The purchase aligns with TAAL's strategic goals to increase its transaction processing capacity to meet the demands of enterprise customers adopting blockchain technology.
With the purchase, TAAL confirms it will easily exceed operational guidance reported on April 30, 2021, anticipating winning at least 30 Bitcoin SV blocks per day attributed to TAAL, once deployed.
The firm entered into a sales agreement with strategic partner Bitmain Technologies Limited to buy a mix of its S19, S19 Pro, S19J, and S19J Pro Antminers hardware rigs.
Bitmain originally sued MicroBT and its CEO Yang Zuoxing in 2017 for infringing a patent that Bitmain was awarded for its technology used in designing an ASIC for Bitcoin mining.
The Taiwan New Taipei District Prosecutors Office is reported to have carried out inspections at seven office locations in Taiwan of companies linked to Bitmain.
Jihan Wu has officially resigned from Bitmain; the companies internal struggle for power has come to an end and Micree Zhan is official in control.
Over five digital currency companies have expressed interest in going public–experts warn that both equities and digital currency are in a bubble.
The company plans to use the proceeds from this recent capital raise to pay for the ASIC miners it ordered from Bitmain Technologies Inc.
Bitmain co-founders Jihan Wu and Micree Zhan reportedly reached a settlement that ends their messy long-running feud around who will control the blockchain giant.
Core Scientific is planning to increase current capacity by threefold by purchasing over 58,000 ASIC hardware miners from Bitmain.
Lawyers representing Bitmain Technologies disclosed at a recent court hearing that the ASIC mining hardware manufacturer recorded a loss of nearly $60 million in 2019.