Is Bitmain lying about their new 7nm Bitcoin Mining ASIC?

Bitcoin Mining giant, Bitmain, made headlines on the World Digital Mining Summit held in Georgia on September 2018, when they announced the new 7nm ASIC Bitcoin miner. The new 7 nm miners by Bitmain would support 256 SHA based algorithms and provides greater hash capacity at a lower power consumption. The company claimed that they will be releasing the new miner to the public soon,

Now an exclusive report covered by Coinness, claims that they might have developed such a chip but it is far from production. According to the article by Coinness, they have less than ten ASIC chips and the company isn’t capable of mass producing it yet.

“I doubt they have more than ten 7nm chips at hand. Ten means zero in this business. They are far from mass-production.”, said a source anonymously to Coinness.

The anonymous source also mentioned that Bitmain’s competitor Innosilicon has a huge amount of headstart and the 7 nm is ready to go in the production. The miner by Innosilicon is said to be more power efficient than Bitmain’s. According to information leaked by an employee Innosilicon’s power consumption is around 44 J/T compared with Bitmain’s 42 J/T.

On June 2018, Japanese Mining giant GMO announced the world’s first 7 nm and said they would be releasing it to the public in October 2018. The new miner is known as GMO B2 miners. The company’s website currently claims the new 7nm miners are sold out.

The news comes after the planned IPO Bitmain, which would become the largest IPO in the cryptocurrency market. Bitmain’s IPO already suffered some controversy when their books revealed that they sold Bitcoins for Bitcoin Cash.

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