Bitmain, the world's largest cryptocurrency mining firm, is expanding its distribution in Southward America by partnering with two crypto mining consulting firms.

The Chinese mining mogul will extend its global exposure with Fastblock, which will be the master distributor in Brazil, and Bit5ive, a Miami-based house that will exist distributing Antminers to over xxx countries in Latin, Central America and the Caribbean area, Bitmain announced December. 12.

Quick have on Bitmain's new distributors

Bit5ive provides major crypto mining services — sells, hosts and supports crypto mining hardware — since its foundation in 2022. The company will exist distributing Bitmain'southward products using the official distributor license in South America, Bit5ive's CEO and co-founder Robert Collazo noted.

Fastblock, which has been providing mining consulting services since 2022, intends to bring its blockchain expertise from managing over 20 mining plants, according to the house's CEO and co-founder Bernardo Schucman.

Antonio Oliveira, senior vice president and CTO at Bit5ive, declined to comment on the numbers or client purchase regions in an email to Cointelegraph.

Fastblock hasn't responded to Cointelegraph'south attempts to reach out at the time of publication. This article will be updated pending any new information.

Bitmain's marketplace share by hashrate reportedly dropped from 75% to 66%

The news comes amongst new reports revealing that Bitmain's market share by hashrate has dropped from around 70% to 66% from June to early on December 2022. The data comes from the study "The Bitcoin Mining Network" by London-based digital asset managing director CoinShares shared with Cointelegraph Dec. 12.

Meanwhile, Bitmain's own estimations claim that the company'south market share accounted for 75% of the global crypto hardware marketplace as of 2022, the report notes.

While the Chinese giant'south dominance over crypto mining marketplace has slipped since 2022, the overall trend of growth in Cathay has continued. As reported by Cointelegraph, Chinese Bitcoin miners at present control equally much as 66% of global hash rate, which is the highest recorded past CoinShares since the house started monitoring the mensurate in 2022.