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Category: Cryptocurrency News (page 1 of 6)

CMF North America: The Current State and Future of the Cryptocurrency Mining Industry

On April 13, Bitmain held the Crypto Mining Forum (CMF) online for the North American Region. Antminer, AntPool, along with key customers and strategic partners all participated in the forum to deliver solid speeches and panels, aiming at bringing together the top leading mining companies’ insights on the current state and the future development of the cryptocurrency mining industry in the region.

Bitmain, Antminer, and AntPool Continues to Empower Users and Mining Industry

The cryptocurrency mining industry has entered a new stage of maturity and stability. Since Bitmain’s establishment in 2013, the company has spared no efforts to develop advanced technologies and innovations to move the industry forward.

Main Speakers

At the forum, Irene Gao, Sales Director of NSCA, Antminer, announced the new global sales strategy from Bitmain. The company will adopt an ordering method with insured clauses for users. To better meet the growing market needs for mining hardware, Antminer recently introduced an annual batch order purchase for the Antminer S19j Pro. Featuring a strong hash rate at 100 TH/s and a low energy efficiency ratio of 29.5 J/TH, the miner can truly bring a long-term investment value to customers.

Eric Wang, North American Operations Manager at AntPool, introduced the mining pool development. According to Eric, in recent years, he has witnessed a significant hash rate growth in the region and forecasts that the region will continue to grow.

To better empower miners, Bitmain announced at the CMF, the company will develop a global mining map to assist customers in finding the best/new locations for new facilities set-up. Besides, Bitmain will establish more cooperative mining centers in North America to empower the industry to flourish and promised to meet the goal of repairing miners in the region to achieve a turnaround time (TAT) of 3 days. As the world’s leading cryptocurrency mining platform, AntPool will continue to provide miners with more easy-to-use, safe and efficient services, bringing rich and transparent income for miners.

Foundry: Hardware Becomes the Focus of Bitcoin Mining Race

Michael Colyer, CEO of Foundry, the cryptocurrency mining subsidiary of Digital Currency Group (DCG), shared his observations and predictions on the current mining market. He said that due to the continuous advancement of Bitcoin mining technology, the mining industry’s demand for chips is competing with other cutting-edge technology companies such as Samsung and Apple, resulting in insufficient global chip supply and a situation of grabbing chip resources. Meanwhile, institutional miners have entered the game, making it harder for people to get miners, and resulting in more competition as intuitions have strong access to investments.

The specialty of the North American market is that companies have access to capital markets. Therefore, more and more companies are planned to go public in the next six months. Moreover, many energy companies have also begun to investigate the Bitcoin market, considering its huge growth potential and will be become more active over time.

In terms of the industry opportunity, Michael pointed out mining hardware will be a great investment option, as most of the mining products can continue to operate for 4-5 years, which will bring a long-term investment value to miners.

State of Mining 2021: Large Scale Operation with Green Development

Panel Discussion 1 Speakers

Moderated by BitOoda CEO Tim Kelly, Core Scientific Chief Customer Success Officer Russell Cann, Greenidge Chief Mining Officer Greg Ohanessian, Crusoe Energy CEO & Co-founder Chase Lochmiller and Crusoe Energy President & Co-founder Cully Cavness joined the panel themed in the State of Mining in 2021.

At the panel, discussers pointed out that as more and more users and institutions have joined the camp, the mining industry is no longer as fragmented and rough as the “wild west”, but it is now moving forward into a stage of institutional miners at a large scale. At present, larger financialization is happening in the space, which increases ways to finance the industry such as debt financing.

Moreover, mining companies pay more attention to relevant regulations and will also increase investment in environmental friendliness. The panel highlights that driving green energy for mining will bring more opportunities and will be crucial for the future.

In the United States, there is an interrelationship between energy and mining. Experts predict that the use of renewable energy and innovative technologies will become a new trend in the development of the mining industry. On one hand, more miners will attach more importance to the relations between mining and sustainable energy and will use renewable energy to promote the reduction of power consumption. On the other hand, the development and application of immersion mining technology is a future trend to keep an eye out for, which can effectively improve energy efficiency ratio of mining hardware, prolonging the life of miners, and provide mining companies with opportunities to open in better mining locations since favorable mining locations are usually in harsh environments.

Energy suppliers also starting to understand the mining industry’s demands, providing more resources and services for large-scale digital mining. Hosting service is also growing, as it comes with advantages such as low electricity prices and professional management.  

In the next few months, miners should consider that more hash rate will be added once mining companies receive their future orders, which can affect the profitability of mining. Altcoins, which provide different innovations, can be considered, nevertheless, Bitcoin will be the core cryptocurrency from a long-term perspective.

Trends & Innovation: New Business Model and the Influx of Institutions

Panel Discussion 2 Speakers

Gemini Asia Pacific Business Development Bureau Director Eugene Ng, Atlas Mining Founder Raymond Yuan, DMG CEO Sheldon Bennett, Clean Spark CEO Zachary Bradford, and Luxor Co-founder & CFO Ethan Vera discussed and predicted the mining trend and innovations at the second panel.

The panel pointed out the new trends in the mining industry. First, the adoption of cooling system leads the new trends, as immersion cooling provides the same hash rate with less power consumption.  Far more important, driven by the vigorous development of the Bitcoin mining industry along with multiple favorable factors, a large number of new investment institutions have entered the market, bringing in a new business model, i.e., the financialization of hash rate.

The influx of investors and institutions is just the beginning. When more speculators participate in the cryptocurrency mining field on a large scale, it will open the door for other digital currencies, and the cryptocurrency market will usher in more opportunities. In terms of technological innovation and application, topics were discussed at the panel around software upgrades, financial tools, and energy improvements to reduce mining costs.

The North American session of the Cryptocurrency Mining Forum was successfully concluded. The CMF Forum is a series of global events held by Bitmain, aiming to build an information-sharing platform for the global mining industry’s discussion, prediction, and prosperity. The forum has been successfully held in Miami, Toronto, Kuala Lumpur, and in other cities before, which has gained extensive support and large popularity from Bitmain’s customers, partners, and miners around the world. Soon, the CMF Forum will set sail again in Europe (online), let us look forward to more exciting insights brought by the European section!

Video link to CMF North America

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Bitmain Officially Announces the Antminer S19j Pro Annual Batch Order Purchase, Opening Next Week

In view of the current strong market demand for mining hardware, Bitmain will officially launch an annual batch order purchase for the Antminer S19j Pro, which will be opening next week. Starting from August 2021, customers can receive a batch of Antminer S19j Pro every month for a period of one year.

The hash rate of S19j Pro is as high as 100 TH/s, boasting a low energy efficiency ratio of 29.5 J/TH, and the life cycle of the miner is expected to exceed 5 years. In addition, Bitmain’s excellent manufacturing quality and after-sales service will be a strong guarantee for a long-term investment to customers.

Due to the global shortage of chips, the order quantity of this batch is limited. Please contact the respective account manager to order.

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Bitmain Signs a Milestone Deal of 42,000 Antminer S19j miners with Riot Blockchain

Once the new miners are deployed, Riot Blockchain will nearly double its total hash rate to 7.7 EH/s

Hong Kong, April. 08, 2021 – Bitmain – the world’s leading producer of cryptocurrency mining hardware today announces a new purchase deal of 42,000 Antminer S19j miners with Riot Blockchain, Inc. (“Riot Blockchain” or “Riot”), a Nasdaq-listed cryptocurrency mining company.  A minimum of 3,500 Antminer S19j ASIC miners are scheduled to be delivered monthly to Riot starting in November 2021, and the rest are planned for receipt and deployment through October 2022.

The new $138.5 million purchase represents a robust strategic plan and a growth milestone for Riot to increase its bitcoin mining hash rate. Once the new miners are fully deployed, Riot is predicted to gain a significant hash rate growth to 7.7 EH/s, which nearly doubles the company’s previously estimated mining rate capacity of 4.0 EH/s by October 2021.

“We are excited for our long-term cooperation with Riot as they continue to solidify their growth and position as one of the global leading companies in Bitcoin mining. This growing partnership is also a strong proof of our S19j. The model has inherited Antminer S19 series’ remarkable hash rate and industry-leading manufacturing quality with excellent power efficiency. The new order of Bitmain’s next-gen Antminers will undoubtedly assure the rapid growth and the long-term investment of Riot’s mining operations”, said Irene Gao, Antminer Sales Director of NCSA Region, Bitmain.

“This long-term purchase order marks a major milestone in the continued expansion of Riot’s mining operations,” said Megan Brooks, COO of Riot. “Our existing fleet of miners has already positioned us as a public-company leader in Bitcoin mining. By nearly doubling our planned hash rate capacity, we are taking a great stride in growing our share of the global hash rate distribution. We are proud of this accomplishment and remain focused on continuing to evaluate additional opportunities in the space.”

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Leading the Market Through Long-Term Investments, the Second Batch of Antminer S19j was Quickly Sold out Again

The second batch of Antminer S19j was quickly sold out, which once again confirms the market’s full trust and confidence in Bitmain’s products.

Established with an excellent R&D and supply chain system, Antminer continues to provide customers with the most advanced computing power and power efficiency ratios in the industry, becoming a well-known choice for many long-term investment customers. The Antminer 19 Series inherits the excellent reliability, performance, and quality known from Bitmain, while also providing customers a comprehensive after-sales service to maintain and ensure high-quality mining operations. The life cycle of the 19 Series is expected to reach more than 5 years.

As the global digital currency mining industry enters into a new stage of large-scale and mature development, Bitmain will continue to develop computing power technology, enrich mining pool resources, mining farms, and cloud computing power platforms to provide customers with better products and services. Bitmain values long-term cooperation with its customers, and will work closely with everyone to cope with the changes and fluctuations in the digital currency market and achieve the strategic goal of win-win cooperation.

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The Second Batch of Antminer S19j Will Officially Go on Sale on March 02

In order to meet the strong market demand for Antminers, Bitmain will begin selling the second batch of Antminer S19j orders. The Hash rate of S19j is as high as 90 TH/s, with a power consumption of 3100W, and power efficiency ratio as low as 34.5 J/T. Bitmain will continue to provide customers with high-quality products guaranteeing quality and perfect after-sales service. The Antminer S19j is expected to operate for more than five years, providing miners assurance for long-term value investment. This batch of miners will go on sale on March 02, 14:00 (GMT+8), and is scheduled to be shipped in October!

For inquiries to order the second batch of Antminer S19j, kindly email the corresponding regional sales channels:

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Bitmain makes another wave, the first batch of Antminer S19j is sold out, order contracts were well received by long-term investment customers

Hong Kong, China, February 27, 2021, Bitmain – the world’s leading producer of cryptocurrency mining hardware announced that the first batch of the Antminer S19j after the Chinese New Year had quickly sold out. Due to the high demand, Bitmain is preparing the second batch to meet with customer’s high demand.

The Antminer S19j maintains exceptional mining capabilities from Bitmain, displaying advanced power efficiency and cost-effectiveness. Similar to the highly-established Antminer S9, the Antminer 19 Series is expected to exceed a 5 year mining lifetime. In addition, Bitmain offers excellent manufacturing quality and after-sales service to guarantee long-term value to investment customers.

As the global cryptocurrency mining industry enters a new stage of development, in terms of sales, Bitmain plans to launch a variety of services for long-term cooperation clients. Bitmain aims to adaptively respond to market opportunities and challenges to conduct joint value investments to achieve the strategic goal of creating up a win-win partnership.

Thanks to valued customer support to the Bitmain and Antminer brand, Bitmain will be holding the “2021 Bitmain Partner Summit” in Shenzhen, China on March 12. During this summit, Bitmain will announce its global sales strategy and introduce the new sales ordering model and other important developments.

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Ant Training Academy Releases 2021 Course Schedule

Sign Up Now to Get a Special New Year’s Deal and an Extra Surprise

Looking back into 2020, a year like no other, Bitmain’s Ant Training Academy (ATA) had made some significant and immediate adjustments to ensure trainees worldwide to receive effective training courses. Moving forward, ATA releases its 2021 S1 course schedule and prepares a special deal for early birds.

2020 Ant Training Academy Milestones

  • April — Domestic/overseas online maintenance training Launch
  • May — Global mining forum and GMF Chengdu Summit
  • June — Released onsite courses on power maintenance in China, optimized the course setup (mandatory and elective courses)
  • June — Strategic partnership with ViaBTC pool for ATA bursary program
  • July — Antminer S19 onsite maintenance training courses
  • August — Antpool online livestream event
  • October — Onsite training course upgrade in China (from Level ½ courses to long-term/short-term courses)
  • November —Antminer S19 online maintenance training courses
  • November — Bitmain mining summit
  • December — Year-end client reward.

2020 ATA’s Maintenance Training Course Data at a Glance

In 2020, Ant Training Academy held 13 onsite maintenance training sessions, with more than 90+ enrolled participants at a 100% qualification rate. 

Given the global impact of the Covid-19 pandemic, ATA also launched online courses in time to help those in need of Antminer maintenance training. In 2020, ten online training sessions were launched in China, while seven were held overseas, involving more than 140 trainees worldwide. Among those participating in the assessment, the certified rate of domestic trainees was 66.7% and 75% for the trainees overseas.

2020 ATA Trainees by Statistics

2021 New Course Preview and a Special Deal for Early Birds

2021, ATA will continue to upgrade and enrich training course offerings to meet the diverse needs of trainees, with more optimized professional guidance and practical experience.  2021 S1 training course schedule has been released, and are now open for application:

  • March 8th -20th   Domestic Online Training Course
  • March 15th -26th   Oversea Online Training Course
  • March 8th -20th   Domestic Onsite Long-term Training Course
  • March 15th -19th   Domestic Onsite Short-term Training Course

* Please note that the actual schedule is subject to specific arrangements

As a big part of the Bitmain community, ATA takes our trainee experience as a priority. Stepping into 2021, ATA has a special discount offer for early birds.

Those who complete new course registration and payment between January to April 2021 will receive:

  • $50 off coupon on course material purchase
  • A chance to win a $300 registration discount

Extra Surprise When You Share

Helping to spread the offer on your social media will get a chance to win an extra surprise. Between 2021 January 20th to 24th, share this post on your Facebook or Twitter, and we will give away a $20 off coupon for those who can get over 68 likes on their shared post.

Just remember to send us the screenshot of the post with your valid name, phone number, Antminer email address to [email protected] or Official Facebook/Twitter accounts. The coupon will be given to your corresponding official website accounts by January 31st, 2021.

Limited offers only. First come, first serve!

*Antminer serves the right to interpret.

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Bitmain Signs Another Deal of 15,000 Antminer S19 Series with Riot Blockchain, Empowering it with a Significant Mining Hash Rate Growth

Hong Kong, Dec. 22, 2020 – Bitmain – the world’s leading producer of cryptocurrency mining hardware today announces a new purchase deal of 15,000 S19 Series Antminers with Riot Blockchain, Inc. (“Roit Blockchain” or “Roit”), a Nasdaq-listed cryptocurrency mining company.  This approx. $35 million purchase is comprised of 3,000 S19 Pro Antminers (110 TH) and 12,000 S19j Pro Antminers (100 TH). These top-selling miners are scheduled for receipt and deployment starting in May 2020 and continuing through October 2021.  

In total, Riot has purchased 37,640 next-gen fleet of miners from Bitmain within this year.  Bitmain’s S19 Series has quickly become a true game-changer and a model of high performance in the market since its debut. With the new order of 15,000 S19 series Antminers, combined with the previous purchases, Riot is predicted to significantly increase its mining rate capacity to 3.8EH/s in 2021 and will gain an aggregate mining efficiency of 31.79±% 5 J/TH after full deployment.   

“We are extremely excited to expand and deepen our partnership with Riot Blockchain again this year. In total, Riot additionally purchased 15,000 Antminer 19 series. The 19 series enjoy a wide popularity in the global markets with outstanding hash rates and power efficiency, which continuously bring tremendous values to our customers around the world. I am confident that with the new purchase, Riot can continue to grow their mining operation and play an increasingly vital role in bitcoin mining across North America.” said Irene Gao, Antminer Sales Director of NCSA Region, Bitmain.

“Continued growth in deployed miners is paramount to a miner’s success,” said Jeff McGonegal, CEO of Riot. “Expanding the Company’s bitcoin mining hash rate and operating on a cost-effective basis is very important, particularly during periods when the bitcoin spot price has appreciably increased. We are pleased to have secured this latest purchase, especially given that the available supply of mining hardware continues to become increasingly scarce.”

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Ant Training Academy Offers Optimized Online Courses

Bitmain’s training service upgrading project ‘Ant Training Academy’ (ATA) made significant adjustments this year to ensure that participants worldwide can still be trained amid the global pandemic of COVID-19. ATA launched its online courses and has completed 16 online trainings courses so far, including 9 in Chinese and 7 in English, with more than 130 trainees participated, accounting for nearly 50% of the total number of trainees in 2020.

ATA is the only training institution and certification authority officially certified by Antminer. Based on years of knowledge dissemination and technology inheritance and accumulation, ATA offers optional maintenance training courses: onsite maintenance training and online maintenance training. Onsite maintenance training includes long-term courses (fundamentals of chip welding and miner maintenance training) and short-term courses (miner maintenance training only). Online maintenance training includes various training videos and documents, online trainer guidance, and Q&A.

Due to many participants being unable to attend onsite courses attributed to the pandemic, and with the growing urgency for maintenance training. ATA put together and developed high-standard online courses when the pandemic broke out and eventually came up with an explorative and practical solution as below:

The online maintenance training is composed of 3 phases. Material explanation, Q&A,  and examinations are modules included in each phase. The duration for the online training course is 14 days, and trainees can arrange the online learning time flexibly with exceptions for the assessments.

Course Content

Assessment: 3-Phase Examination (70%) + Theory Assessment (30%)

The maintenance training courses are currently available for the Antminer 9, 17, and 19 series. For the trainees who apply for the online training course from Oct.1, 2020, to Dec.31, 2020, a $200 coupon for purchasing materials on our official website shall be issued. Skills come from practice, so ATA still suggests participants take onsite courses if possible so that they can learn better through hands-on experience and face-to-face guidance from professional instructors.

More information about ATA could be found:

Online courses – https://support.bitmain.com/hc/en-us/articles/900003141683

Onsite courses – https://support.bitmain.com/hc/en-us/articles/360015970014

As a global leading technology company, Bitmain takes customer experiences as a priority. As a strategic role of Bitmain services, ATA keeps upgrading and evolving and will continue to upgrade training courses as market needs, especially to empower our customers with the ability to maintain and repair their miners, hence to reduce the losses caused by miner failures.

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Mining and Investment Summit 2020 Gathered Industry Leaders to Discuss Risk and Opportunities in Today’s Market

On November 24th, Bitmain joined hands with Matrixport to host the Mining and Investment Summit 2020. This half-day online event brought together the top leading companies in the fields of Cryptocurrency Mining and Digital Asset Financial Services, which delivered the latest and most significant Global Mining Trends, Risk Management, and Investment Opportunities currently happening in the industry.

The Mining and Investment Summit featured three keynote speeches and three-panel discussions. Su Ke, Sales Director of EMEA CIS Region of Antminer, participated and delivered the very first keynote speech, in which he addressed the current market trends, especially the growing demand for miners. He also announced the launch of Bitmain’s new products – Antminer S19j and S19j Pro, following the significant success of the 19 Series. The delivery date for this miner is set in June for China and July for the overseas market.

Su Ke then introduced Bitmain’s recent rack-style new product – AntRack, highlighting its key features, such as its modular design with hot-swappable features, upgradable hash boards, and the water-cooling unit. Su Ke also announced the AntRack to have an estimated availability in May 2021.

Following Su Ke’s presentation, Cynthia Wu, Head of BD and Sales of Matrixport, and Eugene Ng, Director of BD of Matrixport, discussed how miners could maximize gains and hedge risks in today’s market. They discussed Matrixport’s products of hedging with a leveraged bear, buy an insurance (buy a protective put), dual currency product, smart trend, and lending. This was followed by Thomas Heller, COO of Compass, who explained the current state of Bitcoin mining. In the panel discussions, industry elites talked about the global mining landscape, interesting mining trends in 2020, as well as the operations and investment into mining.

The summit came at a crucial time for the industry as the market demand for new and innovative ways to strengthen digital mining is growing, and the global landscape is undergoing a drastic reshape. Bitmain is looking to participate and even host more events like this to develop and share insightful observations and instructions, together with the top minds of the industry.

Interested viewers can find the event video here. If you are interested in participating in the next online event, feel free to contact [email protected]

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