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Author: Admin | 2025-04-28
A 100% track record with respect to tape-outs, with all 4 tape-outs resulting in products (please see the above table).MicroBT’s products have been more energy efficient than Bitmain throughout most of 2019 up until today, with the Whatsminer M30S++ operating at around 31 J/TH. However, this is marginally behind Bitmain’s brand new Antminer S19 Pro product at 30 J/TH. Given MicroBT’s lead in the last 18 months, it seems reasonably likely that the next MicroBT product will be able to take the lead back.MicroBT FactboxStaff numbers80R&D staff32Hardware R&D baseBeijingSoftware R&D baseShanghai and Shenzhen(Source: Discussion with company representative Elsa Zhao, BitMEX Research)MicroBT Sales Volume (number of mining machines sold)(Source: Discussion with company representative Elsa Zhao, BitMEX Research)As for the industry outlook, in an interview with BitMEX Research, MicroBT marketing manager Elsa Zhao, reiterated a similar message to Canaan about consolidation in the mining industry.The customer base is moving more and more out of China. Since the halving the return on investment period is growing, it is now much longer than six months, based on the current difficulty and price. At the same time the average customer size is now growing considerably, customers are now larger funds, and no longer small businesses or individuals. Three to five years ago, there was one leading company in the industry, and some top companies competed in the last one or two years. But there will be 2 or 3 leading companies in the industry from now on. After the Bitcoin halving, competition is getting more
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