Bitmain Launches Antminer E3 Crypto Mining Rig
Bitmain, the largest and most popular cryptocurrency mining hardware in the world, has unveiled its latest rig: a mining monster dubbed Antminer E3 that will cause jitters among competing manufacturers like AMD and NVIDIA. The Antminer is an ASIC Ethereum miner that will perhaps finally edge out the dominant Ether mining hardware manufacturers AMD and NVIDIA from the Ethereum mining scene.
By designing and building such a powerful miner, Bitmain has reinforced its dominance as the top cryptocurrency mining hardware manufacturer considering that it currently dominates Bitcoin mining. The new rig is built for the Ethash / DaggerHashimoto algorithm which is used by various cryptocurrency blockchain platforms including Ethereum, Piri, Ethereumclassic, and Ubig among other cryptocurrency platforms.
Features of the Antminer E3 By Bitmain
Bitmain announced the launch and availability of the Antminer E3 in a tweet that ended months of intense speculation of the upcoming mining unit. This new mining hardware has been praised as the most powerful and the most power efficient EtHash ASIC miner in the market. The company revealed that the Antminer E3 is capable of delivering the fastest and most cost-efficient Ethereum mining capabilities compared to the conventional GPU mining hardware developed by Nvidia and AMD.
The Antminer E3 hardware consumes 800W of power to deliver 180 MH/s mining speed according to conservative estimates. This means that the miner will consume roughly $2.30 worth of per in 24 hours to return about $2.73 in cryptocurrency, meaning that buyers should expect at least 118% profit ratio when they begin mining. At this rate, the Antminer E3 should return about $20 per week, $80 per month, or $1,000 per year working with the estimated cost of $5 per MH/s.
At $800 per unit, and working with these conservative estimates, buyers of the Bitmain Antminer E3 should expect an annual return of 125% and a miner payback period of 300 days.
How the Antminer E3 will affect Ethereum mining
Analysts at Bernstein revealed that Bitmain may have actually made more in profits than Nvidia in 2017. Considering that Bitmain’s primary business is the sale of cryptocurrency mining rigs, it is clear that the company has high expectations in the performance of the new Antminer E3 hardware. This also means that more and more people are investing in cryptocurrency mining hardware such as this, and the competition in the mining scene is just getting stiffer.
The launch and availability of the Bitmain Antminer E3 is set to challenge the Ethereum network philosophy of nurturing a platform that is resistant to ASIC. The main reason why Ethereum is resistant to the use of ASIC mining hardware on its network is because it often leads to the monopolization and the centralization of the blockchain network by a few powerful miners.
As a matter of fact, there was an uproar in the blockchain community and social media when rumors of the Antminer E3 ASIC rig specially designed for Ethereum emerged. In response, the development team at Ethereum are considering blocking Bitmain’s EtHash miners from the network, with some stakeholders even suggesting a hard fork or new protocol shift to protect the blockchain from the ASIC mining hardware.
Vlad Zamfir, a lead developer at Ethereum, posted a twitter poll inviting community suggestions on the subject of ASIC EtHash mining in the wake of the launch of the Antminer E3. Based on the poll result, it is clear that the Ethereum universe does not favor hard forking the network to protect the blockchain from ASICS such as Antminer E3.