly and specifically whether or not purchasing crypto is allowed, and, if so, what types of fees will be incurred.
Some cryptocurrency exchanges don’t accept credit cards as payment, such as eToro and Coinbase.
Cardholders can expect to pay fees to both the exchange the currency is purchased with and the credit card issuer. Before making any purchases with an authorized credit card, research the exact cost for each purchase and what the monetary benefit will be (or will not be) before incurring the charge.
The exchange may charge a commission fee and/or a service fee for using a credit card to purchase or deposit crypto. For example, CEX.io is an exchange offering a handful of cryptocurrencies for purchase, including Bitcoin. Users are allowed to purchase crypto using a Visa or Mastercard credit card, but U.S. cardholders are subject to a 2.99% commission fee with a minimum purchase of $20.
Depending on the exchange, vendors within the exchange may also design fees for purchasers depending on a few factors, like where the vendor is located, the purchase amount and what type of credit card is used.
Some credit card companies allowing cardholders to make crypto purchases treat the purchases as a cash advance (cash advances usually refers to when a cardholder uses a credit card to withdraw money from an ATM). This has several disadvantages.
Let’s use common card terms as an example for the types of fees a cardholder can incur:
Other credit card risks may include:
As the cryptocurrency market evolves, so does the standard financial market. There are a few start-up credit card issuers who offer Bitcoin or other cryptocurrencies as bonuses or rewards. For example, BlockFi, a younger card company, offers 1.5% Bitcoin rewards for every purchase made. They also boast Bitcoin welcome bonuses and more rewards from trading and client referrals.
Using a credit card to purchase cryptocurrency won’t make sense for most. Cardholders should consider the major disadvantages before deciding to buy crypto using a method involving a credit card. Purchasing crypto is often best accomplished using direct deposits, debit cards or wire transfers.
Credit card purchases often come with high fees that lessen the value in a good investment or reduce returns by a significant margin. Cardholders also face a high risk of burrowing themselves into deep debt that can be hard to come out of. For those who insist on using a credit card, we advise contacting a credit card representative to discuss what the repercussions will be with a specific credit card issuer and look for a cryptocurrency exchange with the best credit card rates.
We’ve combed through the leading exchange offerings, and reams of data, to determine the best crypto exchanges.
Chauncey grew up on a farm in rural northern California. At 18 he ran away and saw the world with a backpack and a credit card, discovering that the true value of any point or mile is the experience it facilitates. He remains most at home on a tractor, but has learned that opportunity is where he finds it and discomfort is more interesting than complacency.
Dia Adams is a noted family travel expert and a real-life Mom of two teens in the DC Metro area. She has visited over 45 countries and lived in Thailand, China, and Ireland (where her son was born). Her kids have over 20 stamps in their own passports. Her passion lies in showing families how to travel more while keeping their savings and sanity. Her guidebook, Disney World Hacks, is a bestseller on Amazon.

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NFTs and DeFi overturn a banker's generational curse of poverty in 2 years – Cointelegraph

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