CryptoEconomy

Bitmain Diversifies Product Range with Aleo Blockchain Mining Machines-TGN

Bitcoin mining rigs. Source: Adobe / amixstudio

Bitmain, the leading manufacturer of Bitcoin (BTC) mining machines, has announced plans to launch miners designed for Aleo, a privacy-focused blockchain platform that utilizes zero-knowledge proofs (ZKP).

The China-based firm revealed its plans in a WeChat post on Monday, stating that it will introduce an ‘Antminer’ model tailored for Aleo, which is currently in the testnet phase.

Source: Screenshot of Bitmain’s WeChat post.

The development follows Bitmain’s recent attention-grabbing internal announcement about payment delays for its staff in September, reportedly due to cash flow challenges.

Nevertheless, the company has now resolved this issue and remains actively engaged in product expansion, although no specific timeline for the Aleo miner has been given.

Antminer S21

Bitmain has already launched its latest Antminer S21 model, with some mining firms expressing strong interest in the new machine.

For instance, CleanSpark, a Nasdaq-listed American Bitcoin miner, earlier this month disclosed a major purchase of the S21 mining machines, saying it expects to increase the efficiency of its overall operation by over 17% once all the new machines have been installed.

The move into Aleo-based mining machines aligns with Bitmain’s strategy to diversify its product range and explore new opportunities in the blockchain space.

While the firm navigates financial challenges, it remains a significant player in the mining hardware sector as the leading manufacturer of application-specific integrated circuit (ASIC) mining machines.

In addition to producing mining machines, Bitmain also operates AntPool, the world’s second-largest Bitcoin mining pool behind Foundry USA.

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