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Let’s take a closer look at Bitmain’s announcement at #WDMS #miningconf for their “next gen” 7nm ASIC chips. To most people this may seem like a big deal and good news, but actually the announcement shows things aren’t looking too good for Bitmain. Read on. #BitmainIPO
For context, pre-Blockstream I was the COO at BTCC and running the exchange and mining business units.
First, the announcement is mostly hand wavy forward looking statements. Bitmain “will soon” mass produce it’s 7nm chips. When is soon? When will the actual miners be on sale?
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