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Samson Mow
Why is Bitmain raising capital so fast & only showing Q1 results to pre-IPO investors? We're well into Q3 now. The reason is Q2 was a disaster. Bitmain is sitting on a massive $1.24 billion USD in inventory & S9 prices dropped by ~85%! Q2 losses range in the $600-700 millions.
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Samson Mow Aug 12
Replying to @Excellion
If prices stay same, Bitmain will continue bleeding as they went ALL IN ordering massive amount of wafers from TSMC. You don’t become a top 5 global customer of TSMC with smaller orders. Pre-IPO investors should push them to disclose their Q2 numbers immediately.
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Beautyon Aug 13
Replying to @Excellion
Wait, what? I thought everyone was supposed to be helping bcash and Bitcoin Enemies survive so they can hurt more people, not pointing out their flaws to constrain the inevitable disaster? What about the altruism?! Scammers have feelings too!
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Samson Mow Aug 13
Replying to @Beautyon_
I prefer to help them by helping them fail fast :)
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