Bitmain, one of the leading Bitcoin-mining equipment manufacturers in the world, is yet to embrace partnership with crypto-mining firms Bit5ive and Fastblock to distribute Antminers to more than 30 countries in South America.
The news came after a study revealed that Bitmain’s share in the market fluctuated from 70% to 66% dating June to December 2019. Bitmain however, still controls the highest global hash rate since 2017.
With its market supremacy at risk, Bitman has decided to expand and strengthen its reach to South American regions to improve its sales, thus appointing Bit5ive and Fastblock as the company’s major distributors. As per the press release on Dec. 12, countries include Latin and Central America and the Caribbean, believing that Latin America is ideally becoming a paradise for Bitcoin miners.
Bit5ive has been providing primary cryptocurrency mining services since it had been founded in 2013. CEO Roberto Collazo shared that he is confident that his company’s partnership with Bitman would establish a strong bond with South American, thus resulting in development in sales. Meanwhile, Fastblock, a company supervising over 20 mining farms since 2014, would serve as Antminer’s exclusive supplier in Brazil.
2019 has been an unstable year for Bitmain, and the company is hoping that this expansion would turn its big wheel back on track, maintaining its dominance in the Bitcoin-mining industry.