Before the head and co-owner of Bitmain Cihan Wu announced that the company is considering the withdrawal from the market of equipment for mining, as in its place immediately showed up two applicants.
Chinese Canaan Creative (Avalon Miners) and Zhejiang Ebang (Ebit Miners) have applied to the Hong Kong Stock Exchanger for approving applications for giant ICO’s worth of one billion dollars each for increasing the production capacity of ASIC chips.
Experts estimate the increase in the equipment market for mining at $ 1.2 billion per year, therefore, the new double offer will be redundant, which will inevitably lead to lower prices.
Bitmain, which removed the main cream from the market of ASIC-miners, moves to the segment of equipment for Artificial Intelligence. According to the founder of the company, Jihan Wu, this is logical for the manufacturer of high-speed chips. Bitmain’s competitors in this segment will again be Nvidia and AMD, which have already lost to the Chinese in the battle for the miners.