Some analysts on Wallstreet are claiming this and I would say it is likely credible seeing as how a Cryptonote Miner is being sold on their site now.
1. Hashing algorithm: CryptoNight
Power consumption: 550W
These are the most conservative estimates. We expect the miners to deliver higher performance and efficiency when they are ready to ship.
2. There are financial risks associated with mining cryptocurrencies. These risks can be related to changes in exchange rate of the cryptocurrency or to changes in the algorithm that is used to mine the cryptocurrency. Please deliberate well before making a purchase because we will not accept any requests for refund for orders of this batch.
3. One major cryptocurrency which is using CryptoNight hash function is about to change their PoW algothrim, and according to their public statement, it is purposely to brick ASIC mining rigs including X3. When you buying it, you are betting that they are wrong
This is one instance where I am happy with Bitmain (unlike the scam they pull where the miner you buy will mine for them until you change the config! They could at least default it to an account on Hashnet that gives you credit). But in all fairness for the X3 Cryptonight miner they have given fair warning that there are two significant risks and issues with using their ASIC.
Cryptonight apparently has threatened to do something that would cause these ASICs to brick. Even if they won’t be bricked Cryptonight has pledged to stop the use of these ASICs which is a huge threat to owning these units from Bitmain.
This could get interesting if they do release an Ethereum ASIC but Ethereum itself has stated they will eventually move to PoS (Proof of State) which will essentially stop all mining.
If the above scenarios play out then I believe most people would point their GPUs at ZCash and Monero instead and those currencies would rise in value.
We’re in very curious and serious times for cryptocurrencies between uncertainty over regulation, government, mining and the future value. Is Bitmain leading to its doom or leading the market to more growth?
Time will tell and it is really hard to call which way it heads.