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Company Directory - Bitmain Technologies Ltd.

Company Details - Bitmain Technologies Ltd.

Bitmain Technologies Ltd. Logo

Bitmain Technologies Ltd.

Website

Beijing, China

Bitmain is a leading manufacturer of ASIC (Application-Specific Integrated Circuit) miners and is heavily involved in the cryptocurrency mining industry. They provide mining hardware, solutions, and services for operations ranging from individual miners to large-scale mining farms, making them a significant player in the sector.

CCI Score

CCI Score: Bitmain Technologies Ltd.

-39.14

0.17%

Latest Event

Bitmain Hardware Featured in HIVE's Paraguay Expansion

The article reports that HIVE Digital Technologies is advancing its debt-free expansion in Paraguay by deploying new-generation ASIC miners, including Bitmain S21+ units. This marks a significant business order for Bitmain, as its technology is chosen to support HIVE’s aim to increase its operational capacity and efficiency.

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TOADIE

Bitmain Technologies Ltd. is currently rated as a Toadie.

-30 to -44 CCI Score
Companies scoring in this range actively seek to please authoritarian regimes. They offer proactive support and assistance in exchange for preferential treatment, compromising ethical standards for business gains and political favor.

Latest Events

  • Bitmain Hardware Featured in HIVE's Paraguay Expansion Logo
    MAY
    05
    2025

    The article reports that HIVE Digital Technologies is advancing its debt-free expansion in Paraguay by deploying new-generation ASIC miners, including Bitmain S21+ units. This marks a significant business order for Bitmain, as its technology is chosen to support HIVE’s aim to increase its operational capacity and efficiency.

  • Seizure of Bitmain Mining Equipment Disrupts U.S. Supply Chain Logo
    FEB
    14
    2025

    U.S. Customs officials seized shipments of Bitmain's ASIC mining equipment on February 14, 2025 amid alleged compliance issues and regulatory scrutiny, disrupting the supply chain for U.S. bitcoin miners and raising concerns over import practices.

  • -40

    Supply Chain Ethics

    May 5

    The seizure of equipment indicates potential shortcomings in Bitmain's supply chain ethics and compliance with import regulations. This lapse in business practices disrupts the supply chain for U.S. bitcoin miners and reflects negatively on the company’s ethical responsibility.

    Bitmain Equipment Seized: U.S. Bitcoin Mining Supply Chain Disrupted – Business Sandesh

  • US Customs Scrutiny Delays Bitmain Shipments Amid Affiliate Blacklisting Logo
    FEB
    13
    2025

    Heightened inspections by US Customs and Border Protection, triggered by the blacklisting of Bitmain’s AI affiliate for alleged efforts to advance Beijing's indigenous chip production, have delayed shipments of bitcoin mining hardware. These delays complicate the competitiveness of US crypto miners in an already tense trade environment.

  • -40

    Public and Political Behavior

    May 5

    The intensified CBP inspections reflect US suspicion over Bitmain’s connection to its AI affiliate, which has been accused of furthering state-driven chip production objectives. This association raises concerns about potential alignment with authoritarian practices, impacting the political landscape.

    U.S. Bitcoin miners disrupted by Chinese supplier under scrutiny

  • -20

    Economic and Structural Influence

    May 5

    The shipment delays and increased tariffs, as part of broader US trade tensions, disrupt the supply chain and economic stability of US bitcoin miners. This scenario underscores economic friction that, intentionally or not, supports protectionist measures commonly associated with authoritarian economic policies.

    U.S. Bitcoin miners disrupted by Chinese supplier under scrutiny

  • US Customs Blocks Bitmain Shipments Over Supply Chain Concerns Logo
    NOV
    26
    2024

    US Customs and reportedly the FCC have blocked shipments of Bitmain's Antminer S21 and T21 series. The blockage appears linked to the use of chips manufactured by Sophgo, a supplier under investigation for potential U.S. sanctions violations related to Huawei, raising concerns about Bitmain's supply chain ethics and its potential entanglement in broader geopolitical and ethical issues.

  • -40

    Supply Chain Ethics

    May 5

    Bitmain’s reliance on Sophgo-produced chips, which are under investigation for allegedly violating U.S. sanctions and possibly facilitating repressive technologies, underscores problematic supply chain practices. This event not only disrupts Bitmain's operations through enforced shipment blocks but also raises ethical concerns about inadvertent complicity in technologies linked to authoritarian practices.

    US Ports Block Chinese Bitcoin Mining Machines From Bitmain

  • Bitmain Faces Political and National Security Scrutiny Amid U.S. Pressure Logo
    AUG
    26
    2024

    Amid rising U.S. political tensions and national security concerns, Bitmain Technologies Ltd.'s mining equipment—central to global Bitcoin mining—has come under scrutiny. Concerns center on the potential for such technology to be exploited for espionage, a charge amplified by the company's ties to China and their silence in addressing these issues.

  • -20

    Public and Political Behavior

    May 5

    Bitmain’s non-response to inquiries amid heightened scrutiny contributes to a perception of passivity in politically sensitive circumstances. Their reticence, combined with their deep ties to a regime with authoritarian tendencies, exacerbates concerns about indirect support for such practices.

    Trump’s ‘Made in USA’ Bitcoin Threatens China Juggernaut Bitmain’s Reign

  • -40

    Provision of Repressive Technologies

    May 5

    Bitmain's technology has sparked concerns over its potential for misuse in espionage and surveillance, raising alarms that its products could indirectly support authoritarian practices. This issue is compounded by sustained U.S. political scrutiny over the security risks tied to foreign-manufactured equipment.

    Trump’s ‘Made in USA’ Bitcoin Threatens China Juggernaut Bitmain’s Reign

  • Bitmain's Routing Through Communist Party-Linked Subsidiary Raises National Security Concerns Logo
    OCT
    13
    2023

    Bitmain has been routing its U.S. exports through its subsidiary, Hainan Bitmain Technologies, which is registered at a Communist Party guesthouse. This arrangement has attracted national security scrutiny as it raises concerns about potential intelligence collection and obfuscation of the company’s true operational ties.

  • -50

    Public and Political Behavior

    May 5

    Routing exports through a subsidiary with a Communist Party-associated address signals possible attempts to blur state influence and raises significant national security concerns. This maneuver could facilitate full-spectrum intelligence collection operations, aligning with authoritarian practices that undermine transparency and trust.

    Across U.S., Chinese Bitcoin Mines Draw National Security Scrutiny

  • Bitmain Fined Over Tax Violations Logo
    APR
    04
    2023

    Chinese authorities fined Bitmain's Beijing unit approximately 25 million yuan for failing to pay personal income taxes on employee salaries, bonuses, labor dividends, and allowances, following an earlier notice in August 2022. The fine highlights issues in the company's ethical business practices and regulatory compliance.

  • -50

    Business Practices and Ethical Responsibility

    May 5

    The fine imposed by the Beijing Municipal Office of the State Administration of Taxation for failing to remit personal income tax payments demonstrates unethical business practices. This violation not only breaches regulatory standards but also undermines the financial rights of employees by impacting taxation on their salaries, bonuses, and allowances, reflecting a disregard for ethical responsibility in business conduct.

    China fines Bitcoin mining firm Bitmain over tax violations

  • Bitmain Fined for Tax Violations Affecting Employee Benefits Logo
    APR
    04
    2023

    Bitmain Technologies Ltd. was fined approximately 25 million Chinese yuan (about $3.7 million) by Chinese authorities on April 4, 2023, for allegedly violating tax regulations by failing to report and pay the personal income taxes on its employees' salaries, bonuses, labor dividends, and allowances.

  • -70

    Labor Relations and Human Rights Practices

    May 5

    Bitmain's failure to remit and report taxes properly on employee earnings undermines worker rights and shifts fiscal responsibilities away from the state, weakening the social contract that supports marginalized communities. The violation reflects unethical business practices by depriving public resources that fund essential services, which is particularly concerning in the context of ensuring fair labor conditions.

    Bitmain Fined About $3.7 Million for Tax Violations in China

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