Bitmain Bringing More Transparency To The Table

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According to a blog post directly from Bitmain themselves, they have released a transparency policy for shipping and mining practices. This was an extremely smart step for Bitmain, because as their company grows, it will be important to have high ethical standards and practices. This is going to set the pace and standard for other mining hardware manufacturers.

Bitmain: “To put it plainly, we believe that communities served by Bitmain and its products should be supported and served as transparently as possible. Recent measures have included restricting order quantities, ensuring a first-paid-first-ship order of fulfillment, blocking IPs that we suspect to be hoarding, and publishing detailed shipping updates openly.”

Every thirty days Bitmain plans to publish data that advises community members which algorithms they are currently mining for themselves, and the total hash rate of all their owned mining hardware on the separate algorithms. A link to the monthly reports is on Bitmain’s blog post linked at the bottom.

 

Another ethical facet Bitmain is embarking on, is a zero tolerance policy for mining secretly on newly manufactured hardware previous to sale. Bitmain claims that there have been false accusations and there new transparency policies will confirm that.

 

These are only some of the steps Bitmain is taking to reach out to the community and provide them with respect and a great level of trust. After all, as the mining hardware giant, we need them to be as trustworthy as possible. They are leading the ASIC mining economy as we know it.

 

Link to official Bitmain blog post: https://blog.bitmain.com/en/transparency-policy-shipping-mining-practices/?utm_source=twitter&utm_medium=social&utm_campaign=transparency-disclosure-25072018

 

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