Bitmain places an order for 600,000 7nm mining chips

Mining giant Bitmain Technologies has placed an order to purchase 600,000 cryptocurrency mining chips.

An unnamed “supply chain employee close to TSMC,” said
about ordering at the end of this week. According to the publication, the order includes a batch of 7-nm chips with a hash rate of 50 Tx / s. Based on the hash of the chips, it is expected that the overall Bitmain hash capacity will increase by about 50% in six months if they are used for their own farms.

New chips can also bring Bitmain a profit of $ 1.2 billion, and the company’s value can reach approximately $ 12 billion. At the beginning of the month, it was reported that Bitmain losses for the first quarter of 2019 amounted to
$ 310 million. In addition, information appeared in May that Bitmain’s own power in Bitcoin mining was reduced
7 times a month.

In March, it became known that Bitmain investors are preparing
class action in connection with a failed
IPO of the company, the terms of which were repeatedly postponed. After the IPO application review deadline, Bitmain stated that “the IPO attempt made the company more transparent” and that in the future, the company will resume listing attempts on HKEx.