Bitmain rumor says 740 Mil - Q3 Loss

[dagarair]

If so ROFL.  How the mighty have fallen and might not survive.  This tariff stuff just killed USA purchases I'm sure then coupled with this massive slide, wow.  a 52$ LTC miner will make nothing and cost you about 130 - 140$ to get with tariff and shipping.  Also the lawsuit just placed about hijacking BCH / BTHABC thing.  That probably won't hold water but still with regulations coming, this might be an issue.  It's still the wild west, but its quickly getting tamed.  The golden days of mining will not be back but I think there is still a great mining upside in the future,.... just not 1000% a day.

Mine on!

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[Metroid]

It's a lot more than this but soon they will recover, their business logic is unbeatable, selling year old asics as new cant go wrong and there are plenty idiots that buy from them.

[jstefanop]

It's a lot more than this but soon they will recover, their business logic is unbeatable, selling year old asics as new cant go wrong and there are plenty idiots that buy from them.

I would love to see them go belly up, but sadly the extracted so many billions out of everyone during the boom that they can probably afford a few billion dollar quarter losses.

[NeuroticFish]

Maybe they have loses in fiat currency. But are you sure they are not on profit in Bitcoin, even at this price?
Maybe they are in difficulty now, but they may be ROFL big time when Bitcoin gets rising again.
Maybe they only made their papers look bad tax-wise...

[dagarair]

Yeah true, but i bet their IPO hopes are fubar.

[poodle63]

If so ROFL.  How the mighty have fallen and might not survive.  This tariff stuff just killed USA purchases I'm sure then coupled with this massive slide, wow.  a 52$ LTC miner will make nothing and cost you about 130 - 140$ to get with tariff and shipping.  Also the lawsuit just placed about hijacking BCH / BTHABC thing.  That probably won't hold water but still with regulations coming, this might be an issue.  It's still the wild west, but its quickly getting tamed.  The golden days of mining will not be back but I think there is still a great mining upside in the future,.... just not 1000% a day.

Mine on!

This guys was creating so many problems in the cryptocurrency (Bitmain owner)
After 1.5 billion lost due to the bitcoin cash and he was getting another loss on Q3. We don't need bitmain to create the decentralized network. 

[Didi CC]

Their biggest problem is they sold Bitcoin to buy Bitcoincash.
There is a list with their holdings, they went full Bitcoincash and their Bitcoins weren't sold at the ATH, so they lost there and since their little Hashwar they even lost more.

But hey, its China based, so who knows which rabbit the pull next

[Efemen]

It's a lot more than this but soon they will recover, their business logic is unbeatable, selling year old asics as new cant go wrong and there are plenty idiots that buy from them.

year old asics ?

I thought S15 is new technology.

[dagarair]

new tech thats old.  The other guys have a 40th about to be out and I still would not touch that with a 10ft poll.  Also USA tariffs at 28% is a USA killer so i doubt many US peeps buying anying mining in china.  Especially now in a depressed state.

[Locotoni]

If so ROFL.  How the mighty have fallen and might not survive.  This tariff stuff just killed USA purchases I'm sure then coupled with this massive slide, wow.  a 52$ LTC miner will make nothing and cost you about 130 - 140$ to get with tariff and shipping.  Also the lawsuit just placed about hijacking BCH / BTHABC thing.  That probably won't hold water but still with regulations coming, this might be an issue.  It's still the wild west, but its quickly getting tamed.  The golden days of mining will not be back but I think there is still a great mining upside in the future,.... just not 1000% a day.

Mine on!

yes, becouse they are makeing new and new miners, and i turned OFF my S9, becouse them make new better miner, and makeing new and new in all 5-6 month.

why i want buy new miner, if i will turned off after 5 month?

them want NEW 1.

if they will say - we dont make new miners  after 18-19 month. i think this is good, for bitmain, for miner owners, for crypto owners, for  Traders.

[Marvell2]

new tech thats old.  The other guys have a 40th about to be out and I still would not touch that with a 10ft poll.  Also USA tariffs at 28% is a USA killer so i doubt many US peeps buying anying mining in china.  Especially now in a depressed state.

honestly I doubt the usa is a large portion of thier sales.  Russia and china and even sone middle east countries have way cheaper than the us.  Theres also canada where most of the north american farms are.

BCC and price drop of cryto is thier bigger issue

[DrG]

Jihan had plenty of BTC and BTC forks in his wallets, but I'm sure they're running low on fiat to pay for their massive operations and upcoming legal issues. I expect they will liquidate some of their holdings to have some working capital.

And in true Bitmain fashion, I fully expect them to place some shorts, dump on the market at some off time and cause a panic sell off, and rebuy on the sell-off after having closed out their shorts.

Remember kids, even when Bitmain is losing they're winning. For those of you who don't understand - they're going to manipulate the prices some more (and not out of greed like they usually do but out of necessity this time lol).

[huntingthesnark]

Jihan had plenty of BTC and BTC forks in his wallets, but I'm sure they're running low on fiat to pay for their massive operations and upcoming legal issues. I expect they will liquidate some of their holdings to have some working capital.

And in true Bitmain fashion, I fully expect them to place some shorts, dump on the market at some off time and cause a panic sell off, and rebuy on the sell-off after having closed out their shorts.

Remember kids, even when Bitmain is losing they're winning. For those of you who don't understand - they're going to manipulate the prices some more (and not out of greed like they usually do but out of necessity this time lol).

They've certainly got the resources and motivation to do so, think it's a fair bet!

[Number6]

Jihan had plenty of BTC and BTC forks in his wallets, but I'm sure they're running low on fiat to pay for their massive operations and upcoming legal issues. I expect they will liquidate some of their holdings to have some working capital.

And in true Bitmain fashion, I fully expect them to place some shorts, dump on the market at some off time and cause a panic sell off, and rebuy on the sell-off after having closed out their shorts.

Remember kids, even when Bitmain is losing they're winning. For those of you who don't understand - they're going to manipulate the prices some more (and not out of greed like they usually do but out of necessity this time lol).

There would be no tears shed on my end (maybe tears of joy) if the likes of Bitmain were seriously hurt during this downtrend, but unfortunately I think you are correct. They are so large that even during bad times they can manipulate the market enough to benefit themselves.

Also, as another poster pointed out, they are probably only publicizing this for tax reasons and not really financially hurting.

[vuli1]

karma is a bitch

[asukahan]

If so ROFL.  How the mighty have fallen and might not survive.  This tariff stuff just killed USA purchases I'm sure then coupled with this massive slide, wow.  a 52$ LTC miner will make nothing and cost you about 130 - 140$ to get with tariff and shipping.  Also the lawsuit just placed about hijacking BCH / BTHABC thing.  That probably won't hold water but still with regulations coming, this might be an issue.  It's still the wild west, but its quickly getting tamed.  The golden days of mining will not be back but I think there is still a great mining upside in the future,.... just not 1000% a day.

Mine on!

yes, becouse they are makeing new and new miners, and i turned OFF my S9, becouse them make new better miner, and makeing new and new in all 5-6 month.

why i want buy new miner, if i will turned off after 5 month?

them want NEW 1.

if they will say - we dont make new miners  after 18-19 month. i think this is good, for bitmain, for miner owners, for crypto owners, for  Traders.

wtf r u saying

[Metroid]

Downthread/beartime is about to end soon, watchout cause if any of you trolls dont buy back now then you will be left behind, momentum has been building for the incoming monstrous pump. Bitmain and its bcash is done for, eth is future and btc is the holding stand.

[jadefalke]

I mean same story happened to KNC right? they could not keep their Operations running during last BTC Crash.
And imagine BTC drops down back to 1K, that might kill the Giant...