Cryptocurrency mining leaders to speak include: Jihan Wu (Bitmain Co-Founder), John Ge (Matrixport CEO), Marco Streng (Genesis Mining CEO), and more.
HONG KONG, JULY, 30 2019 – The World Digital Mining Summit (WDMS) hosted byBitmain – the world’s top 10 and China’s second largest fabless chipmaker – is set to return on 8-10 October in Frankfurt with a focus towards industry investment and innovation for the mining sector.
The second edition of the WDMS will expand its mining agenda to include various financial solutions into digital mining, mining optimization solutions, and showcase top mining and blockchain companies.
Over the two-day mining summit, attendees will have the opportunity to undertake workshops, hear keynote speeches from the industry’s leading minds, and meet new and old acquaintances from the mining industry.
Thought leaders confirmed to speak include Jihan Wu (Bitmain Co-Founder), John Ge (Matrixport CEO), Marco Streng (Genesis Mining CEO), amongst others. A full and updated list can be found here.
The 2019 WDMS will also provide attendees a chance to network with key industry decision makers, mining experts, investors and entrepreneurs.
The summit comes at an important time for the development of the cryptocurrency mining industry as the sector matures and demand for new and innovative ways to enhance digital mining grows.
WDMS continues to be the ideal setting for global miners to gather, share ideas and shape the future of the mining industry.
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.
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SHENZHEN, 15 July 2019 – Bitmain, the
world’s top 10 and China’s second largest fabless chipmaker, has inducted the
pioneer cohort for the Ant Training Academy (ATA) to officially launch the
industry’s first accreditation course for miner maintenance.
“Until now, education around miner
maintenance was limited to what industry participants could ‘hack’ together.
The Ant Training Academy is part of Bitmain’s continued commitment to improve
cryptocurrency mining standards, encourage more sustainable practices and bring
credibility to the industry,” said Jiang Zhihua, Bitmain’s Global Marketing
Director.
Ant Training Academy Opening Ceremony
ATA’s Maintenance Training Course is
designed to educate maintenance personnel for mining farms on how to install,
operate, and repair mining equipment. The course runs for a two week period in
Shenzhen, China.
The first 16 participants enrolled for
this quarter were inducted to ATA’s Maintenance Training Course in an opening
Ceremony in Shenzhen where they will be trained by Bitmain’s Senior Engineers
of the Antminer Brand.
Successful course participants will
qualify for a “Certificate of Accomplishment”, which will include an assessment
of their skill level. ATA course certificates aim to be a global standard for
cryptocurrency miner maintenance. High-performing participants will be awarded
certificates of Excellence and Top Performance.
Ant Training Academy Programme
“Getting the maintenance process right
helps to extend the lifetime of cryptocurrency mining hardware. But right now,
it is difficult to find the right resources to help one to upskill. I look
forward to taking ATA’s course as it’s practical, will save us the cost of
sending miners for repair and would shorten the timeframe of miner downtime in
the long run,” said Tang Huihong, a technician at a company selling second-hand
miners.
Full programme details for ATA’s Maintenance Training Course can be found here.
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.
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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.
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HONG KONG, 28 April 2019 – Bitmain has launched the new Antminer T17, the single mode miner from the highly anticipated Antminer 17 series.
The next-generation Antminer T17 is the entry
model from the 17 series with a hash rate of 40 TH/s. It uses an entirely new
design to improve the miner’s stability and performance while also effectively
preventing dust, similar to the S17 Pro and S17.
The Antminer T17 features a power efficiency
of 55 J/TH and is equipped with the new generation chip that offers deeper
improvements on power efficiency, generating more income for miners.
Photo: Antminer T17
The Antminer T17 utilizes dual tube heat
dissipation technology to reduce wind resistance. The space between the air
inlet to the air outlet has been reduced by 50%, improving heat dissipation
which further enhances the long-term operation of the miner and reduce
maintenance costs for users.
The Antminer 17 series also includes two other
models that can be purchased through Bitmain, the Antminer S17 Pro and Antminer
S17. All products in the range come with a APW9 power supply to improve the
power efficiency for a more stable mining experience and savings on electricity
costs.
The Antminer T17 can
be purchased through 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
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Bitmain
has announced specifications and selling times of the 7nm Antminer 17 series
ahead of the upcoming release date.
HONG KONG, 08 April 2019 – Bitmain, the
world’s top 10 and China’s second largest fabless chipmaker, is announcing
specifications for the new Antminer 17 series, as well as the regional selling
times for the launch date on 9 April 2019.
Photo: Antminer S17 Pro
The new miners in the 17 series include:
Antminer S17 Pro, Antminer S17, and Antminer T17. All three miners come
equipped with the new 2nd generation 7nm BM1397 mining chips, which come with
improvements to power efficiency and hashrate.
The Antminer S17 Pro comes in two variants, a
53 TH/s and a 50 TH/s model, and features three mining modes, which allows for
greater customization as customers can switch between different settings to
accommodate various mining requirements. When on turbo mode, the S17 Pro has a power
efficiency of 45 J/TH. The normal mode operates at 39.5 J/TH, while the
low-power operates at 36 J/TH.
The Antminer S17 also comes in two variants, a
56 TH/s and a 53 TH/s model, with two mining modes. When on normal mode, both
models have a power efficiency of 45 J/TH, while the low-power mode operates at
42 J/TH. The Antminer T17 is set for a later selling date.
The next-generation Antminer 17 series will be released in two batches
and will be available for sale on Bitmain’s official website according to the
following timings by region:
North,
Central, South America:
1st Batch: 08 April 2019, 23:00 PDT
2nd Batch: 09 April 2019,
09:00 PDT
Contact:
sales.ncsa@bitmain.com
Europe, the
Middle East, and Africa & The Commonwealth of Independent States:
1st Batch: 09 April 2019,
09:00 MSK
2nd Batch: 09 April 2019,
19:00 MSK
Contact:
sales.emeacis@bitmain.com
Asia
Pacific:
1st Batch: 09 April 2019,
14:00 CST
2nd Batch: 10 April 2019,
00:00 CST
Contact: sales.apac@bitmain.com
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Hong Kong, 1 April 2019 – Bitmain Technologies Ltd, one of the world’s largest crypto-mining hardware producers, has developed the Antminer-Less – a middle-of-the-line miner that represents the first GPU launched by Bitmain. It has been designed by Bitmain to eradicate the power-saving and performance benefits of ASIC miners.
The Antminer-Less packs a third of the electricity efficiency of its predecessor, and delivers a 100 per cent reduction in hashing power.
Powered by the GPU-0 chip, which combines established chip design methodology with classic manufacturing processes, the Antminer-Less really shows that bigger is better, and will take pride of place in a miner’s rig – as it cannot be easily transported. When it comes to GPUs, bigger is always better.
Bitmain has decided to wind down the research, development and innovation efforts on ASICs and instead focus on keeping power where it currently resides: in the hands of GPU makers.
This new GPU hardware is by far the leading model by performance to mine cryptocurrencies in a slow and steady pace – freeing up time for miners to engage in arguments with strangers on the internet..
Bitmain understands the value of these anonymous discussions because the decision to shift gears and focus on GPU mining was made under the guidance of strongly-worded comments by unknown advisors online. The arguments that were made were incredibly compelling, erudite and well-articulated, convincing us to totally change our business plan.
Building better hardware to mine efficiently and profitably is a misuse of company time and investment, when existing technology does the trick. CPUs are still so significant in the world of mining, after all, not to mention that GPUs, can also be used for many other things: a compelling reason to buy one to mine with.
The logic of this reasoning can be seen with the timelessness of inventions like the Teasmade: a kettle and alarm clock in one device. It is for that reason, too, that clothes are frequently washed in dishwashers, and books are stored in freezers. A device is useless if it fulfils only one function.
It is widely-known that progress comes from keeping things as they are, and we do not want to change or revolutionise anything. Today’s announcement follows Bitmain’s ongoing commitment to maintaining the status quo, and is part of its aim to help keep the tech ecosystem just the way it is.
Maintaining the limited availability and accessibility of GPUs, the Antminer-Less will be released in limited quantities and sold at price-per-terahash that is comparable to that of GPUs. Coming soon to a brick-and-mortar store near you!
Disclaimer for the faint-humored readers: We made this post in the spirit of April Fools’ Day. Please never doubt our commitment to challenging the status quo of non-crypto corporations.
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The Product Manager of Bitmain’s Antminer 17 series gives users a sneak peek into the features of the new miners which offer “steep improvement” in hashrate.
HONG KONG, 29 March 2019 – Bitmain, the world’s top 10 and China’s second largest fabless chipmaker, is putting their new energy efficient miners that mine cryptocurrencies based on the SHA256 algorithm, such as Bitcoin (BTC) and Bitcoin Cash (BCH), up for sale globally on 9 April 2019.
The key features of the Antminer S17 include: improved energy efficiency; higher hashrate and size compatibility with the previous S15 series.
The new miners in the 17 series include: Antminer S17 Pro, Antminer S17, and Antminer T17.
Ahead of the new model release, Yangxin, Product Manager of Bitmain’s latest Antminer series, reveals what went into the production of the new and improved 2nd generation 7nm ASIC BM1397 mining chips.
“The new miner offers a steep improvement in the hashrate in terms of space and power consumption,” said Yangxin.
The new chip equipped in the 17 series offers a 28.6 percent improvement in power efficiency in comparison with Bitmain’s previous 7nm chip, the BM1391.
Yangxin has specialized in the field of IC (Integrated Circuit) design for over a decade and currently manages miner production delivery, which includes system design and mass production. Here’s what he had to share on the following:
On the highlight features of the new Antminer S17, Yangxin said:
“There are two key indicators to look for when measuring the quality of a mining machine: efficiency and the hashrate:
The stand out features of the S17 are reflected in the following:
Improved performance compared to the previous generation chip. Improved energy efficiency has a big part to play in this.
Higher hashrate in a single miner. This increases the hashrate density per unit space and saves deployment costs for mining farms.”
On the improvement of the 15 series and the 17 series Yangxin said:
“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 hashrate in terms of space and power consumption. This will be especially meaningful for mining farms when you consider the investment needed with set up.
On what’s next and whether there is an incentive to develop higher hashrate miners beyond 7nm chips Yangxin said:
“From a technical point of view, there is no end to the development of technology. However, in the short run, the driving force behind the development of next-gen miners beyond 7nm chips is slowing down due to physical limitations.
With the nm size shrinking quantum effects, among other new challenges, come into play. It is promising that TSMC (Taiwan Semiconductor Manufacturing Company) is already in the process of building 5nm chips. We will continue to follow the development of this technology but it is still early days.
It takes several iterations to create new miners based on the next generation semiconductor process. The solutions to the challenges of nanometer scale mass production require more investment and further research and development.
Considering the rapid pace of development in this area in the past few years, the industry would soon have to find what the next generation would be. For the near future, 7nm would remain the most preferred in terms of performance and economics.”
The new Antminer 17 series will go up for sale on Bitmain’s official website on 9 April 2019.
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We are proud of how fast our business has grown since we were first founded in 2013. According to Frost & Sullivan, Bitmain is the second largest fabless chip design company in China and ranked among the world’s top ten in terms of revenue in 2017.
2018 saw significant change and growth for the business. This change and the pursuit of growth has been an important part of our journey. It has enabled us to innovate faster, optimize and streamline our business to rally behind our vision – contributing and enabling the Internet of Money. With these operational changes now in place, the priority for this year is to double-down on innovating for and serving our customers.
Bitmain’s listing application to HKex in September 2018 has reached its 6-month expiration date. We do recognize that despite the huge potential of the cryptocurrency and blockchain industry, it remains a relatively young industry which is proving its value. We hope regulatory authorities, media, and the general public can be more inclusive to this young industry. We will restart the listing application work at an appropriate time in the future.
In the meantime, the listing process has made the company more transparent and standardized. The process of rationalization and optimization has made our business more focused on the things that are core to our mission.
As part of this, at the end of 2018 we adjusted our personnel, as we aligned our focus on cryptocurrency and artificial intelligence (AI) chips, as well as products and services based on such chips. It was a difficult but necessary decision as we continue to build a long-term, sustainable and scalable business. We did our best to compensate our employees above the legal requirement.
Since then, we have established clear business divisions for mining hardware, AI, mining farms and mining pools. At the same time, we have integrated the resource lines for chip design, hardware and software to provide more effective support for our key business lines and to allocate premium resources to our major and key projects. These all help to ensure the success of our core business and commitment with our customers through a more robust lifeline and competitiveness.
Aligned to this new operational model, we have also made changes to our leadership. Mr. Haichao Wang has been appointed as CEO of the company. Haichao not only has extensive experience in the chip industry but also succesfully headed-up multiple departments at Bitmain. We are confident that through his experience and passion, he will drive better products and services for our customers. Mr. Micree Zhan and Mr. Jihan Wu, the co-founders of Bitmain, will continue to be our directors to guide the company’s strategic development.
The bear market at the end of 2018 brought both challenges and opportunities that Bitmain will work hard at addressing in 2019. In fact, we have already started with competitive products that meet the needs of our customers.
We recently released the Antminer Z11, based on our 12nm ASIC design, followed by announcement of the Antminer S17 and T17, based on our second generation 7nm chip BM1397. A single BM1397 chip integrates more than 1 billion transistors and features continuous optimization in the circuit structure and low power consumption technology. The energy efficiency ratio of the new chip is as low as 30J/TH, saving energy by 28.6% compared with the previous generation, and its overall performance is more stable.
On the AI side of our business, we have signed cooperation agreements with the Fuzhou Municipal Government of Fujian Province, China Mobile Hangzhou Research and Development Center, and China Unicom Network Technology Research Institute, while rolling out different generations of neural processors, which are fast finding wide acceptance among established tech companies, such as cloud gaming provider Ubitus.
We continue to fund open-source developers, projects and organizations. For those that we see potential and share our vision, we fund them, often with no strings attached. It means a lot to both our community and ourselves, to be able to fund exciting projects, as it gives us the opportunity to bring to life truly transformational technologies. Whilst it is our policy not to disclose our investments in the interests of privacy to those that we fund, it is safe to say we have already funded a great deal and will continue to do so in 2019.
All these contribute towards our mission to produce great hardware and software, as part of our commitment towards the security and stability of a multitude of cryptocurrencies.
We look forward to continuing these efforts for customers this year, and contributing to a distributed, decentralized world that empowers everyone. We hope you continue to have confidence in our future as we embark on this new journey with you!
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