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   697

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 IPO Application Deadline to Expire

According to the latest statement, team doesn't lose spirit and appointed new CEO
26 March 2019   84

The application of the Chinese mining company Bitmain to conduct an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEx) expired yesterday, March 25. This is reported by the Cointelegraph.

The company filed an application six months ago, for which it provided financial statements to the HKEx committee. However, during this period, the hearing on the application did not take place.

To re-register an application to HKEx, the company will need to disclose financial statements for the third quarter of 2018.

Today, 26.03.19, Bitmain published a blog post, in which it reported in new CEO Haichao Wang appointment and share some plans.

Bitmain’s listing application to HKex in September 2018 has reached its 6-month expiration date. We do recognize that despite the huge potential of the cryptocurrency and blockchain industry, it remains a relatively young industry which is proving its value. We hope regulatory authorities, media, and the general public can be more inclusive to this young industry. We will restart the listing application work at an appropriate time in the future.

Bitmain Team

In November 2018, an application for an IPO from a mining company Canaan Creative was canceled.