Bitmain, the Chinese firm that focuses on designing and producing hardware for mining Bitcoin (BTC), has announced that it will soon release its new cutting-edge, next-generation Antminer S17 series. The soon-to-be-released hardware will work using the SHA256 algorithm and mine both Bitcoin (BTC) and Bitcoin Cash (BCH). The sale would officially commence on the 9th of April.
Features of the Antminer S17 Series
Specifically, there are three products in the series namely the Antminer S17 Pro, Antminer S17 and Antminer T17. The new series would have a increased hash rates, better power optimisation and more compatibility with size than any of the previously released series.
Speaking on this, the Product Manager of the series, Yangxin, said
“The new miner offers a steep improvement in the hash rate in terms of space and power consumption.”
Also, the Antminer S17 series features 7nm ASIC BM1397 chips, which is said to be a 28.6 percent increase in energy efficiency, when compare with the earlier 7nm BM1391 chip.
Yangxin, who has been involved in the making of Integrated Circuits (IC) for more than ten years and is in charge of production and design, had a bit more to say about the new Antminer S17 series.
“Electricity bills are very high for Bitcoin mining right now so the improved energy efficiency means a significant drop in costs and, thus, increase in profits. Secondly, the new miner offers a steep improvement in the hash rate in terms of space and power consumption. This will be especially meaningful for mining farms when you consider the investment needed with set up”, Yangxin said.
Bitmain’s Mining Endeavours
As part of its efforts to continue to hold strong in the mining sphere, Bitmain has concluded plans to install about 200,000 devices for the purposes of mining so as to utilize the very affordable energy generated from hydroelectric power in the area. Reports have it that the firm has started conversations with another company that will oversee the deployment and accommodation if the mining devices.
Some firms in the region who already mine crypto have revealed that it costs them about $0.037 per kilowatt hour. If calculated with $0.05 per kilowatt hour, it is estimated that Bitmain will make $7.7 million profit.
On Bitmain’s Public Listing
Bitmain, a while ago, made an application with the Hong Kong Stock Exchange, to go public. However, the application for the IPO has officially lapsed as the official six-month period stated by the rules went by without a response from the Listing Committee. It was believed that Bitmain had plans to be the very first crypto based business to be officially listed on the exchange.