Last week, Guo Weicheng, founder of Pandaminer, disclosed that the company is about to release its 12nm bitcoin ASICs in Q3 2018. Pandaminer, the Shenzhen-based Company, has been focusing on GPU mining since February 2016, the bitcoin asic is the latest attempt on expanding the company’s business boundaries.
Initiated in last August, the P1 and P1+ miner was planned to be set at 14T and 18T, performance of which is equivalent to S9 of Bitmain. The ASIC chips is designed by Pandaminer independently and is being taped out by TSMC 12nm process.

“We wish to deliver small batch in late Q3 to assess its performance and stability. Volume production is expected in Q4.”

Guo told 8btc.

Regarding the product pipelines, Pandaminer may consider NVIDIA GPU in addition to the AMD-based B3 Pro and B3+ mining rigs. The company may also produce IPFS miner after the launch of its mainnet, depending on its market performance. The company is also deploying hashrate on the mining of XDAG.
As an early player in GPU mining market, Guo has experienced the full circle of crypto volatility in the market, which may explain why Pandaminer is taking cautious steps on expanding its business. So far the company has provided hosting service and mining pool for ETH, ETC, Monero and other altcoins. The company also owns large scale mining operations across the world. Balancing between cash flow and holding coins is the key to the company’s survival in bearish market.

“In fact, bitcoin mining market is more stable in the long run and on the lower end of risk.”

Guo said. He is also expecting steady hashrate rise of bitcoin network while that of ethereum maintains stability.

In the future, Pandaminer is seeking in-depth cooperation with funds that focus on GPU mining sector.