Bitmain on brink of bankruptcy

[CryptoKush]

Bitmain made a big mistake when they started supporting BitcoinCash. If BitMain goes bankrupt, then Bitcoin will have problems with mining.

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[Nitori_m]

Bch was their ruin, they wasted millions pumping for Roger Ver. Now we all know how it ended with the fork and downturn of market

[nelson4lov]

Bitmain made a big mistake when they started supporting BitcoinCash. If BitMain goes bankrupt, then Bitcoin will have problems with mining.

It's not  just about supporting Bitcoincash, They spent millions of dollars fighting a pointless hash war which ended in nothing meaningful. Couple with the non-so-friendly crypto market, It only got worse as they didn't achieve anything at the end of the day. The IPO is their last chance now to get back to winning ways. Hope they don't fuck it up.

[andika2018]

Bitmain made a big mistake when they started supporting BitcoinCash. If BitMain goes bankrupt, then Bitcoin will have problems with mining.

I think if bitmain goes bankrupt, its dont give big effect to bitcoin because most bitcoin miner in china. There is no benefit on bitcoin cash war and its happen now. Beside the price falling, Bitmain as company goest bankrupt.

[Nanda Dewi277]

now I experience very much bankruptcy, my bitcoin coins are now not selling well, there are a lot of losses that I bear, but I am still patient

look at the bitcoin price below 4000 $ you can still use it. if you know selling will get a loss then don't sell now, sell when prices start to rise. it's time to buy and invest. business in bitcoin must be able to face the risks that will occur in order to get maximum results.

[Tavarez]

For sure they lost profit in 2018. The first quarter of 2018. they reported profits of $1.1 bln. However, its well-known competitor Nvidia provided documentation confirming their Q1 income being $1.2 bln.  So all people agree that the main reason for Bitmain’s financial losses is its investments in Bitcoin Cash, the asset, whose active supporter is Jihan Wu.