It’s a tough time to launch bitcoin mining hardware. As Block Explorer recently reported, bitcoin mining profits turned negative earlier this year. Not only that, but pressure is building over the energy consumption and environmental impact of bitcoin mining.
But that hasn’t stopped Bitmain, the world’s largest bitcoin mining company, from building the next-generation mining equipment.
Bitmain’s new ASIC miners are set to launch Thursday 8th November, but will they reduce energy consumption?
ASIC explained: ASIC miners, or Application Specific Integrated Circuits, are super-powerful processing chips that focus on just one task, in this case, cryptocurrency mining. They are different to normal graphics cards or computer chips which are multi-purpose.
Everything we know about the new Bitmain ASIC Miners
Bitmain is launching two new devices on Thursday: the S15 and T15
Specific details, however, are sparse. We don’t yet know the price, features, or specs of the two devices.
Bitmain has only eluded to the launch via a tweet and empty product pages
We are officially announcing the release of our new 7nm miners which possess industry-leading hash rates designed to mine with the SHA256 algorithm. Two models will be offered, the Antminer S15 and T15. Available for purchase on 11/8. pic.twitter.com/m6HbWGZS1O
— BITMAIN [Not giving away ETH] (@BITMAINtech) November 6, 2018
Will the new Bitmain Miner Reduce Energy Consumption?
Bitmain’s co-founder and CEO Jihan Wu revealed some information about the forthcoming technology in a speech in September.
He suggested the new miners would “achieve a ratio of energy consumption to mining capacity that is as low as 42J/TH.”
To put that in perspective, Bitmain’s current top-of-the-range miner (Antminer-S9) runs at 96J/TH. In other words, the new miners are significantly more energy efficient than its predecessors.
Environmental Impact of Bitcoin Mining
The news comes in the same week as a new research paper which claims bitcoin mining is three-times as expensive as mining the same value of gold.
A further study suggests bitcoin mining consumes the equivalent amount of energy as the entire country of Austria.
The new Bitmain miners may go a small way to lowering the very real impact of bitcoin mining on the world around us.
7nm Chip Technology
The extra efficiency comes from Bitmain’s new 7nm chip technology. As explained by Jihan Wu, the 7nm Finfet technology is more powerful and more efficient than before. With “more than a billion transistors,” it ushers in a “new era of high-efficiency.”
Of course, nothing is confirmed until Bitmain reveals the full specifications of the new models. Expect more details when the miners are made available for purchase tomorrow.
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