Sun Yanlong: Ethereum mining is gaining popularity again, and we will focus on deploying Ethereum GPU mining machines

From September 13 to 16, a four-day closed-door meeting of POW industry leaders was successfully held in Wenzhou. The meeting was jointly hosted by Miner Dad and CoinWise, and co-organized by CCFOX, BTC.com, Martrixport, Shenma Miner, and Langshen Miner, and received strong support from many leading companies such as BitExpress, Panda Miner, Spider Mining Pool, Delixi Electric, Wanwei Electric, Fengxiang Ruihai, Hongxin Technology, Sanbian Technology, Xiangbo Machinery, and Jiejie Mining.

During the meeting, Sun Yanlong, founder of Hongxin Technology, accepted an interview with the media. The following is the transcript of the interview (organized based on the recording):

Interstellar Vision: Please briefly introduce Hongxin Technology?

Sun Yanlong: Hongxin Technology was founded in 2017 and is located in SEG, Huaqiangbei, Shenzhen. In 2017, we mainly engaged in domestic and foreign import and export trade. At that time, there were very few mining companies in SEG, but now there are hundreds of them.

We do business in Malaysia, Iran, Russia, and other countries, mainly Russia, because foreign countries still attach great importance to the digital currency industry. At that time, there were only a few people working in this industry. I learned about this circle through my brother. It grew rapidly in 2017. I learned about the hot spots in the foreign market and accumulated some resources from manufacturers, and gradually entered the foreign market.

Interstellar Vision: Digital mining has been around for ten years now. After all this time, especially the reduction in Bitcoin production in the first half of this year, what do you think? What new strategic plans does Hongxin Technology have?

Sun Yanlong: Under the market situation of reduced production, the price of mining machines is also affected, and the profits of miners and mining companies will be greatly reduced. As the payback period of Bitcoin mining machines is getting longer and longer, the popularity of Ethereum mining is increasing, so the focus will be on deploying Ethereum graphics card mining machines.

Interstellar Vision: In late July, the U.S. federal court stated that Bitcoin is defined as a "currency" under Washington law. Bitcoin has once again surpassed the $10,000 mark, and other digital currencies have also risen. How do you view the current market situation? What impact does it have on your company?

Sun Yanlong: The impact on our trading company is relatively large. The impact of this year's epidemic has made it impossible to move forward. Many mining companies have been closed one after another. The companies that have survived are basically those that have been in business for a long time and have relatively mature industrial chains.