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Bitmain Signs Another Purchase Contract of 5,100 Antminer S19 Pros With Riot Blockchain

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 partners with Foundry to drive traditional capital into a new digital era

As the saying goes, “it takes money to make money”. In most industries where there are positive returns, there will be an abundance of capital and financing to support the growth of businesses. Yet historically mining businesses had few financing options open to them, despite the compelling returns they’re able to yield. However, this is rapidly changing as investors are increasingly recognizing the opportunity in crypto and investing traditional capital. Mining in particular, which is a fundamental of crypto and linked to the creation of intrinsic value, is one of the best and reliable ways to step foot into this sector.

One of the early pioneers to address the financing gap in a reliable and scalable way is the Digital Currency Group (DCG)’s subsidiary Foundry. Since its inception in 2019, Foundry has emerged as one of the largest bitcoin miners in North America. It has also extended tens of millions of dollars in equipment financing to other mining organizations and helped to procure almost half of the bitcoin mining delivered in North America this year.

Bitmain has been collaborating with Foundry for some time, who have provided the necessary capital to fund mining equipment for many of its large clients. This critical access to finance not only breaks down barriers to entry and growth for mining businesses, but it also strengthens the overall mining ecosystem.

“Foundry was established to empower miners with the tools that they need to build tomorrow’s decentralized infrastructure. An important part of this is addressing the chronic lack of financing options, which is holding back many successful mining businesses from scaling their operations”, said Mike Colyer, CEO at Foundry. “Through our partnership with Bitmain, we are proud to have helped many mining businesses across North America procure the mining equipment they need to realize growth.”

“Through Foundry’s work and financial support of our end customers, we have been able to ship a significant number of machines into North America this year,” said Su Ke, Global Sales and Marketing Director of Antminer at Bitmain. “Foundry’s institutional-grade services for North American businesses and its team’s expertise have played a key role in making this happen. We look forward to working closely with Foundry to reach even more customers and provide an even better experience for them.”

Fuelled in part by inexpensive and abundant renewable power, North America is rapidly becoming an epicenter for bitcoin mining, and one of Antminer’s fastest-growing markets. Bitmain’s recent $28.8 million Antminer S19 Pro deal with Nasdaq-listed Riot Blockchain, as well as a $23 million contract with Marathon Patent Group, are a testament to this growth trajectory.

Bitmain is truly excited to be a part of this growing opportunity and remain fully committed to working with partners such as Foundry to support customers as they scale their businesses.

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Bitmain signs $23 million Antminer S19 Pro Contract with Marathon Patent Group

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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Bitmain Signs $17.7 million Antminer S19 Pro Deal with Nasdaq-Listed Riot Blockchain

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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Antminer Insight 2020

The Status of the Bitcoin Mining Industry

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 Continues Strong Ties with US-Based Core Scientific to Bring Antminer Technology and Expertise to North America

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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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

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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
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Fraudulent use of Bitmain brand by bitmain.farm and antminersmining.com

Recently, it was discovered that some websites have been impersonating Bitmain (hereinafter referred to as “our company”) and have been communicating with our company’s existing customers under false pretense.

In order to protect the legitimate rights and interests of our company and customers, our company solemnly declares as follows:

Our official website https://www.bitmain.com/ is the only official website of Bitmain. The two websites: https://bitmain.farm/register and https://antminersmining.com/ have no relationship with Bitmain. For the fraudulent use of the “Bitmain” brand, we will resolutely adopt legal means to protect ourselves and our customers’ rights and interests.

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First US cohort graduates from Ant Training Academy

Following an intensive two-week accreditation course for Level-1 Miner Maintenance, the first US-based cohort of students from Bitmain’s Ant Training Academy (ATA) in Atlanta has officially graduated.

As part of its ongoing commitment to support customers, Bitmain launched the course to support the growing number of US-based mining facilities.

The new academy seeks to provide a more convenient service for overseas customers.

“It’s fantastic that the ATA is now in the US and more accessible to my team and I. The course gave me practical experience around miner maintenance that I can now bring back to share with the rest of my colleagues,” said Brett Garman, President of The Blockyard LLC, a community of tech professionals and freelancers.

The ATA Maintenance Training Course is designed to educate maintenance personnel for mining farms on how to install, operate, and repair mining equipment. This course was also the first to run outside of Shenzhen, China, where the first academy opened in July last year

The students enrolled for this course were trained by Bitmain’s Senior Engineers of the Antminer Brand, who guided students through the foundations of mining farm operation and maintenance – as well as the more technical aspects of chip-welding, installing hashboard testers and software, and maintenance of the Antminer 17 series.

Bitmain acknowledges the hard work of the cohort, who were required to pass both a theoretical and practical exam with scores of at least 80 percent.

Graduates received “Level-1 Qualification” certificates, which validates that they have the basic skills required for miner maintenance. These ATA course certificates aim to be a global standard for cryptocurrency miner maintenance. With these certifications, graduates are also now authorized to buy miner materials. 

“Quality training is often what stands between proper long-term mining care and poor maintenance. It was a no-brainer to attend the US-based ATA course; the new location makes it much more feasible to get equipped with the right skills,” said Kyle Cosentino, Field Operations Engineer for Crusoe Energy Systems a technology-driven flare mitigation provider. 

Kyle Cosentino was awarded a certificate of Top Performance for his outstanding work during the training period. Kyle Cosentino was also awarded a gift voucher for as part of the prize.

Top student Kyle Cosentino was awarded for his outstanding performance

Overall, trainers were extremely pleased to see the keen interest of students, especially as this is Bitmain’s first overseas branch to open since the pioneer academy opened in Shenzhen last year. 

ATA’s next training period to run from 30th March to 11th April 2020. With only 10 seats available, Bitmain encourages potential students to register early. For further information, please contact us

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