Sales of Mining GPUs is Negligible, AMD Says

In April, AMD analysts predicted that by the end of 2018, profits from sales of mining equipment will be less than 10%
25 October 2018   194

AMD representatives published a report stating that sales of popular among the miners of video cards are steadily falling.

The document says that the revenue from the sales of “blockchain-related video cards” in the third quarter is much less than in the previous quarter. The share of revenues from this area in the total amount of revenue "is expressed as a single digit in percentage terms".

According to the company, in the third quarter its revenue rose to $ 1.65 billion - by 4% compared to last year - but amounted to less than the expected $ 1.7 billion. This is attributed to the general decline in sales in the segment of computing and graphics processors relative to the previous quarter.

The document also says that in the fourth quarter of 2018, AMD expects to receive about $ 1.45 billion, thus exceeding the same period of the previous year by 8% - in the fourth quarter of 2017, the company's revenue amounted to $ 1.34 billion.

Representatives of the company expect continued decline in sales of popular among the miners of GPU-devices.

In April, AMD analysts predicted that by the end of 2018, profits from sales of mining equipment will be less than 10%.

Bitmain to Deny Jihan Wu is Out

Yesterday news that mister Wu left the post of chairman of the board of directors appeared
15 November 2018   85

Bitmain Bitcoin has denied rumors that its head Jihan Wu left the post of chairman of the board of directors. This is reported by CCN.

News that Jihan Wu and three other functionaries withdrew from the board of directors of the company appeared the day before. According to one version, Wu entered into an unspoken confrontation with Bitmain co-founder Micree Zhang, since he is focused on developing products in the field of AI and chip production.

It was also stated in reports of local publications, Wu moved to the position of Bitmain supervisor and lost his right to vote in the decision-making process of the board of directors, in connection with which he will no longer be able to influence the management of the company.

In a letter to CCN, Bitmain marketing manager Nishant Sharma confirmed that the board of directors of the company had undergone personnel changes, but the information that Jihan Wu had left the post of chairman called fake. He also denied the departure of other members of the board.

As is standard listing practice, Bitmain is restructuring its board and group structure, to ensure it meets regulatory requirements on its road to IPO. This is to simplify the board structure to facilitate its management. There have been no board departures and co-founder Jihan Wu will continue to lead the company as co-chair, together with co-chief executive officer, Micree Zhan.
 

Nishant Sharma

Marketing maneger, Bitmain

Bitmain filed an official application for an IPO on the Hong Kong Stock Exchange in September.