Bitmain is set to unleash new next-generation cryptocurrency mining equipment tomorrow, which should see it cement its position as the leading Bitcoin (BTC) mining hardware manufacturer.
The Chinese-based company, which has steadily grown to become one of the cryptocurrency’s most valuable firms, announced that the highly anticipated hardware devices would be available for purchase beginning this Thursday, November 8.
In a Tuesday, November 6 tweet, Bitmain stated that it would be releasing two new models in its flagship Antminer series – the S15 and T15 – all with next-generation features and cutting-edge technology.
The Antminer mining rigs (S15 and T15)
The new models (the Antminer S15 and Antminer T15), succeed another set of popular models – the Antminer S9 and Antminer T9.
Antminer S15 – $1,475
|Hash rate||28 TH/s ±2 %||17 TH/s ±2 %|
|Power consumption||1596 W ±7 %||850 W ±7 %|
|Power efficiency||57 J/TH @ 25 °C||50 J/TH @ 25 °C|
|Weight||~7 kg||~7 kg|
Antminer T15 – $913
|Hash rate||23 TH/s ±2 %||20 TH/s ±2 %|
|Power consumption||1541 W ±7 %||1200 W ±7 %|
|Power efficiency||67 J/TH @ 25 °C||60 J/TH @ 25 °C|
|Weight||~6.6 kg||~6.6 kg|
According to the Beijing-based firm, the new devices will feature Bitmain’s new BM1391 ASIC chip that the company’s CEO Jihan Wu released in September during the World Digital Mining Summit.
The 7nm chip comes packed with features that significantly improve the performance and efficiency of the new devices compared to the earlier ones.
Bitmain says that the ASIC chips are capable of reaching peak energy consumption levels at 42W/TH. The mining firm has yet to release precise specifications of the chips, but it is believed that mining rigs could have higher consumption ratios.
The mining giant has claimed that the S15 and T15 are designed to offer “industry-leading hash rates” and will mine BTC, Bitcoin Cash (BCH), as well as other digital assets that utilize the SHA256 algorithm.
Bitmain’s announcement comes in the wake of similar announcements and device previews from competitors. Rival companies Bitfury and Ebang have in the recent past teased bitcoin miners that are touted to have considerably higher efficiency levels, though that was before the latest S15 and T15 releases.
Bitmain’s position as the leading crypto mining company may get an additional boost from its public listing on the Stock Exchange of Hong Kong (HKEX).
The company’s IPO, which has courted controversy in recent months, is expected to conclude sometime later and will be biggest in the history of cryptocurrency.
At the moment, the only crypto business that can supplant Bitmain is Coinbase- the U.S based exchange and wallet provider was recently valued at $8 billion.
At the beginning of September, Bitmain announced plans for its initial public offering. The hype surrounding it appeared to rope in major investors, though that has toned down considerably following allegations that the firm may have misled investors.
Some high profile investment firms have also distanced themselves with Bitmain’s pre-IPO offering, with the successive negativity not helping it any further.
The company has also reportedly made huge losses as the crypto market shrank. As BitMEX Research pointed out, Bitmain lost close to $400 million in the second quarter of 2018.
The losses arose primarily from ill-advised hoarding of investments in BCH, which has underperformed since the turn of the year.
Another challenge facing Bitmain and other leading mining hardware manufacturers is the potential impact of new U.S trade policies. The firm is likely to see significant reductions in its revenue from the U.S market, with the 27.6 percent tariff imposed on mining hardware from China making complicating the matter for US miners.