BITMAIN CLOSING

At first it was reported that BITMAIN was CLOSING operations at Texas but it seems that they are scaling down their staff, around 15 employees were laid off and only 5 remain.

Organizations like BITMAIN are one of the biggest threats to crypto and watching them go down is the mirror result of it, many may think how is this possible how is it possible to a millionaire company like BITMAIN will go down they are suppose to survive, and the answer is centralize, BITMAIN had so much Bitcoin Cash and hold to it, when price of BTC and BCH went down when BTC break the 6k mark down BITMAIN went down with it, its better for crypto to have small or medium hashing power around the world than just having 5 or 10 enormous amounts.
I'll keep an eye on BITMAIN news so I can do a follow up
Thanks for reading if you I like my post please feel free to leave a comment or upvote on Steemit

https://steemit.com/@cryptoxicate

Good Luck, Thanks

DISCLAIMER: The information Cryptoxicate.com or its media channels not limited to Twitter, Telegram, Discord, Instagram, Facebook, or any upgcomming social media platform or internet search engine results is not financial advice. This information is for informational and entertainment purposes only. Any information provided are only and simple thoughts and opinions, you must not follow any of this thoughts and look for a profesional financial advisor since we are not any type of advisors. Dont not get into crypto currencies since its a high risk investment if you do not have the proper guidance and any investment that you made is your own responsability and no one else.

---

Posted from my blog with SteemPress : https://cryptoxicate.com/bitmain-closing/

---