Whatsminer Founder Reveals $400 Million In Revenue at Poolin Mining Summit

Yang Zuoxing, co-founder of the company which manufactures Whatsminer hardware, announced at the New Era Mining Summit that it has received orders for over 300,000 mining rigs since July. At the Summit, which was hosted by Poolin, Zuoxing announced that it has already delivered over 100,000 WhatsMiner rigs and expects to deliver another 200,000 by the end of September. With the latest generation WhatsMiner M20 series models priced between $1,500 and $2,000, this would indicate over $400 million revenue in the space of a few months. 

With the WhatsMiner M20 series having a computing capacity of roughly 55 TH/s, an additional 200,000 of these mining rigs being deployed could contribute an additional 11 EH/s to the Bitcoin network. Zuoxing noted at the Summit that Whatsminer’s chip production capacity would help the Bitcoin hash rate level reach 120 EH/s. 

Beijing-based research firm TokenInsight highlighted in their Q2 mining report that Whatsminer M20S and the Whatsminer M21S were among the only three models of hardware which made a return on investment if difficulty continued to increase 5% at each adjustment. The other rig which made a return on investment in this scenario was the Innosilicon T3-43T.