ATLAS TO ACCELERATE ITS GLOBAL EXPANSION AND SEES POSITIVE GROWTH OUTLOOK FOR BTC MINING INDUSTRY BEYOND 2022 - Seite 3

2. BTC mining is a prototype for the future distributed computing network and it is the basis of Web 3.0 infrastructure.

In addition to supporting a wider range of applications, BTC mining, more importantly, shall be seen as a viable prototype of future distributed computing networks. For example, future applications of the Metaverse are unlikely to be built on current cloud computing networks - which are more vulnerable to cyber-attacks and by their very centralized nature are controlled by a select group of companies. Distributed computing networks are an extension of distributed ledger technology, which enables a multi-vs-multi economic relationship. The security robustness and stability of the BTC network has been proven sound over the past few years. Atlas believes such a network is an important building block of Web 3.0 and moreover will inspire more distributed computing networks to be built.

3. The BTC network is in fact a highly energy efficient network, far exceeding the energy efficiency of traditional financial networks

BTC has often been criticised for consuming too much energy, but this assessment is often misguided. When compared with traditional finance payment networks which are still operating on legacy infrastructure. We can see that that traditional finance remains insecure and extraordinarily inefficient. For instance, to process the same number of transactions, the BTC network can retain more copies of transaction records, hold a longer transaction history, and complete the transactions in a fraction of the time, all the while consuming less energy in the process.

4. BTC Mining is an accelerator of innovation and emerging technologies, stimulating new chip design, and renewable energy technology

BTC mining, as a dedicated computing application for fixed algorithms, has all participants committed to a common goal – to seek for extreme efficiency – due to its incentive mechanism and business model. The direct consequence of extreme efficiency has been to drive the development of chip technology. In fact, BTC mining has been the first large-scale adopter of advanced semi-conductor processors, whether from 16nm to 7nm, 7nm to 5nm and possibly in the future to 3nm or even more advanced processes.