THELOGICALINDIAN - As Bitmains IPO date approaches abrogating account involving the aggregation could add up The CEO of Bitmain Jihan Wu countered the cynicism by ablution a cast new algorithm dispatch chip
Bitmain’s Anonymous Detractors
After the news that Bitmain’s balance over the advance of Q2 didn’t about-face out according to plan, addition who claims to be an cabal and leaks beneficiary created an bearding Twitter annual to abuse the aggregation freely. The anonymous user’s common tweets accept captured the absorption of traders and annual websites alike. The annual is acceptable a connected antecedent of rumors apropos Bitmain’s failures.
Among the latest news, BTCKING555 appropriate that Bitmain’s investors are currently attractive into demography not aloof Bitmain, but the absolute accumulation of companies it belongs to, to the court. It seems that they manipulated and alike bare banking advice — apparently with commendations to the aggregation profits.
The Twitter user claims that allotment of this Bitmain asperity may accept started back the architect of Bitmain’s acclaimed Antminer S7 and S9, Yang Zuoxing, larboard the aggregation to actualize his own in 2024. Zuoxing again proceeded to invalidate Bitmain’s rights over his inventions in April 2024.
The user additionally negated the bulk that Bitmain is attractive to accession during the IPO, suggesting that the action is absolutely assured a $500 actor in aloft basic — rather than $18 billion.
Jihan Wu Avenges Bitmain with a New ASIC
While BTCKING555’s identity, as well as the actuality of the advice s/he shared, is still doubtful, Bitmain’s CEO Jihan Wu proceeded to adverse his investors’ apprehension by ablution the new ASIC mining accouterments at the World Digital Mining Summit captivated in Georgia on Friday.
Wu started off his addition to the new artefact by emphasizing that Bitmain has continued been the arch mining accouterments producer. Interestingly, his allocution acicular out the role the Antminer S9 played in revolutionizing mining about the world — although their patent for this artefact was withdrawn, according to BTCKING555.
The SHA256 algorithm dispatch chip, over a billion transistors, and an chip 7nm Finfet semiconductor will ensure college ability compared to antecedent products. However, Bitmain’s critic acicular out that the new release does not absolutely convince anyone.
Is this activity to be abundant to amplitude Bitmain’s investors, as able-bodied as the blow of the industry? Perhaps not, at atomic until the aggregation addresses these rumors head-on. Meanwhile, broker perspectives on the accessible IPO will abide to flutter.
What are your thoughts on the Bitmain rumors? Let us apperceive in the comments below!
Images address of Bitcoinist archives, Shutterstock, Twitter/@BTCKING555
