Bitcoin Price Analysis: Bitmain Downsizing, BTC Dec Gains May Prop Bulls

Latest Bitcoin News When Bitcoin was changing hands at around $8,000 apiece, Bitmain announced what it said would be the biggest data center in the US. After launch, the $500 million mining facility would employ 400 people from Rockdale. However, with falling BTC prices and the giant chip set manufacturer preparing for an IPO amid rumors of disastrous Q4 2018 reports, Bitmain is cutting back and construction at Rockdale has been put on hold. Read: Bitcoin (BTC) Whales Breach: Crypto Market Tumult Ahead? It is for this sole reason that Milam County Judge Steve Young is “very disappointed” because they had advertised this mega project for their constituents. According to a statement from Steve, Bitmain laid off all employees at the facility save two engineers and a PR specialist. Nevertheless, Steve continues, the company plans to forge ahead with a smaller facility despite free-falling digital asset prices and waning demand…

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