Mining

Bitmain plans to unveil mining rigs for Aleo blockchain

The biggest bitcoin mining rigs producer Bitmain plans to launch mining machines for Aleo, a proof-of-work blockchain that goals to realize privateness utilizing zero-knowledge proofs.

The China-based agency introduced in a publish on the social media platform WeChat that it deliberate to roll out an ‘Antminer’ mannequin for Aleo, which is within the testnet part.

The builders of Aleo final yr raised $200 million in its sequence B funding spherical co-led by SoftBank Imaginative and prescient Fund 2 and Kora Administration. Tiger International, Andreessen Horowitz (a16z), Samsung Subsequent, Sluggish Ventures and Sea Capital additionally participated within the funding spherical.

Bitmain didn’t disclose the timeline of the launch within the assertion.

The deliberate launch of recent Aleo-based miners comes after Bitmain earlier this month drew public consideration for its inner announcement to delay workers funds for September amid reported money move points. The corporate has repaid the wages, in accordance with crypto reporter Colin Wu.

Nonetheless the agency has made progress in different areas. In September, Bitmain launched its newest Antminer S21 mannequin, and a few miners have already expressed curiosity in buying the brand new machine. For instance, CleanSpark, a Nasdaq-listed American bitcoin miner, stated that it has bought 4.4 exahashes per second of the S21 mining rigs.

Bitmain has additionally introduced plans to take a position $54 million in bankrupt bitcoin mining agency Core Scientific. Bitmain designs and manufactures application-specific built-in circuit (ASIC) chips for bitcoin mining and operates one of many largest cryptocurrency mining swimming pools worldwide often called Antpool.

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