{"id":85471,"date":"2023-10-09T09:54:55","date_gmt":"2023-10-09T06:54:55","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85471"},"modified":"2025-09-12T23:31:45","modified_gmt":"2025-09-12T20:31:45","slug":"media-reports-on-bitmains-financial-problems","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/media-reports-on-bitmains-financial-problems\/","title":{"rendered":"Media reports on Bitmain&#8217;s financial problems"},"content":{"rendered":"<p>Bitmain, the world&#8217;s largest maker of mining equipment, partially withheld salaries from all employees in September, according to journalist Colin Wu.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Exclusive: Bitmain, the largest Bitcoin mining machine manufacturer, issued a notice on October 3 that since the company&#8217;s operating cash flow has not yet turned positive in September, it has decided to suspend the payment of part of the salary of all employees in September.\u2026 <a href=\"https:\/\/t.co\/B4h4sWvQQS\">pic.twitter.com\/B4h4sWvQQS<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1710880716383494207?ref_src=twsrc%5Etfw\">October 8, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In an internal memo, the company cited that cash flow for the month did not turn positive.<\/p>\n<p>As of October 7, the firm said it had settled most of the debt; according to Bitmain, only &#8216;some people&#8217; did not receive full payments.<\/p>\n<p>In the end of September, the company held the World Digital Mining Summit conference in Hong Kong and released a new flagship for Bitcoin mining, <a href=\"https:\/\/u1f987.com\/en\/news\/bitmain-to-release-antminer-s21-with-energy-efficiency-below-20-j-th\">Antminer S21<\/a>, the reporter noted.<\/p>\n<p>During the event, the manufacturer signed an <a href=\"https:\/\/u1f987.com\/en\/news\/bitmain-invests-54-million-in-bitcoin-miner-core-scientific\">agreement on investments in Core Scientific<\/a> as part of the supply of 27,000 units of Antminer S19j XP. The American mining company will pay for the batch of equipment $23.1 million in cash and $53.9 million in common stock.<\/p>\n<p>In October, it became known that Iris Energy <a href=\"https:\/\/u1f987.com\/en\/news\/iris-energy-to-spend-19-6-million-on-purchase-of-7000-bitcoin-miners\">will acquire<\/a> from Bitmain 7,000 Antminer S21 units for $19.6 million. The contract price of the miners, translated into hash rate, turned out to be below the market rate, according to Hashrate Index.<\/p>\n<p>In August, Bitmain <a href=\"https:\/\/u1f987.com\/en\/news\/bitmain-to-pay-compensation-if-bitcoin-falls-sharply\">offered<\/a> buyers of the S19j XP a safeguard mechanism that provides financial compensation for declines in Bitcoin prices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitmain, the world&#8217;s largest maker of mining equipment, partially withheld salaries from all employees in September, according to journalist Colin Wu.<\/p>\n","protected":false},"author":1,"featured_media":85472,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[426,83,1137],"class_list":["post-85471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitmain","tag-business","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=85471"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85471\/revisions"}],"predecessor-version":[{"id":85473,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85471\/revisions\/85473"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/85472"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=85471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=85471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=85471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}