blog.bitmain.com

Cryptocurrency, Bitcoin, Bitmain and more...

Category: Cryptocurrency News (page 1 of 4)

Bitmain Officially Launches the New Antminer T19, Available for Purchase Today on Bitmain’s Official Website

SINGAPORE, 01 June 2020 – Bitmain officially launches the Antminer T19, a new Antminer from the next-generation Antminer 19 series.

The Antminer T19 is the third model released from the latest generation of Antminers proudly developed by Bitmain. The T19 is equipped with a hash rate of 84 TH/s ± 3% and has a power efficiency of 37.5 J/TH ± 5%

The Antminer T19 is housed with the same generation of custom-built chips found in the Antminer S19 and S19 Pro, ensuring capable and efficient operations for mining cryptocurrencies under the SHA256 algorithm.

Comparing with the previous Antminer T17, the T19 greatly improves performance, allowing miners to achieve better efficiency and earnings.

The T19 also utilizes the new APW12 power supply and upgraded firmware, which offers faster start-up speeds for an optimized mining experience. Miners can expect the latest technologies found in the new model and begin selling on the official website on 01 June 2020, 11:00 (GMT+8) with a shipping date from June 21-30, 2020.

The Antminer T19 specifications are available on Bitmain’s official website.

To prevent hoarding and to ensure that more individual buyers can purchase miners in this batch, we have set a limit of 2 miners per user. For further sales inquiries, please contact Bitmain’s specified sales teams based on your region:

Selling Time: 01 June 2020, 11:00 (GMT+8)

Shipping Date: June 21-30, 2020

North, Central, South America:

Contact: sales.ncsa@bitmain.com

Europe, the Middle East, and Africa & The Commonwealth of Independent States:

Contact: sales.emeacis@bitmain.com

Asia Pacific: 

Contact: sales.apac@bitmain.com

---------------------
Liked this article? Share it with others:

Facebooktwittergoogle_plusredditpinterestlinkedin
Follow Us for Latest News & Articles:

Facebooktwittergoogle_pluslinkedin

The story behind the ASIC evolution

When Bitcoin mining first started in 2009, it was considered a niche hobby for cryptocurrency enthusiasts. Since then, it’s grown into a billion-dollar industry – with Bitmain leading this growth since 2013.

Bitmain’s entrance into the mining market in 2013 saw the emergence of the ‘ASIC era’, as the company sought to bring ASICs to the masses. Specifically designed to mine cryptocurrencies, the demand for ASICs has since continued to grow alongside the advancement of the bitcoin mining industry.

BTC mining: from hobby to global industry

Back in 2009, the only hardware needed to mine Bitcoin was a simple home computer (provided it had reasonable specifications). These computers would run standard multi-core CPUs, which would produce BTC at a rate of 50 per block. This would equate to a few dollars of profit per day.

Fast forward ten years and Bitcoin mining generated five billion U.S. dollars in revenue in 2019. Despite industry growth volatility, these figures suggested an overall increased demand for bitcoin miners.

These demands first accelerated in October 2010, when the code for mining bitcoin with GPUs was released to the general public. Although the public was able to mine bitcoin for themselves, it quickly became evident that it was still not easy for GPU users to scale hash rates. So, it was only once FPGAs were introduced that mining really began to scale, as FPGAs are more power-efficient than GPUs.

By 2012, the mining industry was advanced even further with the adoption of ASIC technology. These miners were carefully designed for the specific use of mining cryptocurrencies, replacing the need to tweak the field-programmable component of FPGAs after purchase. As there will always be a need and approach to making a specific computation more efficient, ASICs were a natural progression in the Bitcoin mining industry.

Antminer is born

By November 2013, Bitmain introduced its very own ASIC: the Antminer S1, which had a hash rate of 180 GH/s. Just a few months later, the Antminer S2 model was released, with a significantly higher hash rate of 1 TH/s.

Bitmain’s ASICs were quickly getting more powerful, and more energy-efficient over time.

Antminer S1: Launched 2013

Rapid rise of Antminers as BTC makes history

Over the next few years between 2014 and 2019, Bitmain released numerous Antminer models to the market. In 2014 alone, Bitmain released miners such as the Antminer S2, S3, S4, and S5 – all with the aim of providing more efficient and profitable hardware to miners in order to keep up with the demands of the growing bitcoin mining industry.

On top of this, Bitmain launched the AntPool mining pool in 2014, further highlighting Bitmain’s commitment to helping decentralize the bitcoin network and put the majority of hashing power into the hands of consumers. This commitment was further highlighted in Bitmain’s 2015 launch of BTC.com, which introduced the top-leading blockchain explorer that efficiently offered users all information on the network. By 2016, BTC.com also launched its own pool platform.

With BTC making its historic price run in 2017, Bitmain continued to release batch variations of the S9 as well as entirely new models, such as the Antminer T9 which had a hash rate of 11.5 TH/s.

As the Bitcoin market continued to grow, Bitmain released 8 SHA256 models throughout 2018.

As the Bitcoin market continued to grow, Bitmain released the Antminer S15 in 2018, which was launched at the World Digital Mining Summit. The Antminer S15 provided long-term energy efficiency through its use of Bitmain’s 7nm chip that integrates over 1 billion transistors per unit.

By 2019, Bitmain had introduced its most popular Antminer models to date: the Antminer 17 Series.

Antminer Design Advancements

Antminers and the future of mining …

Since 2013, Bitmain has shown commitment to developing new technologies that overcome the new challenges of mining – and the significance of Bitmain’s advancements makes them leaders by example in the field.

Today, Bitmain continues to pursue its vision of bringing the future of mining to all. And that is why Bitmain has released the Antminer S19 and Antminer S19 Pro models, featuring hash rates of 95 TH/s and 110 TH/s respectively. The Antminer S19 series represents the evolution of Bitcoin mining, from the very first Antminer S1 to the ever-popular Antminer S9, reaching the present-day Antminer S19. The mining community has taken great leaps of development.

New Genenration Antminer S19 and S19 Pro
---------------------
Liked this article? Share it with others:

Facebooktwittergoogle_plusredditpinterestlinkedin
Follow Us for Latest News & Articles:

Facebooktwittergoogle_pluslinkedin

Bitmain’s Antminer E3 Firmware Update

The Antminer E3 will be able to continue mining Ethereum through the latest update from Bitmain.

Recent media reports have stated that Bitmain’s Antminer E3, the hardware designed for mining Ethereum (ETH) and Ethereum Classic (ETC), will allegedly stop Ethereum mining by April 2020

These reports were based on calculations made by altcoin mining pool 2Miners, which highlighted the recent drop in the hash rate output of Antminer E3 mining rigs on the Ethereum Classic network.

This drop suggested the E3’s hardware was approaching obsolescence but thanks to new firmware the miner can continue to mine Ethereum.

Launch of new firmware

To ensure Bitmain can provide efficient mining equipment for the Ethereum community, it has launched a new firmware to support the Antminer E3. This new firmware has been designed to allow miners to continue using the Antminer E3, even after March 2020. 

This new firmware addresses the prior issue of the growth of directed acyclic graph (DAG) files, which limited the capability of the Antminer E3s for mining ETH or ETC. This new firmware will expand the usage of Double Date Rate (DDR) Memory, as more space is needed to process DAG files

So, how long will the Antminer E3 last?

Thanks to the new firmware, Antminer E3’s can continue mining for the foreseeable future. The new firmware has been designed to better support the Antminer E3, and so Bitmain is confident that miners can continue using the hardware past April 2020. 

With the new firmware update, the final approximate block height of the Antminer E3 is 11,400,000. According to calculations, mining can continue until October of 2020.

---------------------
Liked this article? Share it with others:

Facebooktwittergoogle_plusredditpinterestlinkedin
Follow Us for Latest News & Articles:

Facebooktwittergoogle_pluslinkedin

Bitmain Announces Specs for Next-gen Antminer S19 and S19 Pro Coming Soon

SINGAPORE, 27 February 2020 – Bitmain is officially announcing the new Antminer S19 and S19 Pro, two new Antminers offering incredible performance.

The next-generation Antminer S19 and S19 Pro come in two variants. The Antminer S19 is equipped with a hash rate of 95 TH/s, while its other variant has a hash rate of 90 TH/s, both variations have a power efficiency of 34.5±%5 J/TH.

As for the Pro version, hash rates and power efficiency are further improved. The Antminer S19 Pro features a hash rate of 110 TH/s, while its other variant has a hash rate of 105 TH/s, both variations have an impressive power efficiency of 29.5±%5 J/TH.

The Antminer S19 series is equipped with a new generation custom-built chip from Bitmain, achieving a power efficiency as low as 23 J/TH. This was achieved by enhancing the circuit architecture, greatly improving power efficiency.

Utilizing the new APW12 high-conversion efficiency power supply, the Antminer S19 and S19 Pro achieve enhanced stability. New firmware also introduces faster startup speed and an intelligent control mechanism to ensure the best mining experience.

The next-generation Antminer 19 series showcases industry-leading technology from Bitmain, allowing miners to efficiently mine Bitcoin under the SHA256 algorithm. The new iteration of Antminers boasts superior performance, enabling miners to optimize earnings and is designed for better operations ensuring long-term operations.

As the Bitcoin halving approaches with the price of block rewards to be reduced, the Antminer 19 series safeguards miners for future mining.

The Antminer S19 series specifications is available on Bitmain’s official website.

For further sales inquiries, please contact Bitmain’s specified sales teams based on your region:

North, Central, South America:

Contact: sales.ncsa@bitmain.com

Europe, the Middle East, and Africa & The Commonwealth of Independent States:

Contact: sales.emeacis@bitmain.com

Asia Pacific: Contact: sales.apac@bitmain.com

---------------------
Liked this article? Share it with others:

Facebooktwittergoogle_plusredditpinterestlinkedin
Follow Us for Latest News & Articles:

Facebooktwittergoogle_pluslinkedin

Five highlights for the digital mining sector from WDMS ‘19

The digital mining sector is only just ramping up and this year’s World Digital Mining Summit (WDMS) was proof of this. 

The second annual industry-wide gathering of the digital mining sector was met with great anticipation with numerous attendees including leading founders, decision-makers and industry experts.

Here are five major highlights from the summit.

1. Bitmain’s co-founder, Jihan Wu, shares four initiatives to drive innovation in digital mining

Jihan Wu speaking to the attendees of WMDS

One of the major points of discussion at the WDMS was about ways to innovate the digital mining sector and during his keynote, Bitmain founder, Jihan Wu, shared four of Bitmain’s initiatives.

First, that Bitmain will soon launch a service called the World Digital Mining Map to provide a better platform to connect mining hardware owners with mining farm owners. This service will be free for BITMAIN customers.

It currently takes too long to repair mining rigs. In response to this issue, Jihan shared that Bitmain’s second initiative would be to launch repair centers worldwide to help cut down the turnaround time for repairs to just three days by the end of 2019.

For its third initiative, Bitmain will also boost its Ant Training Academy (ATA) program on troubleshooting easy-to-fix issues. Mining farm operators can send their technicians to be trained at the ATA where they will graduate with a certificate, which qualifies them to provide services.

Launch of the new Antminer S17+ and T17+

Finally, to keep up with the industry’s changing demands, Jihan shared that Bitmain will launch two new types of mining rigs – the Antminer S17+ and T17+. He also noted that Bitmain’s research and development team had made solid improvements in the design of future mining hardware models. 

2. Matrixport’s CEO, John Ge, shared the company’s vision and mission

John Ge, CEO of Matrixport

Another session that drew in crowds was the talk by John Ge, the CEO of Matrixport.

He shared that Matrixport’s vision was to be a one-stop-shop, which will offer custody, trading, lending, and payment services. With its close ties to Bitmain, John also pointed out that Matrixport would give miners an accessible opportunity to enhance their crypto portfolio.

In many ways, he mentioned that Matrixport would be similar to an online bank,where account holders can customize services according to their needs and delegate tasks to a broker to service it.

With trading engines that connect to most exchanges and also to OTC (over the counter) providers, Matrixport would also be best placed to choose the most ideal marketplace for each user’s needs, offering discounts and a tailor-made algorithm to secure a better price and high liquidity. The company will also make it possible to access capital without missing investment opportunities by acting as a lender to the market.

3. Industry leaders discuss the impact of the bitcoin block reward halving

Panel Discussion 1: Impact of the bitcoin block reward halving

The 2020 bitcoin block reward halving event was one topic that was top of mind at WDMS. To discuss the implications for the mining community, industry leaders – including Jihan Wu; Matthew Roszak, Co-Founder and Chairman of Bloq; Marco Streng, CEO of Genesis Mining; Saveli Kotz, Founder of GPU.one; and Thomas Heller, F2Pool Global Business Director – came together to share their insights.

On the previous two halving rounds, the overall sentiment from the panel was positive. However, Jihan also pointed out that there is really no way to know whether the halving triggered the price surge during both events. “We just don’t know, there is no scientific data to support any theory. Crypto itself has a lot to do with psychology, some people thought the world would end when the price dropped dramatically in the past. In the long run, this is a rather small event in this industry. This industry is driven by adoption and that is a trend which is increasing,” he said.

When asked about strategies for miners around the halving, a key theme from the panel was that keeping up to date with innovations would be essential. Jihan shared that one of Bitmain’s strategies was to focus on power efficiency regardless of whether the price remained the same or not.

4. Panel discusses the traditional finance and crypto finance ecosystem

Panel Discussion 2: Traditional finance and crypto finance ecosystem

The WDMS also covered developments in the crypto finance ecosystem. Interestingly the experts dedicated to this panel all came from traditional finance backgrounds before entering the crypto sector. This included: Cynthia Wu, Matrixport Cactus Custody (Chair); Tom Lee, Head of Research, Fundstrat Global Advisor; Joseph Seibert, Managing Group Director, SVP of Digital Asset Banking at Signature Bank; Rachel Lin, Matrixport Head of Lending and Payment; and Daniel Yan, Matrixport Head of Trading.

On mainstream adoption, Rachel said that in time, authorities will have to catch up, as examples like Libra show. Adoption from the traditional finance sector ranges in many ways. Daniel shared about interested hedge funds, which eventually shied away from investing in cryptocurrencies because of regulatory insecurities and risks. Still, he believes this to be a gradual development and is convinced that it is good to go slow to give traditional players a chance to adapt to the changing environment. 

When asked for a product that miners and the industry are in dire need of answers from the panelists ranged from better user interface and better interoperability, second-layer solutions over securitisation of assets and stable managing products to any product that is developed with client feedback to make sure that it will be a sustainable solution for the entire market that people will really use.

5. The top ten mining farms announced

WDMS: Winners of the Top 10 Mining Farms

To provide a platform for mining farm owners to share and exchange insights, Bitmain launched the search for the “Top 10 Mining Farms Around the World”. The contest was an invitation to those in the global mining industry to vote for the most innovative operations out there.

The top 10 mining farms were chosen based on what miners preferred the qualities a perfect mining farm must possess. Important qualities include but are not limited to the mining farm history, the condition of the mining farm, operation and management of the mining farm.

Winners from the top ten mining farms: Etix, Coinsoon, MineBest, GPU.One, Enegix, Bitriver, Block One Technology, CryptoStar Corp, DMG, and RRMine.

In order to further develop providing the industry with new opportunities and partnerships, preparation of the next World Digital Mining Summit will soon begin. The next summit will invite new and old attendees from the blockchain and mining sector to again be part of the world’s largest dedicated mining conference. 

---------------------
Liked this article? Share it with others:

Facebooktwittergoogle_plusredditpinterestlinkedin
Follow Us for Latest News & Articles:

Facebooktwittergoogle_pluslinkedin

First accredited ATA course completed. Improvements in Bitmain’s after-sales services will be highlighted at WDMS 2019

On the 17th of August, the Ant Training Academy (ATA)’s first ever Level 2 Maintenance Training course,with a cohort of fifteen students, successfully came to a close.

The Academy, developed by Bitmain, will continue to launch new courses and certifications to provide professional development opportunities across the industry, and to set a new global standard for cryptocurrency miner maintenance.

Raising the standard of after-sales service by nurturing maintenance professional development

Ant Training Academy

“The course and materials are very professional and practical, which cover the main models on the market. From the two weeks of course, I have gained a deeper understanding of power supply maintenance and circuit analysis,” remarked one of the successful students, who now holds a Level 2 Certificate of Accomplishment.

The course has been designed to focus on the maintenance of mining machines, teach basic skills of power supply reparations and welding, and to enhance the capacity and drive of enrolled students.

“It is Bitmain’s mission to continuously nurture professional maintenance personnel to the industry and build ATA course certificates to be a global standard for cryptocurrency miner maintenance,” said Andy Niu, Bitmain’s Customer Service Manager.

The course will continue to run for the rest of the year, with an additional classroom being opened up to increase admissions and reduce waiting times for enrolled students. It now opens intake for the Level 1 Maintenance Training session running from 11-23 November 2019 and two Level 2 Maintenance Training sessions running from 23 October – 5 November and 27 November – 10 December 2019.

Bitmain will reveal details on its new after-sales service strategy at the World Digital Mining Summit (WDMS) this October

At this year’s WDMS, in Frankfurt, Germany,  from 8th – 10th October, Bitmain will map out the entire after-sales service ecosystem, outlining the industrial supply management chain, through to the consultation, technical support, product support and maintenance services that are available to customers.

Bitmain will also outline the strategy, new initiatives from the after-sales services team and address some of the concerns currently facing the industry.

Apart from that, the two-day summit features industry investment and innovation for the mining sector. Major thought leaders include Jihan Wu (Bitmain Co-Founder), Micree Zhan (Bitmain Co-Founder & Chairman), John Ge (Matrixport CEO) and Marco Streng (Genesis Mining CEO), as well as top brands will present at this year’s summit. 

Participants of the WDMS can also expect panel discussions on Bitcoin Block Reward Halving and Traditional Finance and Crypto Finance Ecosystem, and networking dinners and opportunities of growing their network and business.

For further information and tickets to the WDMS, please visit: https://miningconf.org/

---------------------
Liked this article? Share it with others:

Facebooktwittergoogle_plusredditpinterestlinkedin
Follow Us for Latest News & Articles:

Facebooktwittergoogle_pluslinkedin

Bitmain’s 4th Crypto Mining Forum in California promotes enhanced resource management and pre-announces upcoming new miner

The highly anticipated conference hosted industry leaders who shared insights on new initiatives to support the mining ecosystem and initial details on upcoming miner models

Attendees at the CMF in California


USA, CALIFORNIA SEP 04, 2019 – Bitmain – the world’s top 10 fabless chipmaker – hosted the 4th Crypto Mining Forum (CMF), a full day mining event which promotes initiatives for miners in the North Central South America region. 

The event provided attendees with in-depth analysis and insights on the cryptocurrency mining industry with a special focus on how Bitmain provides enhanced services for current and future customers. 

The CMF also provided attendees the opportunity to speak, share ideas, network, and discover new resources from Bitmain and other participants. The event included a variety of customer-focused keynote speeches, panel discussions on the topic of mining optimization in the NCSA region and the awarding of the Antminer Pizza Campaign. 

During his speech, Bill Zhu, Bitmain’s Managing Director of Marketing, Sales & Service shared how Bitmain’s innovative mining ecosystem provides end-to-end support for miners from purchasing, to after-sales, hosting services, and financing. Zhu also announced that Bitmain will be releasing new Antminer models in the following weeks.

Bill Zhu, Managing Director of Marketing, Sales & Service discussing Bitmain’s new mining ecosystem

There were also discussions on how Bitmain would better help its customers plan and adjust for future fluctuations. Sharif Allayarov, Bitmain’s NCSA Regional Director, explained how the company has improved the product purchasing experience, incorporated pre-order agreements as well as purchase agreements from the standard purchasing process. 

CMF Panel Discussion: Mining Cost and Revenue Management [Nathaniel Yu, Dave Perrill, Ivan Yuan, Roozbeh Ebbadi, Philip Salter, Shirley Tong, Robert B. Ladd]

Andy Niu, Bitmain’s Customer Service Manager also shared how an improved support system can better serve its customers through its after-sales service and the newly launched Ant Training Academy. He also revealed new plans to strategically launch repair centers in the USA and across different countries to decrease miner downtimes. 

The CMF also involved discussions on hosting services for miners, Nathaniel Yu, International Marketing Manager explained more about Bitmain’s mining farm evaluation system and big data report, which will take place during the WDMS 2019 this coming October 8-10 at Frankfurt, Germany.

Lastly, Daniel Yan, Founding Partner and SVP of Trading, Matrixport discussed how the company can offer its financial services which benefit miners through trading, lending, and custody. Miners could take Matrixport as a one-stop-shop to fulfill all their crypto-financial needs, from liquidating/hedging their coin holdings, getting loans or safeguarding their crypto assets.

BTC.com’s Jane Hu, COO and Antpool’s Eric Wang, Operations Manager also attended the CMF event to discuss the future of mining pools and new services, which continues to service the sector globally to support cryptocurrency mining operations.


---------------------
Liked this article? Share it with others:

Facebooktwittergoogle_plusredditpinterestlinkedin
Follow Us for Latest News & Articles:

Facebooktwittergoogle_pluslinkedin

A look at the living legacy of the Antminer S9 SE & S9k

The Antminer S9 launch coincided with the starting gun for the great bitcoin bull run of 2017, which led to never-before-seen highs of $19,783. Much like Bitcoin, it has remained a strong part of the cryptocurrency industry ever since. 

During the spike in mining activity leading up to 2017, hardware was struggling to keep pace with the difficulty of the algorithm, as many miners joined the industry.

The launch of the Antminer S9 in May 2016 offered improvements of up to three times on existing models, which marked a change in delivering a higher hash rate without decreasing energy efficiency. 

Able to mine under the SHA256 algorithm at a rate of 14 TH/s, the S9 quickly came to dominate the cryptocurrency mining industry, with each batch selling out within a few hours. It offered a significant increase in ROI – one that was unparalleled by other miners at the time.

Ever since, the Antminer S9 has remained in high-demand, as seen with ongoing requests about the next batch.

In fact, the Antminer S9 remains one of the most used miners ever up to this very day. It was the world’s first Bitcoin miner to make use of 16nm chips, a powerful chip that continues to power the world’s most power-efficient bitcoin miner.

Launching a new generation of Antminer S9 models marks the perfect opportunity to review the progress made since the first S9 hit the market.

Evolution: The next steps

Antminer Series Evolution

Launched at the height of the bull run, Bitmain engineers worked tirelessly to improve the Antminer S9’s performance.

The team managed to release the Antminer S9i just a year later, on May 2018, followed by the improved Antminer S9j, mere months later in August 2018. Each model offered an improved hashing rate of 14.5Th/s, whilst achieving a reduction in energy consumption.

In that same August, Bitmain started to experiment with more ecologically minded means of running and cooling down miners with the Antminer S9 Hydro and its water-cooling system. It was able to operate with a hashrate of 18 TH/s, whilst maintaining a lower noise level and running an improved cooling mechanism.

In this period of intense growth, it was important for the mining community to be supplied with the best technology there was, without diverting too much from industry-wide long-term goals and developments.

Entering a new chapter

With no sign of demand for the S9 models slowing, Bitmain has continued to work on making this model more efficient and more affordable than ever.

A new design structure was introduced for the S9 Special Edition (SE) and the S9k, achieving an enhanced performance whilst limiting power consumption. The S9k hashes at a rate of 13.5 TH/s, with a remarkable power-efficiency rating of 85 J/TH. 

The S9 SE takes it one step further – delivering a hashrate of 16 TH/s whilst achieving an even better power-efficiency rating of 80 J/TH, and only weighing in at a modest 4.5kg, making it the most energy efficient of the Antminer S9 series. 

The original Antminer S9 was revolutionary at the time with its 14 TH/s hash rate, but demanded 100 J/TH; an additional 15-20% more energy, which eats into mining profits.

The Antminer S9 SE breaks even a bit over 3 months – based on the price of Bitcoin at the time of this writing. That said, miners with access to cheaper electricity or renewable energies can be seeing pure profits even earlier. This is a marked improvement on the standard set by the S9, and one that will be continually improved on.

In such a rapidly-evolving space as cryptocurrency mining, engineers never know where exploratory developments will take them, so it’s always an exciting day to unveil an improved product.

As new means of mining continue to be developed, it is important to uphold the legacy of the models that paved the way.

---------------------
Liked this article? Share it with others:

Facebooktwittergoogle_plusredditpinterestlinkedin
Follow Us for Latest News & Articles:

Facebooktwittergoogle_pluslinkedin

As bitcoin price rises, Bitmain sees an increased interest in Antminers at Bitcoin2019

Cryptocurrency mining can only succeed if there is a community of miners and enthusiasts, so Bitmain was glad to participate in the Bitcoin2019 conference in San Francisco last week.

With Edward Snowden giving a virtual address, and a programme packed with countless founders, BUIDLers and C-level cryptocurrency history-makers, this was an audience that came because it cares about the future of Bitcoin, and cryptocurrency’s global potential for disruption.

Antminer Booth in Bitcoin2019

In the exhibition hall, the Antminer booth was packed with interested attendees who were looking to learn more about the Antminers currently on the market, and how to get started in cryptocurrency mining. Few things pique the interest of a bitcoin crowd like an imminent bull run.

Speaking to a buzzing audience on the Main Stage, Sharif Allayarov, the regional director of North Central South America, gave the audience a brief overview of Bitmain’s history, achievements, and Antminers.

Decentralizing knowledge 

With the background set, Sharif outlined the current state of Bitmain; clarifying the separate Bitmain brands, and each of their functions, before highlighting how they all fit within the blockchain industry, with a particular focus on service.

This offered an opportunity to provide insights into how Bitmain innovates and learns to best serve its customers, whilst also sharing how the company is growing at a pace it can maintain. 

Building on from Bitmain’s service repair training module comes in a newly updated program: The Ant Training Academy (ATA).

Promoting longevity in cryptocurrency mining

Ant Training Academy

As mining establishes itself as an industry, the bitcoin community has primarily taught itself how to fix Antminers and hacked together all sorts of genius solutions. 

In honour of their perseverance, and in order to extend the productive life of Antminers, Bitmain is establishing an academy to share the insights and techniques that keep Antminers operating for as long as possible.

This is also part of a commitment to pursuing sustainable ways to mine cryptocurrency, and developing innovations that serve customers throughout the product’s lifetime – not just at the selling point.

A continued commitment to improve the cryptocurrency mining ecosystem

In Bitmain’s six years, a lot has been learnt about the cryptocurrency mining ecosystem, as the company has grown alongside the ecosystem. It fits with a dedication to decentralisation to share that knowledge, and use it to strengthen the industry as a whole.

Swayed by the speech, Sharif was approached by throngs of audience members afterwards, keen to take his contact details to establish and further expand relationships to improve the cryptocurrency mining roadmap. 

The rising price of bitcoin has served to further fuel interest in hobbyist and aspiring enterprise miners alike, with questions ranging from the practicalities of which products best suit their needs, through to managing power efficiency and the best methods of maintenance.

It seems only apt that the cradle of technology innovation on America’s West Coast became the stage for a global audience to hear about this Chinese company’s renewed vigour in supporting all of its customers, worldwide.

---------------------
Liked this article? Share it with others:

Facebooktwittergoogle_plusredditpinterestlinkedin
Follow Us for Latest News & Articles:

Facebooktwittergoogle_pluslinkedin

Bitmain’s Jihan Wu Delivers Keynote at The Way Summit, Moscow

Today, Bitmain co-founder, Jihan Wu presented a keynote speech on the debate of Decentralization and Centralization in Proof of Work (PoW) at The Way Summit in Moscow, Russia.

The Way Summit is a leading international forum, held in Moscow, that brings together investors and talent from the West and East.

Jihan spoke alongside leading cryptocurrency influencer Roger Ver, Capital Markets Managing Director at Accenture, Michael Spellacy, and a selected number of industry thought leaders.

After explaining that in its essence, PoW is an economy model that is decentralized by design, Jihan went on to weigh upon its benefits to the cryptocurrency network.

The greatest threat to PoW, he argued, is centralization.

With PoW, the network is maintained through the established social contract between all network users meaning that the resilience of the network doesn’t just rely on a single node, ensuring greater security.

When PoW markets are centralized it can lead to market failure due to factors such as an artificial barrier to entry and price distortion caused by manipulation, Jihan explains.

There is also a common misconception that ASICs cause centralization whereas GPUs do not. Jihan busts this myth noting that centralization is a result of market failures and other factors, which exist even for GPUs. In fact, Jihan noted that ASICs can actually prevent centralization.

One of the key points he makes is that, higher profits for miners actually incentivises more miners to contribute to the network, expanding the mining user base.

With an expanded mining pool, networks are less susceptible to 51 per cent attacks.

Jihan’s insights were well-received by the audience of revolutionary-minded entrepreneurs, investors and individuals contributing to the community and offered a chance to reflect on how PoW algorithms and economic theory work in practice.

After connecting with a community who are powering the theory behind the development of blockchain economies, we look forward to bring with us new insights back to Bitmain.

Being a part of The Way Summit has been invaluable and helpful as we continue to develop leading technologies that empower all network participants and strengthen the network.

---------------------
Liked this article? Share it with others:

Facebooktwittergoogle_plusredditpinterestlinkedin
Follow Us for Latest News & Articles:

Facebooktwittergoogle_pluslinkedin
« Older posts

© 2020 blog.bitmain.com

Theme by Anders NorenUp ↑