Mining company Bitmain sells Antminer S15 at a loss to pay off debts

Samscon Mou, Chief Strategic Director of Blockstream, one of the most avid public critics of the mining giant Bitmain, said that several lawsuits have already been filed against the Beijing company. At the same time, Bitmain allegedly has huge debts to suppliers and production contractors.

Mou claims that Bitmain sells Antminer S15 devices at a loss (the price is 30% below cost). According to him, the company has produced only 1,000 such miners.

In this regard, he questioned the success of the new model S17, since the architecture of 7-nanometer chips from Bitmain allegedly does not provide the necessary performance (in practice, he noted, no more than 60% of all chips are viable).

Blockstream's strategic director believes that the company demonstrates to investors the work of individual chips, which do demonstrate the declared performance, but mass production is likely to be economically unjustified.

It is noteworthy that the Taiwanese giant TSMC allegedly sold all 7-nanometer chips to companies such as Apple, Qualcomm, Huawei, Nvidia and AMD. For manufacturers of ASIC miners, there is no production left in this way, even if the architecture of their chips was viable.

So, Mou summed up, the company is desperately trying to attract investment to cover debts to suppliers. At the same time, Bitmain sells the S15 at a loss, and the S17 model can be completely untenable.