Bitmain's Wu Jihan: New model T19 mining machine will be launched, and the flood season may usher in a bull market

At the 421 Flood Festival hosted by BitDeer, Bitmain Chairman and CEO Jihan Wu said that the 312 incident laid a very solid bottom and he did not believe that there would be a second bottom in the future. The upcoming flood season may usher in the next bull market.

Wu Jihan said that 312 laid a very solid bottom, and the market trading volume hit a new high during 312, indicating that many people were buying at the bottom during the plunge. At present, the leverage ratio of the entire market is still relatively low, and there is still ample room for leverage to drive the price of coins to rise.

Wu Jihan predicted that, similar to the halving of BCH and BSV, there will be a certain "festive atmosphere" when Bitcoin is halved, driving the price up, but there is no need to expect a booming bull market immediately. Users still need to take a long-term view of the crypto industry and investment and manage their own risks.

Regarding the upcoming flood season, Wu Jihan said that it may become an important factor in the start of the bull market after the halving. However, due to the combination of the flood season and the halving, the situation becomes very complicated, which is a mixed blessing for miners. It is expected that the computing power will drop by more than 20% after the halving.

Regarding Bitmain’s latest S19, Wu Jihan first humbly summarized Bitmain’s past technological development.

He said that Bitmain's technology has not always been leading, especially after the great success of S9, Jihan Wu and his personal assistant in charge of research and development, who were self-centered and set the wrong research and development direction. There were many complaints about Bitmain in the market, such as the high damage rate, poor stability, and especially the bad reputation of the T series.

Wu Jihan said that he hoped the market would give Bitmain another chance. In addition to the industry-leading performance, the S19 series has greatly improved stability and adaptability to harsh environments through a new R&D route and customer-centric approach. After-sales service will also undergo new changes.

Currently, Bitmain is selling and launching the S19Pro and S19, which have a performance of 29.5J/TH and are the world's first machines with an energy consumption ratio of less than 30. The S19 series was sold out immediately after it was released on the official website, and Jiang Zhuoer also said that he had already booked machines worth tens of millions of yuan. Wu Jihan also revealed in the live broadcast that the T19 series will also be launched. The T series is generally a simplified version of the S series, and the price is also cheaper.

Let’s review some of Wu Jihan’s views expressed this year:

In a live broadcast with Jiang Zhuoer on March 25:

Wu Jihan expressed optimism about the price of Bitcoin in 2020. There are two reasons. First, based on the experience of China and neighboring countries, the new coronavirus can be eradicated in about two months. Second, countries around the world are currently adopting extremely quantitative easing monetary policies.

Wu Jihan said that S19 can be mined for 3-4 years. In the past, Bitmain had ups and downs in technology research and development. When it was customer-centric, it did well, but when it was not, it was often arrogant and self-centered. "After the arrogance factor was eliminated, it immediately took the lead again." In the slow bull market, S19 can be mined for 3-4 years.

On the night of BCH halving on April 8:

Wu Jihan said that the impact of the epidemic on cryptocurrencies is mixed. The government has opened the floodgates, and hot money will flow into the cryptocurrency industry. However, finance is built on the real economy. If the epidemic continues, the real economy will be sluggish, and factories and transportation will not be able to start work, it will also affect the financial industry, including cryptocurrencies.