Bitmain may be affected if Bitcoin’s price falls post-halving

Crypto-mining equipment manufacturing firm, Bitmain, has been all over the news following the controversial change in its management. It made headlines after Co-founder Jihan Wu took over as CEO, with Micree Zhan ousted from the company. Bobby Ong, Co-founder of CoinGecko, spoke about the same and the Bitcoin halving after he appeared in a recent interview.

The price of Bitcoin seems to be contradicting the industry’s expectation of the price shooting up, months before and after the halving. While the block rewards for Bitcoin miners would be cut by half after the halving, the price should have ideally surged, Ong said. However, since that did not happen, it put a lot of miners in a frenzy. While several miners were looking forward to selling more hardware machines, Bitcoin’s price did not support the same, Ong added. Further, he pointed out that if the king coin’s price doesn’t increase next year, mining giants like Bitmain and Canaan would probably be in…