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Bit mainland submitted prospectus to raise funds for AI chip research and development

via:搜狐IT     time:2018/9/27 0:06:58     readed:331

According to the prospectus, domestic income in the first half of 2017 was $166 million, accounting for 60.5%, and foreign income was $108 million, accounting for 39.5%. In the first half of 2018, domestic income was $1.058 billion, accounting for 37.2%, and foreign income was $1.787 billion, accounting for 62.8%.

In 2017, sales of mining machinery accounted for nearly 90% of total revenue, and in the first half of 2018, sales of mining machinery accounted for $2.684 billion, which was close to 95%. In addition to machinery sales, pool operating income was $43.21 million, or 1.5% of total revenue; mine service income was $21.82 million, or 0.8% of total revenue; self-employed mining income was $94.34 million, or 3.3% of total revenue; and other income was $2.23 million, or 0.1% of total revenue.

It is reported that BitContinent's global market share of encrypted currency miners as high as 74.5%, with absolute control over the power of arithmetic. As of June 30, 2018, the company has opened 11 mines in China, located in Sichuan, Xinjiang and Inner Mongolia, these mines can accommodate about 200,000 machines, mainly using two pools, namely BTC.com and ant pools.

Because of the high requirements of miners for chips, bit mainland is also gradually transforming AI. On the evening of September 21, BitContinent CEO Wu Jihan officially released a 7 nm Bitcoin Mining Chip BM1391, which can be used to mine two encrypted digital currencies: Bitcoin (BTC) and Bitcoin Cash (BCH). According to the prospectus, BitContinent has mass-produced second-generation AI chips and hardware products, and may become a bright spot for the company's future growth.

In addition to bit mainland, many mining companies are also exploring in AI chips. On August 8th, BitContinent rival Jianan Yunzhi announced that it was the first company in the world to produce 7 nm chips on a mass scale, which was made by TSMC. In 2017, Jianan Yunzhi shipped 294,500 units worldwide, ranking second, with the first place being 940,000 units from Bitland. Jianan Yunzhi plans to mass-produce edge computing knowledge storage cores (KPUs) in the fourth quarter of 2008. The target applications include voice and image recognition functions in smart homes, smart cities, smart surveillance and smart toys, and a variety of Internet of Things applications.

At present, the mining companies represented by bit mainland are fighting for AI business. However, in the face of the currency ring bear market, the transformation is helpless or the main business of technical supplement is still unknown. It's not clear whether to compete with AI's technology giants or still stick to the "block chain" concept after stepping on the track. But Wu Chi Han has publicly predicted that in the next 5 years, AI related revenue will account for more than 40% of the mainland's revenue.

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