Bitmain's revenue in the first four months exceeded US$300 million, AI business grew rapidly, and employees received tens of millions in bonuses

Wu said blockchain learned that before May Day, Bitmain announced internally that the company's revenue in the first four months of 2020 exceeded 300 million US dollars, and its AI business grew rapidly, bringing economic and social benefits, and even started to do "bird protection". In addition, a special May Day bonus totaling tens of millions will be issued to employees.

Bitmain pointed out that from January to April 2020, it returned to a customer-centric sales and marketing strategy, achieved revenue of more than US$300 million, and regained market share. Four mining farms around the world started construction/renovation; the absolute value of computing power of two mining pools increased.

Comment: In the first quarter, due to the epidemic and holidays, S19 did not start shipping. The fact that China Mobile was able to achieve revenue of more than 300 million US dollars really surprised the industry. Does it show that the "three axes" of sales have begun to work? Or is it that when the mining industry is in a downturn, the full ecological layout can bring more stable revenue? In contrast, another mining machine manufacturer said that its revenue in the first quarter was no less than 60 million yuan.

Bitmain emphasized that the AI ​​business began to develop rapidly after adjusting its structure, creating economic and social value in the fields of smart communities, safe cities, new retail, and animal protection. The third-generation cloud AI chip BM1684 was mass-produced and shipped, achieving breakthroughs for many major customers, and received the final payment of orders worth tens of millions. The fourth-generation cloud AI chip BM1686 is also being upgraded and planned, and its competitiveness will be greatly improved. But in the future, we will never "build cars behind closed doors and think we are the best in the world."

Interestingly, there is also an emphasis on developing software for image recognition and counting of rare birds, which can identify specific birds (such as the red-crowned crane) and assist wildlife conservation departments in targeted counting and protection measures.

Comment: This shows that the AI ​​business has not been abandoned after the change of leadership. On the contrary, it still relies heavily on AI chips, but it is more respectful of market rules and "starting from customer needs." In the past, Bitmain's AI chip business was too big, almost trying to build a "small Huawei", which is definitely not feasible.

Finally, Bitmain also announced that it will give a May Day bonus to all employees, capped at 70,000 yuan per person.