⛏ World's top crypto miner may be losing its edge, analysts say
Crypto mining giant Bitmain, who is also seeking for a Hong Kong IPO, may need to write down the value of its inventory as makers of rival cryptocurrency mining equipment catch up according to analysts led by Mark Li at Sanford C Bernstein & Co. The company is facing growing competition from players including Canaan and Ebang International Holdings, which are also pursuing IPOs in Hong Kong.
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