Bitmain – the world’s leading producer of cryptocurrency mining hardware, announces the signing of a new cooperation agreement between Bitmain Supercomputing Center Research Institute (BSCI) and KASH PARTNERS.
KASH PARTNERS is one of the largest cryptocurrency
mining companies in Korea. The company plans to invest 10 million US dollars with
stable income activities such as domestic construction of data centers, mining
hardware acquisition, and custody services. By providing the most advanced mining
hardware at present, the Antminer S19 Pro. Bitmain will support KASH PARTNERS with achieving their goal of a 30MW facility that can operate
nearly 10,000 units of the most advanced miners.
“KASH PARTNERS has been a longtime friend of ours. We would be more
than happy to broaden our cooperation and deepen the partnership that we have together.
With the full deployment of the 30MW facility, we are paving the way for their
goal of a 50MW facility. This will be a milestone for both Bitmain and KASH
PARTNERS”, said Jelly Fan, Director of BSCI, Bitmain.
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The year 2020 has seen strong turbulence in global markets and industries. In such a time of uncertainty, Bitmain continues to deepen its strengths with industry-leading chip R&D advantage, launch superior products that reset the industry standards. Meanwhile, through its leading experience and expertise, Bitmain keeps on completing its business ecosystem deployment centered on “hash rate” by launching new businesses and services in the hope to drive the development and upgrade of the entire market.
New Product to
Drive Industry Standards: Breaking Record Highs Again with the Antminer 19
Series
Antminer 19 Series (Antminer S19 Pro, S19, T19)
In the past
few months, Bitmain has once again proved its strong R&D capability through
the launch of its record-breaking Antminer 19 Series, which delivers an
impressive performance in the global market.
Antminer
S19 Pro, S19
On 27 February, Bitmain officially announced the Antminer S19 and S19 Pro. Equipped
with a custom-built 7nm chip from Bitmain and enhanced circuit architecture,
the Antminer S19 series reset the industry standards with record-breaking power
efficiency. The Antminer S19 Pro features a hash rate of 110 TH/s, and an
impressive power efficiency of 29.5±%5 J/TH. The Antminer S19 is equipped with
a hash rate of 95 TH/s, and power efficiency of 34.5±%5 J/TH. S19 Pro and S19
strongly proved Bitmain’s outstanding innovation capability and position as a
leader in the market.
Antminer
T19
On June 1st, Bitmain launched the Antminer T19, which is housed with the same generation of custom-built chips found in the Antminer S19 and S19 Pro. Utilizing the new APW12 power supply and upgraded firmware, the T19 offers faster start-up speeds for an optimized mining experience. The T19 is equipped with a hash rate of 84 TH/s ± 3% and has a power efficiency of 37.5 J/TH ± 5%. Comparing with the previous Antminer T17, the T19 greatly improves performance, allowing miners to achieve better efficiency and earnings.
Antminer Z15
Antminer Z15
On May 7th, Bitmain launched the Antminer Z15, featuring a hash rate of 420 KSol/s, and 1510 W power consumption. This is the 3rd generation of Bitmain’s Equihash algorithm miner, which is used for mining ZEC (Zcash) and other cryptocurrencies under Equihash mining. Antminer Z11 was the model with the highest hash rate in the market before Z15, which has made significant improvement on both hash rate and power efficiency.
New Deals to
Support Growth Globally: Avoid Potential Shortage through Long-Term Deals
In the past few months, Bitmain has announced multiple purchase deals of
millions of USD. Through these long-term deals, Bitmain has built strategic
relations with customers while ensuring a stable supply cycle.
On June 27th, the leading blockchain hosting provider Core Scientific announced that it has again partnered with Bitmain to facilitate the purchase of 17,595 units of the Antminer 19 Series. Before that, Core Scientific cooperated with Bitmain to bring the very first Antminer Training Academy to North America last year.
The Nasdaq-listed cryptocurrency mining company Marathon Patent Group announced on August 14th that it has entered into a Long-Term Purchase Contract with Bitmain for the purchase of 10,500 next-generation Antminer S19 Pro ASIC Miners. It is expected that the total 13,520 Antminers will be generating 1.55 Exahash upon full installation.
On August 18th, Riot Blockchain announced a new milestone purchase of 8,000 Antminer S19 Pros from Bitmain with delivery starting January 2021 and continuing through April 2021 until the order is complete. Until then, Riot Blockchain has purchased over 20,140 Antminers from Bitmain within a year.
New Services to
Raise Industry Standards: Comprehensively Improved Customer Experiences
Since the beginning of the year, Bitmain
launched a series of new offerings, aiming to advance customer experience from
all perspectives.
Bitmain Supercomputing
Center Research Institute (BSCI)
Bitmain Supercomputing Center Research Institute
Bitmain announced the establishment of the Bitmain Supercomputing Center
Research Institute (BSCI) in April. BSCI aims to provide customers
with one-stop services on supercomputing centers, from introductory consulting,
investment construction, and quality upgrades. It will provide a “turnkey”
service for supercomputing centers, which includes standardized design and
evaluation of the center, engineering management and consulting, and operation
of the supercomputing center.
Hash Guard
Bitmain’s Hash Guard Capabilities
Earlier this year, Bitmain launched the service “Hash Guard”, to provide high-standard maintenance and repair services that set standards for the market. Originally, Hash Guard was a miner operation and repair team established by Bitmain Group in 2014. After five years of growth and development, it has formed a professional team covering miners’ operation, repair, electrical, network, and system development. With a good reputation and excellent professional ability in the industry, our service scope is now spread all over the world. In China, North America, Europe, Central Asia, and other regions, Hash Guard is operating more than 50 data centers and has managed 600,000 miners.
R2-D2
R2-D2 Miner Development
Early in 2020, Bitmain made the decision to channel
efforts into the creation of the new R2-D2 branch, the brainchild of the
strategic business unit at Bitmain, built to cater for the next generation of
mining technology. R2-D2 is an initiative that
facilitates investors in having exclusive rights to build their own Antminers.
As part of the program, customers will have exclusive usage rights for one
year. It works as a long-term solution aimed at growing the mining
industry while evolving into the usage of multiple cryptocurrencies. This
initiative has more than 40 core design team members working on it, with more
than 10 years of professional experience. This development is huge for Bitmain
who have been championing mining innovator since 2013.
Upgrade on Training Courses to Attract more Participants: Standardized Training
System to Nurture Talents Ready for the Future
Ant
Training Academy is a training service project (hereinafter
referred to as “Ant Academy” or “ATA”), which was launched by Bitmain based on
years of knowledge dissemination and technology inheritance and accumulation.
It is the sole training institution and certification authority officially
certified by Antminer.
In August, ATA announced the upgrade on its course
plan, to attract more talents with more course setting options, in the hope to
prepare more qualified professional staff for the industry.
Currently, the core course of ATA is maintenance
training, with the upgrade presently including the 19 Series training program.
Also, it now has two options in terms of training periods –a long-term training
program lasting two weeks, and a short-term training program lasting five days
only – each class now scaled down to eight participants, with the option of
elective courses to match the needs of different groups. Successful course
participants will qualify for a “Certificate of Accomplishment”,
which will include an assessment of their skill level.
Only those who sit through the night could embrace the first ray of sunshine. Bitmain will keep on the Hashrate-centered strategy to advance the evolution of the entire industry and keep on forging ahead to explore more possibilities.
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Singapore, Oct. 02, 2020 – Bitmain – the world’s leading producer of cryptocurrency mining hardware announces that it has expanded the partnership with Core Scientific, to set up the first cooperative repair center in North America. This action is set to make sure customers in North America can get machines repaired with original parts while reducing the downtime of sending machines back to China.
“We
are so excited to expand our offerings in North America through this
partnership with Core Scientific,” said Irene Gao, Antminer Sales Director of
NCSA Region, Bitmain. “Although Bitmain has made significant improvements in
product design, miners are usually in a non-stop working status, making
maintenance and repairs a rigid demand of our customers. We have been trying as
hard as we can to make sure our customers around the world get effective and
efficient services. This cooperative repair center is not only another
milestone of our partnership with Core Scientific, but one step further of our
commitment to local markets in North America.”
“Having a repair
center close to miners in the United States is key to improving efficiency when
it comes to repairing mining rigs,” said Kevin Turner, CEO of Core
Scientific. “By eliminating the substantial economic and opportunity costs
associated with sending equipment back to Asia to be fixed, we can help Bitmain
– and the mining industry as a whole – continue to grow. Our skilled in-house
engineering team is primed and ready, and will now have access to original
replacement components to ensure units stay in warranty.”
As Bitmain’s cooperative
repair center, Core Scientific will be able to perform repairs for any customer
whose Antminer warranties have expired. Repairs will be completed by engineers
who have attained Bitmain’s Ant Training Academy certification.
This announcement marks another milestone in Bitmain’s partnership with Core Scientific. As a leading mining operator, Core Scientific continues facilitating its operation with Bitmain’s products, and just recently announced a purchase of nearly 18,000 units of Bitmain bitcoin mining machines. Earlier this year, Bitmain and Core Scientific announced to the establishment of the first Ant Training Academy in North America, providing training and accreditation to local participants.
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Singapore, Sep. 16, 2020 – Bitmain – the world’s leading producer of cryptocurrency mining hardware announces that it has signed another purchases contract with Riot Blockchain, one of the few Nasdaq-listed cryptocurrency mining companies, with the new purchase of 5,100 next-generation Bitmain S19 Pro Antminers (110 TH) for more than USD $10 million, scheduled for receipt and deployment starting in February 2021.
By providing the most advanced miners,
Bitmain will help Riot Blockchain achieve the goal of 2 EH/s hash rate capacity.
The 5,100 new miners will bolster Riot Blockchain’s hashing power by roughly
0.56 EH/s
“Riot is a long-term close friend of ours, we are more than happy glad to expand our cooperation and deepen the partnership with them. With the full deployment of these 13,100 S19 Pros, we are helping them set path to the goal of 2 EH/s hash rate capacity. This will be a milestone for both Bitmain and Riot.” said Irene Gao, Antminer Sales Director of NCSA Region, Bitmain.
Last month, Riot just purchased 8,000 Bitmain S19 Pro Antminers. Starting from a 4,000 S17 Pro deal in this February, 20,140 Bitmain miners have been purchased by Riot within a year.
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Bitmain’s S19 Pro ASIC Miner Continues as The Miner of Choice For North Americas Largest Bitcoin Miners
Singapore, Sept. 04, 2020 – Bitmain – the World’s leading producer of cryptocurrency mining hardware is accelerating their momentum with the execution of this contract valued at over $23 million. Marathon Patent Group (“Marathon”), a Nasdaq-listed cryptocurrency mining company based in Las Vegas Nevada, has entered a Long-Term Purchase Contract of $23 million to purchase 10,500 Antminer S19 Pro. Bitmain’s Antminer S19 Pro is equipped with the most advanced chipset currently available.
“We are excited to close this deal which dramatically expands our relationship with Marathon. Powered by a new generation custom-built chip from Bitmain, Antminer S19 Pro features industry-leading performance and power efficiency, which we believe will significantly boost Marathon’s mining capacity. Once fully deployed, these Miners will bring in a new era of Bitcoin mining, and we cannot wait to see Marathon unleash their market potential with this additional capacity.” said Irene Gao, Antminer Sales Director of NCSA Region, Bitmain.
Merrick Okamoto, Marathon Patent Group, Inc.’s Chairman and CEO stated, “Bitmain’s S19 Pro ASIC Miner outperforms all other Miners we have deployed by producing and energy efficiency of 29.5 ± joules per terahash (J/TH.) Upon delivery and full installation, Marathon’s mining operation will produce up to 1.55 Exahash.”
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Singapore, Aug. 24, 2020 – Bitmain – the world’s leading producer of cryptocurrency mining hardware continues its partnership with one of the few Nasdaq-listed cryptocurrency mining companies – Riot Blockchain (“Riot”, “Riot Blockchain” or the “Company”) by executing another purchase agreement of 8,000 next generation Bitmain Antminer S19 Pros. The Antminer S19 Pro is another hot-selling miner launched by Bitmain earlier this year, featuring a hash rate of 110 TH/s, with a power efficiency of 29.5±%5 J/TH. This new $17.7 million contract with Riot marks another global milestone of Bitmain’s Antminer S19 Pros.
“We are glad to continue and expand our cooperation with Riot. Riot is a long-term friend of ours, and we have witnessed and assisted them building up a powerful mining operation in North America. Equipped with the most advanced chipset currently available, our Antminer S19 Pro redefined the industry standard of hash rate with an outstanding power efficiency. We believe this new purchase help will Riot expand a leading position in the market and fulfill their business vision, which we are more than happy to be and continue being part of.” said Irene Gao, Antminer Sales Director of NCSA Region, Bitmain.
This purchase agreement has a defined delivery schedule of 2,000 S19 Pros per month starting in January 2021 and continuing through April 2021 until the order is complete.
“Riot Blockchain deeply values the relationship developed with Bitmain over the years. We are focused on building our mining operation with the most efficient hardware on the market, therefore the S19 Pro has been the leading choice during this growth period. Riot set the ambitious hash rate goal of 1 EH/s by early 2021, even though sourcing hardware can be exceptionally challenging during the current pandemic and in this economic climate. Bitmain provided us with exceptional service in a path towards achieving our goal and because of their robust supply chain we are scheduled to exceed it. We value our relationship with Bitmain and look forward to supporting each other as our industry grows.” Jeff McGonegal, CEO of Riot Blockchain.
Starting from a 4,000 S17 Pro position in December 2019, 15,040 total Antminers have been purchased by Riot within a year. When the new S19 Pros are fully deployed, Riot expects its total hash rate capacity to be approximately 1.45 EH/s (1,446 PH/s) while utilizing approximately 47 megawatts (MW) of energy.
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There has certainly been a lot of hype around Central Bank Digital Currencies (CBDCs). Among its notable proponents is China, who earlier this year introduced a homegrown digital currency across four cities as part of a pilot program, marking a milestone on the path toward the first electronic payment system by a major central bank. This was followed by one of the oldest banks in the world, the Bank of England, who signaled it would consider pursuing a CBDC.
So, does the trend for CBDCs pose a threat to established cryptocurrencies such as Bitcoin? And what might the future hold? To begin answering this question, we must first understand its modern-day limitations.
Since the Bank of England’s foundation in 1694, the bank issued notes promising to pay the bearer a sum of money. For much of its history, it was entirely possible to take a Pound note to the bank and exchange it for gold, a scarce commodity with little physical utility. The gold provided the banknote with intrinsic value.
However, this link was broken by the British in 1931, and by the Americans in 1933 for its citizens. Today, the strength and dominance of fiat currency are based on nothing more than faith. Let’s take the USD, which since Bretton Woods, has rightly or wrongly, underpinned the modern financial system. It has value because we have faith in the United States’ economic and military strength, willingness to recover debts, and thus its ability to come good on its treasury bills.
As for Bitcoin, it has value because it is governed by an algorithm which means only 21 million Bitcoins can ever be mined. Once miners have unlocked all the Bitcoins, the planet’s supply will essentially be tapped out unless the protocol is changed to accommodate a larger supply. Therefore, Bitcoin’s value is intrinsically linked to the algorithm’s guarantee.
When it comes to CBDCs, some commentators warn its proliferation will become a threat to Bitcoin as government-controlled currencies will replace unregulated cryptocurrencies. In reality, this is unlikely and the reason is this.
CBDCs are extensions of fiat currencies. They are subject to the usual rules of fiscal policy and economics. In short, they behave like fiat currencies. Federal regulators can perpetually print digital notes under the guise of quantitative easing, increasing inflation, and reducing purchase power. Changes in public confidence in a government can be enough to make their currency worthless virtually overnight. Just ask any Argentinian.
Bitcoin on the other hand has intrinsic value. Its value is not based on mere faith but a robust deflationary algorithm. This is why the introduction of CBDC’s are unlikely to have an impact on pure cryptocurrencies. However, with the increasing supply and diversity of CBDCs expected, an interesting discussion is what they will need to do with them.
We’re living in a digital era and technology has radically transformed many industries. Look no further than the geopolitical tensions around 5G which are set to unlock the multi-trillion “Industry 4.0”. Yet the current financial system has been slow to transform. Markets are still opening at 8am and shutting up shop around 5pm, in a world where global 24/7 markets are entirely possible.
For CBDCs to have true purpose and value beyond its paper equivalent, the financial system will need to be rebuilt to support them. When this happens, to take a religious term will be the second coming of Bitcoin.
If financial institutions are forced to build out the infrastructure to transact and store CBDCs, the same underlying infrastructure could be used to support Bitcoin. In fact, investment banks would cherish this. They are not precious about whether it’s fiat or a shiny metal they are trading. They just want access to a diverse range of asset classes. Also, imagine millions, perhaps billions of people with access to digital wallets, accustomed to digital money with financial services to match. If Bitcoin is supported as part of this revolution, this increases Bitcoin’s utility, and therefore value.
The proliferation of CBDCs will therefore indirectly give Bitcoin a boost, increasing its value and relevance. Expect to see another gold rush wave for enterprising miners, recognizing the opportunity to get ahead of the inevitable. But this time it won’t just be individuals with their ASIC miners or even the farms participating.
So when we begin to see financial system 2.0 come to bear, what would you rather hold? CBDCs or Bitcoin? If the latter, it might be time to ensure your mining hardware and setup is giving you the competitive advantage you need to stay ahead of the curve in this next gold rush.
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In recent years, Bitcoin mining developed from the participation
of a few geeks and programmers to a hot investment target with a current market
cap of $175 billion.
Through fluctuations in both the bull market and bear market
activities, many traditional entrepreneurs and fund management companies
continue to play a key role in the mining industry today. Fund management
companies no longer use traditional models to measure mining. In addition to
introducing more economic models to measure returns, they have also introduced
financial instruments such as futures and quantitative hedging to reduce risks
and increase returns.
Bitmain has observed a dramatic shift in the interest of Bitcoin mining
since the previous halving in 2016. A significant number of service companies
have emerged in the mining industry, including third-party mining suppliers,
mining operators, maintenance service providers, mining hardware finance
leasing companies, third-party mining hardware maintenance companies, and
digital currency financial services.
Industry integration saw companies like Bitmain expand their
business to integrate other services. Exchanges began to establish mining
pools, and mining pools began to develop wallets. All of these are a result of
the bear market as companies could not only offer more but now had the demand
to take more on.
The Price of Mining Hardware
For many miners who have entered or who are considering entering
the mining market, the pricing of mining hardware is of key interest.
It is commonly known that the price of mining hardware can be
divided into two categories: factory price and circulating price. Many factors
dictate these pricing structures with the fluctuating value of Bitcoin, a key
factor in both the new and second-hand hardware markets.
The actual circulation value of mining hardware is affected not
only by the quality, age, condition, and warranty period of the machine but by
fluctuations in the digital currency market. When the price of a digital
currency rises sharply in a bull market, it can cause a short supply of miners
and generate a premium for hardware.
This premium is often proportionally higher than the increase in
the value of the digital currency itself, leading many miners to directly
invest in mining instead of cryptocurrencies.
Likewise, when the value of a digital currency is in decline and the price of mining hardware in circulation begins to fall, the value of this decrease is often less than that of the digital currency.
Acquiring an Antminer
At the moment, there are excellent opportunities for investors
to enter the market and own Antminer hardware based upon several key factors.
In the lead up to the recent Bitcoin halving, many established
miners and institutional investors held a ‘wait-and-see’ attitude on the
effects on currency prices as well as the total computing power of the network.
Since the halving occurred on May 11, 2020, the total monthly network computing
power fell from 110E to 90E, however, the value of Bitcoin has enjoyed a slow
rise in value, remaining relatively stable and free from the anticipated sharp
fluctuations.
Since this halving, those who have purchased new mining hardware
can expect an appreciation of both the machine and Bitcoin over the next years
until the next halving. As we move into this new cycle, revenue generated by
Bitcoin will stabilize and profits will likely remain constant throughout this
period.
Global Mining Trends
At present, China’s mining scale accounts for 65% of the world’s total, while the remaining 35% is distributed from North America, Europe, and the rest of the world.
On the whole, North America has gradually begun to support digital asset mining and guide funds and institutions with professional operation and risk control capabilities to enter the market; Stable political situation, low electricity charges, reasonable legal framework, relatively mature financial market, and climate conditions are the main factors for the development of cryptocurrency mining.
USA: Missoula County Committee of Montana has added
green regulations for digital asset mining. The regulations require that miners
can only be arranged in light and heavy industrial areas. After review and
approval, the mining rights of the miners can be extended to April 3, 2021.
Canada: Continues to take measures to support the development of digital asset mining business in Canada. Quebec Hydro has agreed to reserve one-fifth of its electricity (about 300 megawatts) for miners.
China:
The advent of the annual flood season in the
Sichuan province in China ushered in a period of significantly lower
electricity costs for mining hardware, which can accelerate more mining taking
place. As the flood season reduces costs and increases profits, it is expected
to see a reduction of Bitcoin liquidation, which would also stimulate the rise
in currency prices.
Advice for Choosing a Suitable Mining Machine
For individual miners, Bitmain recommends a machine with a
relatively low power consumption ratio represented by T17+ and S17e. This miner is currently the mainstream model in the market.
Compared with the latest models, the price is lower, the return period is
shorter. When cryptocurrency price rises, the volatility of mining hardware to
electricity prices will decrease, and this advantage will gradually widen,
bringing more benefits to investors.
For customers who value mid to long-term returns, it is especially important to choose a machine with extremely low power consumption and stable operation. The Antminer T19, S19, and S19 Pro are selections tailored for this type of investment. A notable highlight is the current chip technology equipped in the 19 series is the most advanced technology at present. With the total production capacity of mining hardware manufacturers today being limited and the existence of Moore’s Law leads to an increasing physical iteration cycle of the chip, which in theory will lead to an increased lifecycle available to new hardware.
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Bitmain’s partnership with leading US-based blockchain hosting provider Core Scientific continues to bring Bitmain’s renowned technology and expertise to the North American market.
After announcing the establishment of the first USA-based Ant Training Academy (ATA) in Dalton, Georgia this May, Bitmain and Core Scientific have come together again to facilitate the purchase of 17,595 Antminer 19 series machines to service Core Scientific’s hosting clients and own operations.
The partnership signifies the largest number of mining machines coordinated for purchase by a single blockchain hosting company and solidifies both Bitmain and Core Scientific as leading global AI and blockchain technology organizations.
In addition to the landmark purchase of S19 models, the new ATA will also extend Bitmain’s highly regarded training and certification services to participants in North America starting in Fall 2020. This means participants will no longer need to travel internationally to access the academy’s in-demand courses and accreditations.
Bitmain’s ATA is the only training institution and certification authority officially certified by Antminer. Through this partnership, Bitmain has combined the proven ATA curriculum with accredited instructors from Core Scientific, to deliver engaging and practical training to attendees in North America.
The Dalton, Georgia ATA branch will continue the white glove approach and strong operational excellence that the ATA is renowned for, to ensure that attendees walk away with the critical skills they need to operate at the highest level and secure long term viability of their mining equipment.
Through this partnership with Core Scientific, Bitmain will continue to provide world-leading mining technology and expertise to the world reaching new heights by branching out to the US.
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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:
