Bitmain Eyes Launch Of Mining Machines For Privacy-Centric Blockchain

China-based Bitcoin mining technology company, Bitmain looks to launch mining machines for a proof-of-work blockchain, Aleo which looks to achieve privacy using zero-knowledge proofs. Without explicitly mentioning the launch timeline, the company disclosed the product as Antminer model, which is currently in the testnet phase.

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The Aleo project enables users to construct a blockchain network that prioritizes decentralization, scalability, and data privacy. Aleo users will be able to mine Aleo coins and contribute to the network’s growth and security. With the ZKP programming language - Leo - Aleo is the first blockchain privacy network providing full-stack programmability for developing privacy-focused applications on the Aleo network.

Aleo developers raised $200 million in its series B funding round in 2022. It was led by SoftBank Vision Fund 2 and Kora Management. Tiger Global, Andreessen Horowitz (a16z), Samsung Next, Slow Ventures and Sea Capital also participated in the funding round, The Block reports.

About Bitmain

In September 2023, Bitmain launched its latest Antminer S21 model and some miners like CleanSpark already expressed interest (purchased 4.4 exahashes per second of the S21 mining rigs) in purchasing the new machine. Last month, the company announced its plans to invest $54 million in bankrupt bitcoin mining firm Core Scientific.

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Bitmain is currently dealing by some liquidity issues, as indicated by delayed staff payments for September. 

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