Crypto mining hardware manufacturer BitMain is set to expand its activities in South America after it appointed two companies to conduct Antminer distribution in the region.
According to the announcement made on December 10, the company selected Fastblock and Bit5ive, which are crypto asset mining consulting firms to be its official distributors in South America.
The Agreement
According to the agreement, Bit5ive, a Miami-based firm, will distribute Antminers in 30 countries in both Latin and Central America including the Caribbean. Fastblock, on the other hand, will distribute the mining machines in entire Brazil.
Speaking about the development, Antminer sales director of NCSA Irene Gao, said:
“South America continues to be an important region for the cryptocurrency mining sector. Our collaboration with Fastblock and Bit5ive will help us to build on the relationships we have with the mining community on-the-ground and instill trust in the sales process of Antminers.”
The Leader in Crypto Mining
When it comes to crypto mining, the China-based BitMain leads the way. It’s the biggest producer of ASIC-based Bitcoin mining chips and the only manufacturer of the most efficient 7nM-based mining chip.
In September 2019, the company launched two new miners in the 7nM Antminer category. The machines are among the high and mid-range mining devices and considered very efficient compared to the previous devices.
Commenting about the machines, Bit5ive CEO and co-founder Robert D. Collazo Jr, said:
“The Bit5ive team looks forward to a close partnership with Bitmain. The official distributor license will help to strengthen the trust South American miners have in Antminer’s sales process.”
The Fastblock team was equally excited about the development, saying they will promise the best prices and quality mining services delivered by a great team.
“We are excited to be bringing our blockchain knowledge from managing over 20 mining plants since 2014 to Antminer customers in the region. We are also able to guarantee the best prices and have a highly skilled team that can advise on the most cost-effective solutions for any mining project,” said Bernardo Schucman, co-founder and CEO of Fastblock.
BitMain also hopes to conduct an Initial Public Offering (IPO) in the U.S., after similar attempts failed in Hong Kong.
Featured Image: Aretosystems.com