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Bitmain Expands Distribution Reach to South America Amid Market Share Decline

By Daniel T. | December 14, 2019
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Bitmain – the world-leading crypto mining company from China – has taken the next step to grow its distribution channel in South America, via teaming up with 2 crypto mining consulting establishments. 

Specifically, the crypto mining heavyweight looks to expand its reach by collaborating with Fastblock – the distributing firm in charge of the Brazilian market – and Bit5ive, a company headquartered in Miami, which will handle the distributing work of Bitmain-developed Antminers to 30 nations across the Latin, Central America and the Caribbean region. 

Bit5ive offers facilitations for primary crypto mining-related activities – sells, hosts and supports crypto mining hardware. Robert Collazo – co-founder and current head of Bit5ive – revealed that the firm is legally authorized to distribute mining products in the South America region, and will be utilized by Bit5ive. 

Fastblock – a firm that has a 5-year expertise in offering mining consulting services – will provide its blockchain knowledge, coming from its experiences in supervising more than 20 plants, per Fastblock CEO and co-founder Bernardo Schucman.

The initiative was made at the time when numerous reports showed that Bitmain’s market share by hashrate has experienced a decline, going from 70% down to 66% in 6 months (Jun-Dec 2019). 

Bitmain, however, has published its own numbers, claiming to still possess 65% of the worldwide crypto hardware market, as of 2017.

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