Dear reader, let us delve into the intricate web of international relations and technological advancement, where the United States, that great colossus of the West, has seen fit to cast its shadow upon Sophgo Technologies, the AI chip enterprise nurtured by none other than Zhan Ketuan, one half of the dynamic duo behind Bitmain. 🌲🚫
Alas, the stars have aligned against Sophgo, as the U.S. has deemed it necessary to include the company on its trade blacklist. The reason? A suspicion that Sophgo’s wares may find their way into the hands of Huawei, thus circumventing the sanctions imposed by the vigilant guardians of democracy. 📋🚫
It appears that the American eagle has spied Sophgo acting as a willing pawn in the grand chessboard of geopolitics, seemingly bolstering China’s chipmaking prowess at the behest of the Middle Kingdom itself. Such audacity! 🌟♟️
And what of Bitmain, you ask? Well, dear reader, when Zhan decided to shift his gaze towards the horizon of AI chips, it caused quite a stir within the ranks of the company. The focus on cryptocurrency hardware, once so profitable, began to waver as the winds of change blew through the corridors of power. 💸🔄
“We are a company focused on high-performance processors. We started with cryptocurrency processors and now we’re entering artificial intelligence, it’s a new area of application but not a complete pivot.”
Zhan, ever the optimist, shared these words with a gathering in Beijing in 2017, hoping to reassure those who feared the worst. 🎤✨
But alas, the road ahead is fraught with peril for Sophgo. With the blacklist looming overhead, the company finds itself cut off from the benevolent embrace of Taiwan Semiconductor Manufacturing Company, the very paragon of chipmaking excellence. Some speculate that even Bitmain may feel the sting of this decision. Yet, TSMC remains steadfast in its commitment to global regulations, a true bastion of compliance. 🏛️🚫
Our tale takes us back to the halcyon days of 2013, when Zhan and Wu Jihan, a man with a heart full of crypto dreams, joined forces to birth Bitmain. The company soon carved out a niche in the Bitcoin mining hardware market, raking in a staggering $2.5 billion in revenue by 2017. Under their watchful eyes, BTC.com and Antpool grew to become behemoths in the Bitcoin mining pools. 💰📈
Fast forward to June 2018, and Wu revealed plans for a much-anticipated IPO, a move designed to allow early investors to cash out their hard-earned gains. The wheels were set in motion, with Bitmain completing its $1 billion pre-IPO registration with the Hong Kong Stock Exchange in August, followed by the filing of its IPO in September. However, fate had other plans, as Bitmain’s IPO application in Hong Kong expired in March 2019, leaving investors to ponder the vicissitudes of Bitcoin’s fluctuating value. 💸📉
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2025-01-27 11:40