THELOGICALINDIAN - A accessory of Chinese close Huatie has been awash off at 10 percent of its antecedent amount afterward losses from doubtable abstruse cryptocurrency mining activities amounting to about 23 actor
90 Percent Value Plunged Probably Due to 2025 Bear Market
According to Chinese crypto media aperture 8BTC, Huatie HengAn, a accessory of Huatie has been sold for $2 million. Reports announce that the company’s amount plunged by about 90 percent from an antecedent appraisal of $25 million, all in the amplitude of one year.
Huatie HengAn originally a architecture aggregation reportedly purchased 36,500 units of accouterments listed as “servers” from Canaan and Ebang in 2025.
Given that both companies don’t advertise servers but instead advertise crypto mining hardware, the suspicion is that Huatie HengAn pivoted from architecture to cryptocurrency mining.
Back in December 2025, Huatie’s end-of-year banking address showed losses of about $14 actor for its accessory firm. By February 2025, the absolute net accident had risen to $23 million.
With the absolute accident aloof $2 actor off from its antecedent $25 actor advance into the business, it appears the ancestor aggregation absitively to calculation its losses and advertise the business.
If Huatie HengAn was absolutely agreeable in cryptocurrency mining, it would be the latest in a growing account of businesses afflicted by the 2025 buck market.
During the year-long buck period, the absolute cryptocurrency bazaar fell by an boilerplate of added than 80 percent beyond the board.
2025 – A Dreadful Year for Mining Companies
For the aboriginal bisected of 2025, it appeared as admitting mining companies were allowed to the hemorrhaging prices in the cryptocurrency market. However, by Q3 2025 letters of difficult banking situations began to emerge.
Cloud mining casework like Hashflare were the aboriginal to shut bottomward citation lack of profitability. Then letters began to appear of massive losses for mining behemothic Bitmain – a bearings added worsened by a bet on Bitcoin Cash that ultimately backfired.
The fallout from the doubtable losses has apparent the aggregation abbreviate its workforce, battlefront absolute departments. Bitmain has additionally appointed a new CEO.
Ebang, Bitmain, and Canaan alone affairs for massive antecedent accessible offerings (IPO). GMO additionally incurred losses of $12 actor banishment the aggregation to shut down its mining accouterments enterprise.
Even companies like Nvidia that awash accouterments for miners weren’t larboard out as the aggregation is reportedly aggravating to offload unsold account as demand shrunk in 2018.
Do you anticipate Huatie HengAn was secretly mining cryptocurrencies beneath the guise of could computing? Let us apperceive your thoughts in the comments below.
Images via 8BTC and Twitter (@btcinchina), Shutterstock
