Zhan Ketuan will hold a press conference to release 5nm chips and mining machines. Will miners pay for them? (Bitmain Series 21)

Wu said blockchain learned that Zhan Ketuan will hold a press conference on September 17. The content of the press conference may be the release of the latest generation of 5nm chips and the explanation of shareholder disputes. Some miners have already received pre-sale information. Wu Jihan accused this of being a fraudulent act due to a broken capital chain.

Recently, some media received invitations from Zhan Ketuan: It is planned to hold a media communication meeting at 14:00 on September 17th, to synchronize the recent business progress, and also to respond to some controversial issues. Time: 2:00 pm on September 17th. Location: 7th floor, Building 20, Aobei Technology Park. The person in charge of the original mining machine sales has also been recalled to prepare for the press conference.

Wu said that some miners have recently received information from Zhan Ketuan about the sale of TSMC 5nm chip mining machines. Although the price and performance indicators have not been announced, it is stated that after receiving the advance payment, it can be delivered in January next year. The above-mentioned "business progress" should refer to 5nm chips and mining machines.

In December 2019, Wu said blockchain disclosed that Bitmain's 5nm mining machine test chip had been successfully taped out, which may be the world's first packaged 5nm test-level chip. An insider revealed to Wu said blockchain that Zhan Ketuan's announcement at this time should be an application-level 5nm chip, with actual performance indicators between 25J/T-30J/T. There are claims that this 5nm chip has been taped out, but multiple channels have confirmed that it has not been taped out.

Currently, miners who have received pre-sale invitations are generally hesitant about Wu Blockchain, for several reasons:

First, this is the first generation of 5nm mining machine products. Based on Bitmain’s past R&D experience, the first generation of new process products often have more problems. Taking 7nm as an example, there are even products like T17e that seriously damage the interests of miners. It was not until S19 that it became relatively stable. The outside world has great doubts about Bitmain’s R&D capabilities.

Second, the chip supply is currently in the hands of Hong Kong Bit controlled by Wu Jihan. Wu Jihan may set up obstacles and fight for control. It is still an unknown whether Zhan’s 5nm chip can be successfully taped out and mass-produced. The guarantee of delivery in January is even more questionable.

Third, 5nm production capacity is critical. TSMC’s 5nm production capacity will be supplied to major buyers such as Apple and Qualcomm first, and Bitmain has only a very small production capacity.

The reason why Zhan Ketuan released the 5nm product at this time is also very simple: first, he is short of money and needs to recover the funds to pay employee salaries, maintain the normal operation of the company, and pay legal fees, etc.

Second, the more important reason is that the production capacity of 7nm and 16nm chips will not be available in the next six months, so we can only test the 5nm production capacity. This is the only option, and it is also in line with Zhan Ketuan’s gambling style.

In addition to the release of 5nm chips, this press conference is expected to continue to attack Wu Jihan. Zhan Ketuan and Wu Jihan previously held their own shareholders' meetings, and Zhan launched a fierce attack, criticizing 1. Wu Jihan suffered huge losses when he managed the company alone, while he made a lot of profits when he managed the company; 2. Wu Jihan refused to negotiate; 3. Wu Jihan transferred company assets. Wu Jihan also made clarifications at the shareholders' meeting.

On the morning of the 9th, the Ant Pre-sale Public Account controlled by Wu Jihan posted a message saying:

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 based on the experience of BM1360 development and optimization, 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 nonsense. Please pay attention to the information and beware of being deceived. The release and delivery of the next generation of "Antminer" products will only be carried out through the official channels of Bitmain Group.

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