Bitmain's 'Antminers' dominate the market – but customers aren't buying
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That situation has made furloughs necessary for at least September – with a decision to be made on October employment last weekend.news of a reward scheme for loyal customers who paid for orders placed before the so-called"Crypto winter" – which saw prices for common cryptocoins crash and investors cool on the instruments after events like the collapse of FTX and TerraLuna.
With former FTX boss Sam Bankman-Fried on trial, nasty news about crypto will be hard to escape for weeks to come. Bitcoin, meanwhile, trades for around $27,600 apiece at the time of writing – down from a June 2023 high of over $30,000 and well below the $61,000-plus price from late 2021. Ethereum's November 2021 peak of $4,600 has seldom been sighted since: it now sells at $1,584 apiece.
At those prices – and with energy costs high thanks to Russia's illegal invasion of Ukraine – it's not hard to see why would-be miners aren't filling in purchase orders for ASICs and using express couriers to speed them to Bitmain. That appears not to have happened, leaving Chinese workers out of pocket and facing uncertain futures – a status shared by plenty of crypto investors. ®3China identifies AI, optoelectric semiconductors, as challenges it wants to crackMicron revenue halved in FY23 as China ban bites
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