I have no doubt about this. I watched their order flows on my trading platform as I was constantly focusing on some Yield enhancement trades I work on. Their footprint is so obvious. They are not very clever or strategic in their order executions. First of all, most of these "Block Type" orders are on the platforms during the daylight hours in China. Second, they put very large "block sell" orders in at a price to insure that they are in "maker" order status. This allows them to execute at low to no fees. Obviously this means they must rely on a buyer to lift their resting offer. When these " on the offer orders" do not trade, they simply chase the market down and continually adjust their offer price lower. Always with the remainder of the un-executed volume of the original offer. I, and I'm sure many other experienced traders that are much larger than me, just wait and watch until these fools chase the market into resting bids well below where they started trying to sell. As soon as I see real bid side volume appear I just race in front of that and get long. 9 times out of 10 it's a free trade. Once Bitmain's large offer is executed, there is nothing but air on the offer side for $20, $50, sometimes $100 in upside price. Try it some time. You'll be amazed. I could literally retire off the terrible execution Bitmain employs, on one day of their sell orders. They waste $100's of thousands of dollars daily ( Nightly ) as a result of their amateur trading stupidity.