Clarification of the pre-sale rumors of the new 5nm Antminer

Dear Antminer users:

Recently, Bitmain Group has noticed that Zhan Ketuan has arbitrarily released pre-sale information of 5nm new machines in the name of Beijing Bitmain Technology Co., Ltd. However, the 5nm product is still in the research and development verification stage and is not ready for market launch in the short term. In order to prevent customers from being deceived, Bitmain Group hereby declares.

Bitmain Group has always adhered to the basic principle of customer interests first. Each new generation of mining machine chips will be launched to the market after a long period of polishing and maturity, providing customers with high-quality, high-reliability and high-performance mining machines. It is also based on this principle that the "Antminer" brand has been recognized and sought after by the market. This hard-won reputation has always been regarded as one of the most core assets of Bitmain Group. 5nm is the latest chip production process. A large number of new technologies need to be matched with new architectures. The mining machine chips developed based on this process require a lot of detailed and complete design and verification work. Therefore, although the R&D cost is high, Bitmain's first generation of experimental 5nm products BM1360 chips are only used for internal verification to solve the performance and reliability problems brought about by new processes, new technologies and new architectures, and there is no plan to release or sell them to the market. Any sales behavior that ignores or even sacrifices customer interests for the purpose of earning short-term cash flow will not only cause customers to receive mining machines with unstable quality and unreliable operation and suffer economic losses, but will also cause great harm to the "Antminer" brand that the market and customers have always trusted. Bitmain Group cannot tolerate crossing this bottom line.

Some of the group's subsidiaries, including Beijing Bitmain Technology Co., Ltd., are unable to operate normally and are even facing a capital chain break due to being hijacked by Zhan Ketuan. The further development of 5nm products still requires a large amount of investment. Zhan Ketuan may not have the financial strength to continue research and development at this stage. The release of pre-sale information for immature products at this time is likely to be just for the purpose of gathering funds.

Bitmain Group has stated many times and through various channels that Zhan Ketuan has been relieved of all his previous positions in Beijing Bitmain Technology Co., Ltd. and its affiliated companies, and is no longer qualified to serve as the legal representative of any subsidiary of Bitmain Group, and has no right to sign agreements or conduct business cooperation on behalf of any subsidiary of Bitmain Group. This is already known to the industry. The various agreements signed by Zhan Ketuan on behalf of the group's subsidiaries without authorization have major disputes over their legal validity, and the relevant entities will find it difficult to assume obligations such as product delivery or pre-sale payment refunds in the future. Once the advance payment is paid to Beijing Bitmain Technology Co., Ltd., Fujian Zhanhua Intelligent Technology Co., Ltd. and similar entities that Zhan Ketuan still illegally controls, it is likely that all the money will be lost.

The first generation of commercial 5nm chip BM1362, which is optimized and iterated based on the development experience of BM1360, is still under verification. Test chips have not yet been obtained, and tape-out has not yet been completed. Any recent promise to deliver mining machine products based on BM1362 chips is even more nonsense. Please pay attention to the information and beware of being deceived. In the future, the release and delivery of the new generation of "Ant Miner" products will only be carried out through the official channels of Bitmain Group. For any release/sale plan of "Ant Miner", please visit the only official website: shop.bitmain.com for the latest information.

Antminer Sales Team

September 9, 2020