Bit, send internal letter: the future will be listed on the restart, is still the focus of hashrate chip

3 month 26 days, the daily planet Odaily exclusive, machine manufacturers, the world’s largest bit (BITMAIN) issued an internal letter, announced organizational restructuring, chaired by Wang Haichao CEO, Zhan G Group continued to serve as chairman of the company, Wu Jihan continue to serve as directors of the company. The letter revealed that the new CEO Wang Haichao has a number of departments in the bit, as a person in charge, in 2017 the company supply chain capacity expansion has made a significant contribution.

At the same time, a bit, said that the company has sufficient cash supply chain operation. With the introduction of new products, sales have increased month by month.

For the IPO application, pointed out, bit inside the letter, “will soon fail, the future will be at the right time, restart the listing”.

Last September 26th, the mainland bit to the HKEx to submit the prospectus, embarked on a road of listing in Hong kong.

At the time, the historical performance of bit still shine.

2017 at the end of the year, the price of bitcoin on the historical peak, also bring the 25 billion dollars a year in revenue for the station on the top selling machine bit, almost as NVIDIA semiconductor giant. This gratifying gains has been extended to the first half of 2018.

But benefit from mill bit in the mainland, will undoubtedly iterative mining chip as a lifeline. Bit, the prospectus shows that the first half of 2018, the processing fee and the cost of raw materials (mainly refers to a chip manufacturing and packaging costs) up to $1 billion 476 million, accounting for more than half of the first half of the income.

In this chip R & D capital and technology intensive areas, public financing will undoubtedly bring the necessary ammunition. Then, three vehicle manufacturers have to seek listing in Hong Kong, Chia Nan Yun Chi and Ebang international in May and June last year that submitted the prospectus, bit, in September.

The first half of the time in the manufacturers waiting for HKEx hearing, digital currency U-turn down, as mining infrastructure has undergone no small reshuffle. Jia Nan Yun Chi and Tianhe International applications has ended in failure. And also, bit in the bear market has experienced its clearing inventory, layoffs, high-level changes and other twists and turns, efforts to survive.

As of press time, a bit, to the HKEx submitted the prospectus is still in the state of “processing”. But from inside the letter “future restart the listing of the phrase”, we seem to see the answers listed in Hong kong.

The following is the full text of the letter inside:

Focus is digital chip, let the human world more beautiful!

You bit, respectable:

“Bit” bit, is the smallest unit of computer information said, is the cornerstone of constructing human digital world. Let the world more and more beautiful digital human, is a bit, start at the beginning of the vision.

On the occasion of the 5th anniversary bit, when we re-examine the company’s business, organizational structure and management mechanism, and make the corresponding adjustment of business: focusing on digital currency and artificial intelligent chip and the products and services; set up the ant machine, chip, AI is abundant, ore pool, BTC.COM, ant self stress and other business lines. Our decentralization of management authority, rapid response to changes in the market, better customer service. We will also chip, hardware and software of the R & D resources line all pull through, digital currency and artificial intelligence products after pull through R & D resources sharing. In this way, the project and product investment, delivery and quality to get better protection. At the same time, engineers can get more exercise and growth in different product lines.

The board of directors appointed Wang Haichao as chief executive of the company, Wang Haichao worked in a number of departments, the bit as a person in charge, in the process of the company in 2017 supply chain capacity is rapidly expanding, has made a significant contribution, outstanding work. Zhan G Group continued to serve as chairman of the company, Wu Jihan continue to serve as directors of the company. The two founders don’t forget the heart, and together, pull together in times of trouble, to grasp the strategic direction of the company.

In February, we released the second generation of 7Nm chip BM1397, low energy efficiency ratio to 30J/TH, compared with the previous generation products energy saving about 28.6%. Equipped with BM1397 S17 T17 and the new ant machine in production recently. The next generation of AI chip BM1684 is cast piece, equipped with this chip SA5 server will deliver to the market in the fourth quarter of this year. Compared with the BM1682 chip based on the SA3 server, the performance of SA5 will be several times to improve. At present, the mainstream manufacturers have artificial intelligence algorithms in our BM1682 and BM1880 chips ran through the algorithm and their application.

This round of IPO will soon apply for our failure. However, the listing process make the company more transparent and standardized. At present, the company has sufficient cash supply chain operation. With the introduction of new products, sales have increased month by month. The company has a strong talent pool, after the adjustment of R & D organization is more efficient, we must be able to develop more competitive products in the market. According to the Frost & Sullivan research shows that China has second bits is China and the world’s top ten Fabless IC design company. The future, we will be at the right time, restart the listing.

Over the past five years, the company accurately captures the digital currency and artificial intelligence of the two market opportunities, building up a solid chip design capability. The next 35 years, digital currency and block chain industry market space will be greater, artificial intelligence is also a huge market space. Two a huge market in the future 35 years together, high performance and low power computing power chip is their common foundation, and this is where our core competitiveness. We will concentrate all intentnesses, manpower, material and financial resources and cultural force in the digital currency and artificial intelligence in the two markets: focus is digital chip, let the human world more beautiful!

2019 is a bit, people support train, fight business a year. We have confidence in the future! Let us work together to create brilliant!


CEO: Wang Haichao

Co founder: Jake, Wu Jihan group

3 2019 26 day

(I was the author of the snow Jiao, pay attention to the mining, block chain, welcome to add WeChat AC hxjiapg, work post, please note Name)

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