Showing posts with label mining. Show all posts
Showing posts with label mining. Show all posts

Monday, September 17, 2018

Revolution in the field of mining

The monopolist of the mining market Bitmain is folds

Found a competitor-the firm Bitewei, which was founded by Yang Zosin, once a leading engineer Bitmain.
The monopolist of the mining market Bitmain is folds

Bitmain was at risk

Now Cosin controls BitWei Technology Co., Ltd. and intends to market (in conjunction with Pangolin) modern ASIC miner WhatsMiner M10 (M10 ShenMa) on the basis of 16нм-technoprogressive. His competence has already helped to optimize the performance of 16-nm chips WhatsMiner M10 so that the ergonomic performance they are not inferior to 7nm-processes.

"Bitmain then vaguely imagined what I was going to work on next, they were not aware of the details. These were next-generation designs that were different from anything I had created earlier, working on the S7 and S9. Probably, it is difficult to try to optimize, improve and implement other people's developments without knowing the original idea of the Creator. Technology is not static, it is constantly evolving. It is due to the fact that Bitmain was not able to realize this process in time, The company has not presented any competitive innovations in the field of mining since then," the developer said.

After zoxing left the giant company, He decided to start his own project.

"In order for the new company to reach the same scale and achieve the same impact as Bitmain, It will need to prove the performance of its business model and resistance against all the pitfalls of the market. It does not hurt and just luck. It is difficult to conquer the mining market, especially when there are only 4 million bitcoins left to be mined," said Obelisk Manager David Warwick.

However, Bitmain will not be so easy to win. The Chinese company still holds the palm. The world's largest manufacturer of equipment for the extraction of digital currencies after the pre-IPO reached a capitalization of $ 15 billion. This happened in August this year.

Mining Investors go to HDD Mining

Investors of the company were the largest co-owners of Uber-Japanese Softbank and Chinese IT giant Tencent. The latter is the developer of the popular platform in China WeChat. It has more than 1 billion users and is ahead of Facebook in terms of capitalization.

An IPO is due to take place soon, and the shares of the mining giant will be placed on the Hong Kong stock exchange. The company hopes to reach $ 30 billion. Earlier, representatives of Bitmain reported 1 billion net profit for the first quarter of this year. Earlier, the manufacturer completed a series b financing round, after which the company's value rose to $ 12 billion.