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Marathon Patent Group Purchases Additional 10,000 S19 Pro Miners from Bitmain

Bitmain – the world’s leading producer of cryptocurrency mining hardware announces that it has signed another purchase contract with Marathon Patent Group, Inc. (“Marathon”), the largest Bitcoin Self-Mining companies in North America for the purchase of an additional 10,000 next-generation Antminer S19 Pro Miners. With the purchase of 10,500 S19 pro miners in August and other deals earlier in the year, Marathon has by far bought a total of 22,660 Bitmain S19 pro miners this year.

500 S19 Pro Miners will be delivered to Marathon in November this year and beginning in 2021, thousands of S19 pro Miners will be shipped and deployed every month up until June. Marathon is looking at a total hash rate of 2.57 EH/s once all these 22,660 Antminers are in place.

“This collaboration continues to strengthen our cooperation and will extend to future work together as Marathon expands its presence. It is also another strong endorsement for Bitmain’s next-generation S19 Pro Antminers, which houses the most advanced chipset and impressive power efficiency of 29.5±%5 J/TH. We are glad to close another significant deal in North America and keen to enable more customers to boost mining capacity with an efficient approach.” said Irene Gao, Antminer Sales Director of NCSA Region, Bitmain.

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Bitmain Closed another Antminer Deal with Riot Blockchain, adding up to a total of 20,000+ miners Purchase within a year

Bitmain – the world’s leading producer of cryptocurrency mining hardware announces that on top of the recent 5,100 Antminers deal and 8,000 Antminers purchase last month, Riot Blockchain, a Nasdaq-listed cryptocurrency mining company signed another purchase deal of 2,500 Antminer S19 Pro (110 TH), scheduled for receipt and deployment in December this year. In total, Riot has purchased 22,640 Bitmain miners within a year.

“This year has witnessed a significant expansion of our partnership with Riot. Overall, Riot purchased over 20,000 Antminers from us within this year. We are glad to accompany and support their growth across North America and becoming one of the top players in the market. This continuously growing partnership is also another strong proof of our industry-leading Antminers S19 Pro, which features a remarkable hash rate of 110 TH/s with an energy efficiency of 29.5±% 5 (J/TH). ” said Irene Gao, Antminer Sales Director of NCSA Region, Bitmain.

Last month, Riot just signed a deal of 8,000 Bitmain S19 Pro Antminers and another 5,100 two weeks ago. Starting from a 4,000 S17 Pro deal in this February, 20,140 Bitmain miners have been purchased by Riot within a year.

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Bitmain Signs Another Cooperation Agreement for Data Center and Custody Services with KASH PARTNERS

Bitmain – the world’s leading producer of cryptocurrency mining hardware, announces the signing of a new cooperation agreement between Bitmain Supercomputing Center Research Institute (BSCI) and KASH PARTNERS.

KASH PARTNERS is one of the largest cryptocurrency mining companies in Korea. The company plans to invest 10 million US dollars with stable income activities such as domestic construction of data centers, mining hardware acquisition, and custody services. By providing the most advanced mining hardware at present, the Antminer S19 Pro. Bitmain will support KASH PARTNERS with achieving their goal of a 30MW facility that can operate nearly 10,000 units of the most advanced miners.

“KASH PARTNERS has been a longtime friend of ours. We would be more than happy to broaden our cooperation and deepen the partnership that we have together. With the full deployment of the 30MW facility, we are paving the way for their goal of a 50MW facility. This will be a milestone for both Bitmain and KASH PARTNERS”, said Jelly Fan, Director of BSCI, Bitmain.

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Forge Ahead with Determination

A Review on Bitmain’s H1 2020

The year 2020 has seen strong turbulence in global markets and industries. In such a time of uncertainty, Bitmain continues to deepen its strengths with industry-leading chip R&D advantage, launch superior products that reset the industry standards. Meanwhile, through its leading experience and expertise, Bitmain keeps on completing its business ecosystem deployment centered on “hash rate” by launching new businesses and services in the hope to drive the development and upgrade of the entire market.

New Product to Drive Industry Standards: Breaking Record Highs Again with the Antminer 19 Series

Antminer 19 Series (Antminer S19 Pro, S19, T19)

In the past few months, Bitmain has once again proved its strong R&D capability through the launch of its record-breaking Antminer 19 Series, which delivers an impressive performance in the global market.

Antminer S19 Pro, S19

On 27 February, Bitmain officially announced the Antminer S19 and S19 Pro. Equipped with a custom-built 7nm chip from Bitmain and enhanced circuit architecture, the Antminer S19 series reset the industry standards with record-breaking power efficiency. The Antminer S19 Pro features a hash rate of 110 TH/s, and an impressive power efficiency of 29.5±%5 J/TH. The Antminer S19 is equipped with a hash rate of 95 TH/s, and power efficiency of 34.5±%5 J/TH. S19 Pro and S19 strongly proved Bitmain’s outstanding innovation capability and position as a leader in the market.

Antminer T19

On June 1st, Bitmain launched the Antminer T19, which is housed with the same generation of custom-built chips found in the Antminer S19 and S19 Pro. Utilizing the new APW12 power supply and upgraded firmware, the T19 offers faster start-up speeds for an optimized mining experience. The T19 is equipped with a hash rate of 84 TH/s ± 3% and has a power efficiency of 37.5 J/TH ± 5%. Comparing with the previous Antminer T17, the T19 greatly improves performance, allowing miners to achieve better efficiency and earnings.

Antminer Z15

Antminer Z15

On May 7th, Bitmain launched the Antminer Z15, featuring a hash rate of 420 KSol/s, and 1510 W power consumption. This is the 3rd generation of Bitmain’s Equihash algorithm miner, which is used for mining ZEC (Zcash) and other cryptocurrencies under Equihash mining. Antminer Z11 was the model with the highest hash rate in the market before Z15, which has made significant improvement on both hash rate and power efficiency.

New Deals to Support Growth Globally: Avoid Potential Shortage through Long-Term Deals

In the past few months, Bitmain has announced multiple purchase deals of millions of USD. Through these long-term deals, Bitmain has built strategic relations with customers while ensuring a stable supply cycle.

On June 27th, the leading blockchain hosting provider Core Scientific announced that it has again partnered with Bitmain to facilitate the purchase of 17,595 units of the Antminer 19 Series. Before that, Core Scientific cooperated with Bitmain to bring the very first Antminer Training Academy to North America last year.

The Nasdaq-listed cryptocurrency mining company Marathon Patent Group announced on August 14th that it has entered into a Long-Term Purchase Contract with Bitmain for the purchase of 10,500 next-generation Antminer S19 Pro ASIC Miners. It is expected that the total 13,520 Antminers will be generating 1.55 Exahash upon full installation.

On August 18th, Riot Blockchain announced a new milestone purchase of 8,000 Antminer S19 Pros from Bitmain with delivery starting January 2021 and continuing through April 2021 until the order is complete. Until then, Riot Blockchain has purchased over 20,140 Antminers from Bitmain within a year.

New Services to Raise Industry Standards: Comprehensively Improved Customer Experiences

Since the beginning of the year, Bitmain launched a series of new offerings, aiming to advance customer experience from all perspectives.

Bitmain Supercomputing Center Research Institute (BSCI)

Bitmain Supercomputing Center Research Institute

Bitmain announced the establishment of the Bitmain Supercomputing Center Research Institute (BSCI) in April. BSCI aims to provide customers with one-stop services on supercomputing centers, from introductory consulting, investment construction, and quality upgrades. It will provide a “turnkey” service for supercomputing centers, which includes standardized design and evaluation of the center, engineering management and consulting, and operation of the supercomputing center.

Hash Guard

Bitmain’s Hash Guard Capabilities

Earlier this year, Bitmain launched the service “Hash Guard”, to provide high-standard maintenance and repair services that set standards for the market. Originally, Hash Guard was a miner operation and repair team established by Bitmain Group in 2014. After five years of growth and development, it has formed a professional team covering miners’ operation, repair, electrical, network, and system development. With a good reputation and excellent professional ability in the industry, our service scope is now spread all over the world. In China, North America, Europe, Central Asia, and other regions, Hash Guard is operating more than 50 data centers and has managed 600,000 miners.

R2-D2

R2-D2 Miner Development

Early in 2020, Bitmain made the decision to channel efforts into the creation of the new R2-D2 branch, the brainchild of the strategic business unit at Bitmain, built to cater for the next generation of mining technology. R2-D2 is an initiative that facilitates investors in having exclusive rights to build their own Antminers. As part of the program, customers will have exclusive usage rights for one year. It works as a long-term solution aimed at growing the mining industry while evolving into the usage of multiple cryptocurrencies. This initiative has more than 40 core design team members working on it, with more than 10 years of professional experience. This development is huge for Bitmain who have been championing mining innovator since 2013.

Upgrade on Training Courses to Attract more Participants: Standardized Training System to Nurture Talents Ready for the Future

Ant Training Academy is a training service project (hereinafter referred to as “Ant Academy” or “ATA”), which was launched by Bitmain based on years of knowledge dissemination and technology inheritance and accumulation. It is the sole training institution and certification authority officially certified by Antminer.

In August, ATA announced the upgrade on its course plan, to attract more talents with more course setting options, in the hope to prepare more qualified professional staff for the industry. 

Currently, the core course of ATA is maintenance training, with the upgrade presently including the 19 Series training program. Also, it now has two options in terms of training periods –a long-term training program lasting two weeks, and a short-term training program lasting five days only – each class now scaled down to eight participants, with the option of elective courses to match the needs of different groups. Successful course participants will qualify for a “Certificate of Accomplishment”, which will include an assessment of their skill level.

Only those who sit through the night could embrace the first ray of sunshine. Bitmain will keep on the Hashrate-centered strategy to advance the evolution of the entire industry and keep on forging ahead to explore more possibilities.

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Bitmain Set First Cooperative Repair Center in North America through Partnership with Core Scientific

Singapore, Oct. 02, 2020 – Bitmain – the world’s leading producer of cryptocurrency mining hardware announces that it has expanded the partnership with Core Scientific, to set up the first cooperative repair center in North America. This action is set to make sure customers in North America can get machines repaired with original parts while reducing the downtime of sending machines back to China.

“We are so excited to expand our offerings in North America through this partnership with Core Scientific,” said Irene Gao, Antminer Sales Director of NCSA Region, Bitmain. “Although Bitmain has made significant improvements in product design, miners are usually in a non-stop working status, making maintenance and repairs a rigid demand of our customers. We have been trying as hard as we can to make sure our customers around the world get effective and efficient services. This cooperative repair center is not only another milestone of our partnership with Core Scientific, but one step further of our commitment to local markets in North America.”

“Having a repair center close to miners in the United States is key to improving efficiency when it comes to repairing mining rigs,” said Kevin Turner, CEO of Core Scientific. “By eliminating the substantial economic and opportunity costs associated with sending equipment back to Asia to be fixed, we can help Bitmain – and the mining industry as a whole – continue to grow. Our skilled in-house engineering team is primed and ready, and will now have access to original replacement components to ensure units stay in warranty.”

As Bitmain’s cooperative repair center, Core Scientific will be able to perform repairs for any customer whose Antminer warranties have expired. Repairs will be completed by engineers who have attained Bitmain’s Ant Training Academy certification.

This announcement marks another milestone in Bitmain’s partnership with Core Scientific. As a leading mining operator, Core Scientific continues facilitating its operation with Bitmain’s products, and just recently announced a purchase of nearly 18,000 units of Bitmain bitcoin mining machines. Earlier this year, Bitmain and Core Scientific announced to the establishment of the first Ant Training Academy in North America, providing training and accreditation to local participants.

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Bitmain Signs Another Purchase Contract of 5,100 Antminer S19 Pros With Riot Blockchain

Singapore, Sep. 16, 2020 – Bitmain – the world’s leading producer of cryptocurrency mining hardware announces that it has signed another purchases contract with Riot Blockchain, one of the few Nasdaq-listed cryptocurrency mining companies, with the new purchase of 5,100 next-generation Bitmain S19 Pro Antminers (110 TH) for more than USD $10 million, scheduled for receipt and deployment starting in February 2021.

By providing the most advanced miners, Bitmain will help Riot Blockchain achieve the goal of 2 EH/s hash rate capacity. The 5,100 new miners will bolster Riot Blockchain’s hashing power by roughly 0.56 EH/s

“Riot is a long-term close friend of ours, we are more than happy glad to expand our cooperation and deepen the partnership with them. With the full deployment of these 13,100 S19 Pros, we are helping them set path to the goal of 2 EH/s hash rate capacity. This will be a milestone for both Bitmain and Riot.” said Irene Gao, Antminer Sales Director of NCSA Region, Bitmain.

Last month, Riot just purchased 8,000 Bitmain S19 Pro Antminers. Starting from a 4,000 S17 Pro deal in this February, 20,140 Bitmain miners have been purchased by Riot within a year.

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Bitmain partners with Foundry to drive traditional capital into a new digital era

As the saying goes, “it takes money to make money”. In most industries where there are positive returns, there will be an abundance of capital and financing to support the growth of businesses. Yet historically mining businesses had few financing options open to them, despite the compelling returns they’re able to yield. However, this is rapidly changing as investors are increasingly recognizing the opportunity in crypto and investing traditional capital. Mining in particular, which is a fundamental of crypto and linked to the creation of intrinsic value, is one of the best and reliable ways to step foot into this sector.

One of the early pioneers to address the financing gap in a reliable and scalable way is the Digital Currency Group (DCG)’s subsidiary Foundry. Since its inception in 2019, Foundry has emerged as one of the largest bitcoin miners in North America. It has also extended tens of millions of dollars in equipment financing to other mining organizations and helped to procure almost half of the bitcoin mining delivered in North America this year.

Bitmain has been collaborating with Foundry for some time, who have provided the necessary capital to fund mining equipment for many of its large clients. This critical access to finance not only breaks down barriers to entry and growth for mining businesses, but it also strengthens the overall mining ecosystem.

“Foundry was established to empower miners with the tools that they need to build tomorrow’s decentralized infrastructure. An important part of this is addressing the chronic lack of financing options, which is holding back many successful mining businesses from scaling their operations”, said Mike Colyer, CEO at Foundry. “Through our partnership with Bitmain, we are proud to have helped many mining businesses across North America procure the mining equipment they need to realize growth.”

“Through Foundry’s work and financial support of our end customers, we have been able to ship a significant number of machines into North America this year,” said Su Ke, Global Sales and Marketing Director of Antminer at Bitmain. “Foundry’s institutional-grade services for North American businesses and its team’s expertise have played a key role in making this happen. We look forward to working closely with Foundry to reach even more customers and provide an even better experience for them.”

Fuelled in part by inexpensive and abundant renewable power, North America is rapidly becoming an epicenter for bitcoin mining, and one of Antminer’s fastest-growing markets. Bitmain’s recent $28.8 million Antminer S19 Pro deal with Nasdaq-listed Riot Blockchain, as well as a $23 million contract with Marathon Patent Group, are a testament to this growth trajectory.

Bitmain is truly excited to be a part of this growing opportunity and remain fully committed to working with partners such as Foundry to support customers as they scale their businesses.

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Bitmain signs $23 million Antminer S19 Pro Contract with Marathon Patent Group

Bitmain’s S19 Pro ASIC Miner Continues as The Miner of Choice For North Americas Largest Bitcoin Miners

Singapore, Sept. 04, 2020 – Bitmain – the World’s leading producer of cryptocurrency mining hardware is accelerating their momentum with the execution of this contract valued at over  $23 million. Marathon Patent Group (“Marathon”), a Nasdaq-listed cryptocurrency mining company based in Las Vegas Nevada, has entered a Long-Term Purchase Contract of $23 million to purchase 10,500 Antminer S19 Pro. Bitmain’s Antminer S19 Pro is equipped with the most advanced chipset currently available.

“We are excited to close this deal which dramatically expands our relationship with Marathon. Powered by a new generation custom-built chip from Bitmain, Antminer S19 Pro features industry-leading performance and power efficiency, which we believe will significantly boost Marathon’s mining capacity. Once fully deployed, these Miners will bring in a new era of Bitcoin mining, and we cannot wait to see Marathon unleash their market potential with this additional capacity.” said Irene Gao, Antminer Sales Director of NCSA Region, Bitmain.

Merrick Okamoto, Marathon Patent Group, Inc.’s Chairman and CEO stated, “Bitmain’s S19 Pro ASIC Miner outperforms all other Miners we have deployed by producing and energy efficiency of 29.5 ± joules per terahash (J/TH.) Upon delivery and full installation, Marathon’s mining operation will produce up to 1.55 Exahash.”

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Bitmain Signs $17.7 million Antminer S19 Pro Deal with Nasdaq-Listed Riot Blockchain

Singapore, Aug. 24, 2020 – Bitmain – the world’s leading producer of cryptocurrency mining hardware continues its partnership with one of the few Nasdaq-listed cryptocurrency mining companies – Riot Blockchain (“Riot”, “Riot Blockchain” or the “Company”) by executing another purchase agreement of 8,000 next generation Bitmain Antminer S19 Pros. The Antminer S19 Pro is another hot-selling miner launched by Bitmain earlier this year, featuring a hash rate of 110 TH/s, with a power efficiency of 29.5±%5 J/TH. This new $17.7 million contract with Riot marks another global milestone of Bitmain’s Antminer S19 Pros. 

“We are glad to continue and expand our cooperation with Riot. Riot is a long-term friend of ours, and we have witnessed and assisted them building up a powerful mining operation in North America. Equipped with the most advanced chipset currently available, our Antminer S19 Pro redefined the industry standard of hash rate with an outstanding power efficiency. We believe this new purchase help will Riot expand a leading position in the market and fulfill their business vision, which we are more than happy to be and continue being part of.” said Irene Gao, Antminer Sales Director of NCSA Region, Bitmain.

This purchase agreement has a defined delivery schedule of 2,000 S19 Pros per month starting in January 2021 and continuing through April 2021 until the order is complete.

“Riot Blockchain deeply values the relationship developed with Bitmain over the years. We are focused on building our mining operation with the most efficient hardware on the market, therefore the S19 Pro has been the leading choice during this growth period. Riot set the ambitious hash rate goal of 1 EH/s by early 2021, even though sourcing hardware can be exceptionally challenging during the current pandemic and in this economic climate. Bitmain provided us with exceptional service in a path towards achieving our goal and because of their robust supply chain we are scheduled to exceed it. We value our relationship with Bitmain and look forward to supporting each other as our industry grows.” Jeff McGonegal, CEO of Riot Blockchain.

Starting from a 4,000 S17 Pro position in December 2019, 15,040 total Antminers have been purchased by Riot within a year. When the new S19 Pros are fully deployed, Riot expects its total hash rate capacity to be approximately 1.45 EH/s (1,446 PH/s) while utilizing approximately 47 megawatts (MW) of energy.

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CBDCs: The Second Coming of Bitcoin

There has certainly been a lot of hype around Central Bank Digital Currencies (CBDCs). Among its notable proponents is China, who earlier this year introduced a homegrown digital currency across four cities as part of a pilot program, marking a milestone on the path toward the first electronic payment system by a major central bank. This was followed by one of the oldest banks in the world, the Bank of England, who signaled it would consider pursuing a CBDC. 

So, does the trend for CBDCs pose a threat to established cryptocurrencies such as Bitcoin? And what might the future hold? To begin answering this question, we must first understand its modern-day limitations.

Since the Bank of England’s foundation in 1694, the bank issued notes promising to pay the bearer a sum of money. For much of its history, it was entirely possible to take a Pound note to the bank and exchange it for gold, a scarce commodity with little physical utility. The gold provided the banknote with intrinsic value.

However, this link was broken by the British in 1931, and by the Americans in 1933 for its citizens. Today, the strength and dominance of fiat currency are based on nothing more than faith. Let’s take the USD, which since Bretton Woods, has rightly or wrongly, underpinned the modern financial system. It has value because we have faith in the United States’ economic and military strength, willingness to recover debts, and thus its ability to come good on its treasury bills.

As for Bitcoin, it has value because it is governed by an algorithm which means only 21 million Bitcoins can ever be mined. Once miners have unlocked all the Bitcoins, the planet’s supply will essentially be tapped out unless the protocol is changed to accommodate a larger supply. Therefore, Bitcoin’s value is intrinsically linked to the algorithm’s guarantee. 

When it comes to CBDCs, some commentators warn its proliferation will become a threat to Bitcoin as government-controlled currencies will replace unregulated cryptocurrencies. In reality, this is unlikely and the reason is this.

CBDCs are extensions of fiat currencies. They are subject to the usual rules of fiscal policy and economics. In short, they behave like fiat currencies. Federal regulators can perpetually print digital notes under the guise of quantitative easing, increasing inflation, and reducing purchase power. Changes in public confidence in a government can be enough to make their currency worthless virtually overnight. Just ask any Argentinian.

Bitcoin on the other hand has intrinsic value. Its value is not based on mere faith but a robust deflationary algorithm. This is why the introduction of CBDC’s are unlikely to have an impact on pure cryptocurrencies. However, with the increasing supply and diversity of CBDCs expected, an interesting discussion is what they will need to do with them.

We’re living in a digital era and technology has radically transformed many industries. Look no further than the geopolitical tensions around 5G which are set to unlock the multi-trillion “Industry 4.0”. Yet the current financial system has been slow to transform. Markets are still opening at 8am and shutting up shop around 5pm, in a world where global 24/7 markets are entirely possible.

For CBDCs to have true purpose and value beyond its paper equivalent, the financial system will need to be rebuilt to support them. When this happens, to take a religious term will be the second coming of Bitcoin.

If financial institutions are forced to build out the infrastructure to transact and store CBDCs, the same underlying infrastructure could be used to support Bitcoin. In fact, investment banks would cherish this. They are not precious about whether it’s fiat or a shiny metal they are trading. They just want access to a diverse range of asset classes. Also, imagine millions, perhaps billions of people with access to digital wallets, accustomed to digital money with financial services to match. If Bitcoin is supported as part of this revolution, this increases Bitcoin’s utility, and therefore value.

The proliferation of CBDCs will therefore indirectly give Bitcoin a boost, increasing its value and relevance. Expect to see another gold rush wave for enterprising miners, recognizing the opportunity to get ahead of the inevitable. But this time it won’t just be individuals with their ASIC miners or even the farms participating. 

So when we begin to see financial system 2.0 come to bear, what would you rather hold? CBDCs or Bitcoin? If the latter, it might be time to ensure your mining hardware and setup is giving you the competitive advantage you need to stay ahead of the curve in this next gold rush.

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