Former Samsung Computer Division Executive Vice President says new ASIC based Bitcoin mining machines will achieve highest hashing power at lowest energy consumption rate.
NPG (NextPowerGen Co.Ltd) CEO Houn Soo Kim and his team of top engineers from Samsung Electronics have built high-end servers for Intel, EMC and Sun Microsystems. Now, with full-time employees of 12, NPG is looking to be a major contender in the Bitcoin mining industry.
Bitmain, the dominant player in the industry, may be losing its grip as other companies are gaining market share. CoinDesk reported that in an updated IPO prospectus, Bitmain posted roughly $500 million in losses for Q3 of 2018, endangering its prospects for a successful public offering. Rumors surrounding Bitmain’s financial troubles of upto UD$1 billion in losses may be worse than realized as Bitcoinist.com reported that Bitmain’s highly anticipated IPO may be in a “Death Spiral”. Bitmain’s planned Bitcoin mining facility in Rockdale, Texas has been all but cancelled and Israel office is now closed.
“This a huge window of opportunity” says Andrew Lim, President of SKBC Co. Ltd. who is the worldwide investor relations consultant for NPG”. Lim added, “Bitmain is losing its market lead and we are now in a race to grab a big chunk of the multi-billion dollar Bitcoin mining business”.
“NPG has the support of Samsung Foundry and its 8-nm ASIC Bitcoin mining chip will achieve 60 trillion hashes per second (TH/s)”, Lim added. “Energy efficient at only 40 TH/s, NPG’s NT3 ASIC mining machines is already gaining attention. We’ve already scheduled high-level discussions with mining companies”.
Pre-sale of NT3 ASIC miners is expected to begin August 2019.
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