As Bitmain’s 5nm chip testing succeeded, Canaan will also follow Bitmain’s pace, becoming the world-second crypto miner maker to be equipped with the 5nm chip in Q1 2020.

After successful going public, Canaan gains more trust at the supply chain level, who will become the only mainstream miner maker that gets the support from chip manufacturers TSMC and Samsung.

TSMC’s 5 nm (N5) manufacturing technology is projected to provide significant benefits when it comes to performance, power, and area scaling, which is why the contract maker of semiconductors expects a tangible number of its customers to adopt this process. TSMC believes that its N5 technology will ramp even quicker than its 7 nm (N7) process.

Jianping Kong, co-founder of Canaan said, they will have a greater grasp of the supply chain and more capital investment after going public. Their goal is to be the first among the crypto miner makers in market share in 2020.

However, due to the low price of bitcoin, Canaan’s share price has fallen by nearly 50% since it went public a month ago.

Earlier this month, Bitmain’s 5nm miner chip tops the first complete 5nm testing chip in the world. The average yield of TSMC 5nm testing chip has reached 80%. It will be put into mass production in the first half of 2020 whose efficiency will be improved between 7% and 15% compared with 7nm chip.

Before that, Canaan had won the first test-level 7 nm chip over the world, but the shipment volume was not large. As the design and packaging of 7nm chip is relatively simple, so it is easy to become the “first one”. However, TSMC will give priority to apple, Hisilicon, Qualcomm and other major customers in terms of production capacity. In terms of production capacity, both Bitmain and Canaan have suffered losses from TSMC. It can be judged that no matter for Bitmain or Canaan, 5nm is more symbolic than practical.

On the other hand, Bitcoin halving in 2020 will be a battle for miners. At present, Bitmain’s S19 and Whatsminer’s M30s have reached the level of 30-40 W/ T. Jihan Wu, CEO of Bitmain, also believes that the cycle of bear and bull market of BTC are lengthening. It is possible that the bull market will not come after bitcoin halving in 2020.