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   923

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 Wants to Sue $4.3M From Ex-Employees

Tangled cased started back in 2015, when today's largest mining pool BTC.com was born
17 June 2019   87

The Chinese mining company Bitmain sued three of its former employees who allegedly violated the contract to refuse competition. This is reported by Coindesk.

Currently, there are six lawsuits in court: three from the co-founders of the Poolin pool, claiming that they are no longer bound by the terms of the contract with the company, and three from Bitmain, insisting on the opposite.

The operational director of Poolin Fa Zhu in 2015 reported that he and his colleagues suggested Bitmain to open a new mining pool, BTC.com, in parallel with Antpool, which was already available at that time. Bitmain did not support the initiative, and then the three decided to launch it with their own money. Today BTC.com is the world's largest bitcoin mining pool in terms of hash rates.

Poolin was founded in November 2017 for the mining of a variety of cryptocurrencies and is currently ranked seventh among the largest mining pools of Bitcoin. Poolin was involved in Bitcoin mining in July 2018 and has since received 26,825 BTC or $ 220 million at the current exchange rate.

Under the terms of the waiver agreement, Bitmain had to pay the Poolin CEO Zhibiao Pan $ 2,780 a month for two years for refusing to open a bitcoin mining pool. The amount of compensation for the two other business participants is not specified.

Now the company is trying to recover all payments from the former employee, and also asks to impose a fine in the amount of $ 667,000 for violating the terms of the contract. In addition, Bitmain lawyers argue that all Bitcoins mined by Poolin are income derived from the failure to comply with the terms of the agreement, the percentage of which is also subject to recovery. The total amount of the claim is $ 4.3 million.

Poolin lawyers, in turn, state that Bitmain itself violated the terms of the agreement when it failed to pay Pan in due time, and the 26 825 BTC obtained by the defendant cannot be considered a direct loss for BTC.com, since there are many pools in the Bitcoin network, everything of which were able to get this cryptocurrency.