Shenma launches new mining machine: Why is the price of 31J/T 30,000 yuan so high?

At a press conference without leader Yang Zuoxing, Shenma produced a machine that was close to the level of Bitmain, but the price was 50% higher. The final competition will still depend on quality and production capacity.

On the morning of April 17, Shenma Miner held a recorded press conference and released the latest models of M30S++ with a performance of 31J/T and M30S+ with a performance of 34J/T. However, the main mass production and delivery is the M30S with a performance of 38J/T. For all M30 products, Shenma Miner promises a one-year warranty period.

In comparison, the newly released Antminer S19 has a slightly better performance of 29.5J/T. The price of Bitmain Antminer S19 Pro 110T is RMB 20,770, and the price of S19 95T is RMB 15,495. The delivery time is from 2020.05.11 to 2020.05.20.

Shenma has abandoned its previous cost-effectiveness route to a certain extent. The price of M30S++, which is comparable to S19 Pro, is as high as 30,000 yuan, and the price of M30S+, which is comparable to S19, is 20,000 yuan, which is 50% higher. When the prices were announced, miners said: It's too expensive!

Industry insiders said that such a high price was set because the production capacity and number of chips were extremely small, and it was more for marketing purposes, that is, to compete with Bitmain's Antminer S19 series, and the main shipments were still M30S.

The speaker at the Shenma conference was COO Chen Jianbing, who is relatively unfamiliar to the mining industry. Chen Jianbing was Yang Zuoxing's college classmate and was once in charge of Shenma's negotiations with Samsung chips. After Yang Zuoxing retreated behind the scenes due to a criminal case involving suspected occupational embezzlement, Chen Jianbing stepped forward. Yang Zuoxing is suspected to be still in charge of the company's R&D and technology after being released on bail pending trial.

Chen Jianbing emphasized the success of the M20 series in 2019. Such success is inseparable from the support of Samsung. Samsung officials also attended the recorded press conference. Samsung chips are not as good as TSMC in performance, but they can give Shenma a relative cost advantage.

In 2019, Shenma Mining Machines gained a large market share through price wars, but also pulled down the overall industry profits by acting as a catfish. Some industry insiders also said that Shenma actually did not make much money. In the face of the halving of Bitcoin, Shenma once again promoted it in a high-profile manner, and its pricing was obviously more focused on profits. Wu said that blockchain will continue to pay attention to the subsequent market reaction.