CoinDesk profiles Bitewei, a serious competitor in the cryptocurrency mining space

Bitewei is a new mining chip manufacturer founded by the former director of design at Bitmain. The company has raised $20m to develop mining chips that could rival Bitmain's products. According to Bitewei, its flagship product, the WhatsMiner M10, is 30% more efficient than Bitmain's leading product, the AntMiner S9 Hydro. Bitewei has received pre-orders for over 1,000 units of the WhatsMiner M10 at an average price of $1,600. (Source: CoinDesk)