Bitmain, a power-efficient Bitcoin miner, might be losing its competitive advantage in the market in terms of technology. US headquartered investment research firm, Sanford C. Bernstein & Co. has published a report that makes the suggestion that the firm is lagging behind in the efficient production of cryptocurrency mining chips, reported Bloomberg.
Roadblocks speed-breaking Bitmain
“The competitiveness of Bitmain’s chips is in question,” the research analysts mentioned. Apart from technology, the Bitcoin miner is supposedly lagging behind in terms of competitors and the company’s finances.
Market rivalry from players like Canaan Inc. and Ebang International Holdings Inc., are reportedly keeping on its toes. Interest for the majority of the organizations’ products has gone underweight this year after a selloff in virtual monetary standards cut Bitcoin’s an incentive by the greater part.
The Beijing based company’s finances are also under the spotlight. Of late, it is a topic of discussion and some report has indicted some subtle elements of Bitmain’s business have been coursing web-based. This further stipulates that the organization’s base is getting shaken up.
Image via Shutterstock
Join our Telegram group