China: Bitcoin Mining Behemoth Bitmain Releases New Hardware

[Sherwood_Archer]

China: Bitcoin Mining Behemoth Bitmain Releases New 7nm Antminer Hardware
https://cointelegraph.com/news/china-bitcoin-mining-behemoth-bitmain-releases-new-7nm-antminer-hardware
"Bitmain indicated in September that it would be equipping its new Antminer models with next-generation Application-Specific Integrated Circuit (ASIC) chips.

ASIC chips are geared to compute optimally for a specific hashing algorithm and, as Bitmain’s tweet confirms, these latest “acceleration” chips use an SHA256 algorithm, which is based on 7nm Finfet semiconductor manufacturing technology.

Crypto’s mining titans have been hot on each other’s heels to compete for the edge in advanced mining hardware; just a day ahead of Bitmain in September, Bitfury Group unveiled its own 14nm ASIC chip, dubbed Bitfury Clarke, which is customized for SHA256 Bitcoin mining. Bitfury’s chip can reportedly “execute a hashrate up to 120 gigahashes per second (GH/s) and a power efficiency rate as low as 55 millijoules per gigahash (mJ/GH)"

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[coin8coin8]

This high-performance mining hardware created by Mining Behemoth undermines the balance, although it has, to some extent, contributed to the advancement of the hardware industry, but at the cost of decentralization it farther and farther away from us. And this is a competitive model, as hardware becomes more expensive, which can lead to soaring mining costs for Bitcoin and affect the entire market.

[BrewMaster]

Crypto’s mining titans have been hot on each other’s heels to compete for the edge in advanced mining hardware;

i wish there was more competition in the mining hardware scene. i feel like there still is a dire need for more companies in other countries that get into ASIC production.
last year when price was rising fast i heard a lot of news about many different companies (like in Japan and Russia,...) were getting in. but i never found out what happened to them. did they eventually start their production or did it die there?

[seoincorporation]

And this are some great News 

Is kind of nonsense to see how China is blocking and banning bitcoin but at the same time producing the best miners. To complement this information i would like to bring the bitmain words about it:

https://blog.bitmain.com/en/bitmain-announces-next-generation-7nm-asic-chip/

That's the full article, and as their twitter account say it will be launched in two days (11/8)

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.

[dothebeats]

Crypto’s mining titans have been hot on each other’s heels to compete for the edge in advanced mining hardware;

i wish there was more competition in the mining hardware scene. i feel like there still is a dire need for more companies in other countries that get into ASIC production.
last year when price was rising fast i heard a lot of news about many different companies (like in Japan and Russia,...) were getting in. but i never found out what happened to them. did they eventually start their production or did it die there?

Given that raw materials, manpower services and cost of production is significantly lower in China, other companies that will try to compete against the Chinese in making ASICs would be placed on a losing battle. We all know that these dudes want to get the best possible profit margin for their sake, and how would that be possible if BITMAIN can put up crazy competitive prices but still be in profit in the end? The Japanese can become a likely competitor, but for now it will be BITMAIN who will be catering for a the demand in the mining market while other companies are still thinking of setting up their own firm.

[Indamuck]

Crypto’s mining titans have been hot on each other’s heels to compete for the edge in advanced mining hardware;

i wish there was more competition in the mining hardware scene. i feel like there still is a dire need for more companies in other countries that get into ASIC production.
last year when price was rising fast i heard a lot of news about many different companies (like in Japan and Russia,...) were getting in. but i never found out what happened to them. did they eventually start their production or did it die there?

It's a risky business to get into manufacturing mining hardware.  Most people no longer make a profit because of  high electricity costs and low crypto prices.  I believe Bitmain is even starting to panic.  Companies usually go public when they are trying to cash out because they are about to go belly up.  It would be nice for bitmain to have more competition though because they kind of have a monopoly as it stands.

[Pursuer]

Is kind of nonsense to see how China is blocking and banning bitcoin but at the same time producing the best miners. To complement this information i would like to bring the bitmain words about it:

it is more nonsense to see people believe what they read on the click-bait news sites! in this case China never blocked or banned bitcoin. that is the bullshit that the news sites publish every now and then about China and as of recently about a couple of other countries like India.
Chinese government to this day remains mostly neutral to bitcoin. recently they changed that and considered bitcoin as legal property and protected by law.
what they have banned so far are these two: banned banks from investing in bitcoin. and closed exchanges that were laundering money.

[jseverson]

Given that raw materials, manpower services and cost of production is significantly lower in China, other companies that will try to compete against the Chinese in making ASICs would be placed on a losing battle.

That's only really true for actual manufacturing though, and any company can easily outsource that to China. Does Bitmain even actually manufacture their own miners? I can't seem to find any information online.

Either way though, having the best margins doesn't automatically mean they can produce the best product. There have been news of Samsung affiliated companies wanting to enter the market, so they'll hopefully have some solid competition in the future.

[BrewMaster]

Crypto’s mining titans have been hot on each other’s heels to compete for the edge in advanced mining hardware;

i wish there was more competition in the mining hardware scene. i feel like there still is a dire need for more companies in other countries that get into ASIC production.
last year when price was rising fast i heard a lot of news about many different companies (like in Japan and Russia,...) were getting in. but i never found out what happened to them. did they eventually start their production or did it die there?

Given that raw materials, manpower services and cost of production is significantly lower in China, other companies that will try to compete against the Chinese in making ASICs would be placed on a losing battle. We all know that these dudes want to get the best possible profit margin for their sake, and how would that be possible if BITMAIN can put up crazy competitive prices but still be in profit in the end? The Japanese can become a likely competitor, but for now it will be BITMAIN who will be catering for a the demand in the mining market while other companies are still thinking of setting up their own firm.

that is not a reason for other companies for not entering the market. as there currently are thousands of different products that are being created by other companies in other countries although there are competition in China.
and not to mention that this is not my assumption, this was about those companies that actually claimed they wanted to start production! so they must have known something and had plans on making profit in this market that they begin their work.

[squatter]

Any word on the specs? There's nothing on Bitmain's site that I can find, and the articles just cite the chip efficiency that Jihan claimed a couple months ago.

Crypto’s mining titans have been hot on each other’s heels to compete for the edge in advanced mining hardware;

i wish there was more competition in the mining hardware scene. i feel like there still is a dire need for more companies in other countries that get into ASIC production.
last year when price was rising fast i heard a lot of news about many different companies (like in Japan and Russia,...) were getting in. but i never found out what happened to them. did they eventually start their production or did it die there?

Halong Mining went silent several months ago. They sold out their first batch or two and that was it. Various companies like Obelisk believe that Bitmain is "playing dirty" and convincing Chinese manufacturers to cut off other ASIC producers like Obelisk and Halong.

GMO released a 7nm miner earlier this year. I think it's been sold out for a while. As mentioned in the article, Bitfury recently launched a new 14nm miner.

That's all I can think of off the top of my head. It seems like Bitmain has definitely got other companies out-scaled. I think all the hype last year really underestimated their capital, scale and ruthlessness.

[zhanyiguai261315]

Chinese businessmen always like to chase interests!
They always like to invest in modern hot projects!
Blockchain technology is currently considered to be a technological innovation with great potential and imagination in the international arena. China is vigorously developing blockchain technology, and cryptocurrency is developing rapidly in China!

[kzozenberg]

Often speaking, I have never invested in mining. I think that you need to invest a very large amount to start making good money, and buy a pair of Asic is for students. But I like this company it has a good product and its computing power !

[stompix]

Given that raw materials, manpower services and cost of production is significantly lower in China, other companies that will try to compete against the Chinese in making ASICs would be placed on a losing battle. We all know that these dudes want to get the best possible profit margin for their sake, and how would that be possible if BITMAIN can put up crazy competitive prices but still be in profit in the end? The Japanese can become a likely competitor, but for now it will be BITMAIN who will be catering for a the demand in the mining market while other companies are still thinking of setting up their own firm.

Actually, Bitmain's chips are produced by TSMC and are actually made in Taiwan not in the China fab.  

i wish there was more competition in the mining hardware scene. i feel like there still is a dire need for more companies in other countries that get into ASIC production.
last year when price was rising fast i heard a lot of news about many different companies (like in Japan and Russia,...) were getting in. but i never found out what happened to them. did they eventually start their production or did it die there?

There is far more competition that a few years ago..
For w while the s9 was clearly losing market share in favor of Inno's T2 and the T3 just got announced, a lot of miners are also still looking into Avalon with its 841, the pangolin miners and many more

Unfortunately, GMO's miner was quite a flop, even if it supposed to have a breakthrough 7nm chip.
Never heard of anything coming from Russia

Any word on the specs? There's nothing on Bitmain's site that I can find, and the articles just cite the chip efficiency that Jihan claimed a couple months ago.

Only speculation on both S15 and T15 till now, and the hashing rate are just too far away in each rumor.
I doubt they would be able to pull 35TH at 1400W as some claim, but...who knows

[teilwalL05]

My Opinion with this mining RIG are like mobile phones these days, they will keep on upgrading and enhancing the moment a slight need for power is needed to mine a type of coin but well you can certainly mine with the old version of the RIG but keeping you updated with the new ones will surely be helpful in the procedure of your mining equipment, This new mining hardware will sure be helpful in accumulating their speed in solving for blocks.

But I really think that mining is not for everyone and everyone would sure require knowledge in handling one, It will surely involve the place to mine, electricity bill, internet connection speed, and a lot of patients. 

[jtipt]

Chinese businessmen always like to chase interests!
They always like to invest in modern hot projects!

Yeah that's spot on, there is no doubt bitmain is the leading manufacturer of mining hardware one reason behind this is the low electricity cost which is exploited.
And after all Chinese mining pools control majority of BTC's hashrate. It's just more profitable to mine there than in some western country like US, where the electricity costs are way too much.

[messito]

consistently with the release of new equipment, the price of bitcoin increased. I hope that this time everything will be the same

[franky1]

I truly dislike Bitmain but if they just had decided to shutup and be a hardware company I would be more excited for them.

1. the chips are made in taiwan not china.
2. the chips are made by a different company
3. different companies can buy the chips and then create their own device/circuits and sell their own asics rigs
3. the pools such as "antpool" are several farming facilities. (china, mongolia, georgia, icelnd, usa) *
4. ran by separate companies as sublease *
5. ran by different people. *

* you can notice this easily by the half dozen different coin reward addresses being reused. rather than just 1
(yep some even use bech32 addresses as their coin reward myth busts that they are "wu" single minded**)

more importantly
mining pools do not program the rules of bitcoins protocol. they can only collate(gather) transactions into a block formation that set protocol (CODED BY CORE) allows them. else the blocks get rejected.

so here is the question.
now the "china 50%".... "jihan runs it all"...  myths are busted.
what is your dis-like?

is it the reality or the reddit/twitter propaganda** that decided your dislikes?

** reddit/twitter PR can lie. but data in a blockchain is immutable so which would you turn to as source of real stats/data

[squatter]

Only speculation on both S15 and T15 till now, and the hashing rate are just too far away in each rumor.
I doubt they would be able to pull 35TH at 1400W as some claim, but...who knows

Indeed, I just noticed those claims while reading through the Mining speculation subforum and was about to repost them here. Experienced miners say "too good to be true" -- sounds like it just based on the stated chip efficiency. I guess we'll find out in a couple days when they officially release the specs.

I suppose we should expect some steep increases in difficulty when these start hitting the market.

[stompix]

1. the chips are made in taiwan not china.
2. the chips are made by a different company
3. different companies can buy the chips and then create their own device/circuits and sell their own asics rigs

Nope, you can't.
Those chips are made by TMSC for Bitmain only, is not like TMSC is selling the chips to any other party, the only way you can get those is from Bitmain and they don't sell.
Bitfury is the only company that designs them and sells them directly with a min order of 500.

[franky1]

3. the pools such as "antpool" are several farming facilities. (china, mongolia, georgia, icelnd, usa) *
4. ran by separate companies as sublease *
5. ran by different people. *

* you can notice this easily by the half dozen different coin reward addresses being reused. rather than just 1
(yep some even use bech32 addresses as their coin reward myth busts that they are "wu" single minded**)

is it the reality or the reddit/twitter propaganda** that decided your dislikes?

** reddit/twitter PR can lie. but data in a blockchain is immutable so which would you turn to as source of real stats/data

My dislike is their backdoors that have been built into their machines and having to use things like braiins to get the performance without their backdoors.

backdoor
the firmware is open source. you will be shocked at who is involved.
also the performance advantage is so that bitcoin users can gain 20% hashpower. this is to stop some outsider from making hardware.
in short better for us to use it. then to follow twitter advise and no one uses it but the gt shocked and cry when "bankers/government" use it instead.

EG if you had a car race would you follow twitter advice to avoid using a racecar with 240mph top speed. and only use a racecar of 200mph.. then cry if a banker turns up and they decide to us a 240mph vehicle?....
kinda funny for the reddit/twitter propaganda groups to say dont use a car with turbo/NoS boost

Antpool also ignores segwit transactions if I'm not mistaken, which is pretty shitty. They just want to continue to push their partnership Bcash coin and lower transaction amount via ignoring segwit.

fresh off the blockchain.... not reddit/twitter
https://www.blockchain.com/btc/block/00000000000000000018a65ff0bbbc2a93493c693d05dd65c6a8dcbb881f55fb
notice transactions in that block
https://www.blockchain.com/btc/tx/7ab7b7a7f5fe7465f9622d46ae59553396f8e6ee3691497056f27099fecdeb94