BitMain Expanding in South America with 2 New Antminer Distributors

The company is holding around 65 percent market share of Bitcoin mining devices.

Crypto mining hardware maker Bitmain on Tuesday has announced the appointment of two digital asset mining consulting firms – Fastblock and Bit5ive – as the official Antminer distributors in South America.

As per the agreement, Miami-based Bit5ive will be responsible for distributing Antminers in thirty countries in Latin and Central America along with the Caribbean, while Fastblock will be the primary distributor in Brazil.

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Mentioning the development, Irene Gao, Antminer sales director of NCSA, 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.”

A unicorn in the crypto industry

Based in China, Bitmain is the largest manufacturer of ASIC-based Bitcoin mining chips. It is also the only company making the seven nanometer-based mining chip, which is said to be very efficient.

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In September, the company added two new miners in its 7nm Antminer lineup. Both these machines are kept among the high and mid-range devices and are claimed to be very efficient from their predecessors.

“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,” Robert D. Collazo Jr, co-founder and chief executive of Bit5ive, said.

“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,” Bernardo Schucman, co-founder and CEO of Fastblock, added.

Meanwhile, the company also filed for an initial public offering (IPO) in the United States, after multiple failed attempts in Hong Kong.

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