To dear shareholders:

We indeed had a hard time starting from the end of 2013. The BE200 performance was inferior than expected, and our prediction for the capacity of OEM producers and the individual mining market was a big miss. However, we had not stopped our work on designing our own products and finding proper farms after our chips passed the tests. Meantime we had tried many cooperations with OEMs (premium+balance payment, chip franchising) but the overall improvement on volume was not significant. Now the new hardware solution matures and we got the resources on deploying, we can turn the newly produced chips to the market where the highest margin is.

There are some guesses about our integrity also starting from the end of 2013. We would like to emphasize the following:

1. There are no umbrella companies from ASICMiner. There are indeed some unsolved conflict of interests on someone investing both on ASICMiner and other chip manufacturers, but ASICMiner did not offer any information other than what it is supposed to do, for example, holding board member meetings.

2. ASICMiner has not participated in its share market in any means.