Bitmain unveils new strategies at Chengdu event
At a Chengdu event exclusive to Bitmain clients, the hardware giant revealed several new business strategies competition intensifies and the industry matures. Bitmain will replace its existing structure whereby its customers have to pay upfront for hardware with a tiered down payment structure that allows customers to pay just a fraction of the cost upfront. Bitmain are also rolling out a co-mining agreement targeted at mining farm owners and offering put options to customers who purchase large quantities of Antminer S17 Pro mining rigs.
Why it matters:
- Competition in the ASIC hardware market has been intensifying this year with Canaan raising funds and Bitmain losing market share. Bitmain's new strategies are a sign of firms having to seek new and innovative ways to capture market share.
- Bitmain introducing these new strategies may force other leading ASIC hardware seller to offer similar options to customers. We may see more financing options and customized customer agreements being offered from ASIC hardware designers in 2020
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