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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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:
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.
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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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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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, together with Gregory Ohanessian, CEO of VMS Security Cloud, who guided students through the foundations of mining farm operation and maintenance – as well as the more technical aspects of chip-welding, installing hash board 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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San Jose, California, December 12, 2019 – Bitmain – the world’s leading producer of cryptocurrency mining hardware is strengthening its global reach by selecting two cryptocurrency mining consulting firms, Fastblock and Bit5ive as the company’s official distributors of Antminers in South America.
“South America continues to be an important region for the cryptocurrency mining sector. Our collaboration with Fastblock and Bit5ive will help us to build on the relationships we have with the mining community on-the-ground and instill trust in the sales process of Antminers,” said Irene Gao, Antminer Sales Director of NCSA.
Bit5ive, a Miami-based firm founded in 2013, that sells, hosts and supports the most advanced cryptocurrency hardware available on the market, will be distributing Antimners to over 30 countries in Latin, Central America and the Caribbean.
“The Bit5ive team looks forward to a close partnership with Bitmain. The official distributor license will help to strengthen the trust South American miners have in Antminer’s sales process,” said Robert D. Collazo Jr., CEO and Co-Founder of Bit5ive.
Fastblock, a Mining As A Service (MaaS) company that has been providing mining consulting services since 2014, will be the main distributor of Antminers in Brazil.
“We are excited to be bringing our blockchain knowledge from managing over 20 mining plants since 2014, to Antminer customers in the region. We are also able to guarantee the best prices and have a highly skilled team that can advise on the most cost-effective solutions for any mining project ” said Bernardo Schucman, CEO and Co-Founder of Fastblock.
The two companies have been selected due to their capabilities in providing customers in those locations further expertise and added solution services such as: Customer Clearance Service, Logistics Service, Mining Farm Hosting Services, Consultancy, and more.
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The digital mining sector is only just ramping up and this year’s World Digital Mining Summit (WDMS) was proof of this.
The second annual industry-wide gathering of the digital mining sector was met with great anticipation with numerous attendees including leading founders, decision-makers and industry experts.
Here are five major highlights from the summit.
1. Bitmain’s co-founder, Jihan Wu, shares four initiatives to drive innovation in digital mining
Jihan Wu speaking to the attendees of WMDS
One of the major points of discussion at the WDMS was about ways to innovate the digital mining sector and during his keynote, Bitmain founder, Jihan Wu, shared four of Bitmain’s initiatives.
First, that Bitmain will soon launch a service called the World Digital Mining Map to provide a better platform to connect mining hardware owners with mining farm owners. This service will be free for BITMAIN customers.
It currently takes too long to repair mining rigs. In response to this issue, Jihan shared that Bitmain’s second initiative would be to launch repair centers worldwide to help cut down the turnaround time for repairs to just three days by the end of 2019.
For its third initiative, Bitmain will also boost its Ant Training Academy (ATA) program on troubleshooting easy-to-fix issues. Mining farm operators can send their technicians to be trained at the ATA where they will graduate with a certificate, which qualifies them to provide services.
Launch of the new Antminer S17+ and T17+
Finally, to keep up with the industry’s changing demands, Jihan shared that Bitmain will launch two new types of mining rigs – the Antminer S17+ and T17+. He also noted that Bitmain’s research and development team had made solid improvements in the design of future mining hardware models.
2. Matrixport’s CEO, John Ge, shared the company’s vision and mission
John Ge, CEO of Matrixport
Another session that drew in crowds was the talk by John Ge, the CEO of Matrixport.
He shared that Matrixport’s vision was to be a one-stop-shop, which will offer custody, trading, lending, and payment services. With its close ties to Bitmain, John also pointed out that Matrixport would give miners an accessible opportunity to enhance their crypto portfolio.
In many ways, he mentioned that Matrixport would be similar to an online bank，where account holders can customize services according to their needs and delegate tasks to a broker to service it.
With trading engines that connect to most exchanges and also to OTC (over the counter) providers, Matrixport would also be best placed to choose the most ideal marketplace for each user’s needs, offering discounts and a tailor-made algorithm to secure a better price and high liquidity. The company will also make it possible to access capital without missing investment opportunities by acting as a lender to the market.
3. Industry leaders discuss the impact of the bitcoin block reward halving
Panel Discussion 1: Impact of the bitcoin block reward halving
The 2020 bitcoin block reward halving event was one topic that was top of mind at WDMS. To discuss the implications for the mining community, industry leaders – including Jihan Wu; Matthew Roszak, Co-Founder and Chairman of Bloq; Marco Streng, CEO of Genesis Mining; Saveli Kotz, Founder of GPU.one; and Thomas Heller, F2Pool Global Business Director – came together to share their insights.
On the previous two halving rounds, the overall sentiment from the panel was positive. However, Jihan also pointed out that there is really no way to know whether the halving triggered the price surge during both events. “We just don’t know, there is no scientific data to support any theory. Crypto itself has a lot to do with psychology, some people thought the world would end when the price dropped dramatically in the past. In the long run, this is a rather small event in this industry. This industry is driven by adoption and that is a trend which is increasing,” he said.
When asked about strategies for miners around the halving, a key theme from the panel was that keeping up to date with innovations would be essential. Jihan shared that one of Bitmain’s strategies was to focus on power efficiency regardless of whether the price remained the same or not.
4. Panel discusses the traditional finance and crypto finance ecosystem
Panel Discussion 2: Traditional finance and crypto finance ecosystem
The WDMS also covered developments in the crypto finance ecosystem. Interestingly the experts dedicated to this panel all came from traditional finance backgrounds before entering the crypto sector. This included: Cynthia Wu, Matrixport Cactus Custody (Chair); Tom Lee, Head of Research, Fundstrat Global Advisor; Joseph Seibert, Managing Group Director, SVP of Digital Asset Banking at Signature Bank; Rachel Lin, Matrixport Head of Lending and Payment; and Daniel Yan, Matrixport Head of Trading.
On mainstream adoption, Rachel said that in time, authorities will have to catch up, as examples like Libra show. Adoption from the traditional finance sector ranges in many ways. Daniel shared about interested hedge funds, which eventually shied away from investing in cryptocurrencies because of regulatory insecurities and risks. Still, he believes this to be a gradual development and is convinced that it is good to go slow to give traditional players a chance to adapt to the changing environment.
When asked for a product that miners and the industry are in dire need of answers from the panelists ranged from better user interface and better interoperability, second-layer solutions over securitisation of assets and stable managing products to any product that is developed with client feedback to make sure that it will be a sustainable solution for the entire market that people will really use.
5. The top ten mining farms announced
WDMS: Winners of the Top 10 Mining Farms
To provide a platform for mining farm owners to share and exchange insights, Bitmain launched the search for the “Top 10 Mining Farms Around the World”. The contest was an invitation to those in the global mining industry to vote for the most innovative operations out there.
The top 10 mining farms were chosen based on what miners preferred the qualities a perfect mining farm must possess. Important qualities include but are not limited to the mining farm history, the condition of the mining farm, operation and management of the mining farm.
Winners from the top ten mining farms: Etix, Coinsoon, MineBest, GPU.One, Enegix, Bitriver, Block One Technology, CryptoStar Corp, DMG, and RRMine.
In order to further develop providing the industry with new opportunities and partnerships, preparation of the next World Digital Mining Summit will soon begin. The next summit will invite new and old attendees from the blockchain and mining sector to again be part of the world’s largest dedicated mining conference.
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SINGAPORE, 11 September 2019 –Bitmain – the world’s top 10 fabless chipmaker – is set to release the world’s first Big Data Analysis Report of Global Mining Farms during the World Digital Mining Summit (WDMS) on 8-10 October in Frankfurt.
The report will provide in-depth analysis and insights on the cryptocurrency mining industry – covering mining farms, to global electricity costs, site selection of mining farms and construction expenses – to help decision-makers have a more complete and comprehensive understanding of the market opportunities, risks and hurdles.
“Bitmain is proud to be leading research and development efforts in the cryptocurrency mining industry and this comprehensive big data analysis report is a successful outcome of it, thanks to our strength and experience accumulated in this industry,” said Matthew Wang, Director of Mining Farm of Bitmain.
The agenda for the two-day summit features industry investment and innovation for the mining sector. Jihan Wu (Bitmain Co-Founder), John Ge (Matrixport CEO), Marco Streng (Genesis Mining CEO), and more than 30 industry leaders will gather to share their knowledge and insights of the industry.
Keynote speech topics include but are not limited to: Decentralized Digital Mining, Mining and Power Generation，Higher Efficiency of Mining Operations, New Trends in Digital Mining, Innovating in Mining – New Revenue Streams, Development of Miner Firmware, Modular Design, and Construction of Data Center.
Participants of the WDMS can also expect panel discussions on Bitcoin Block Reward Halving and Traditional Finance and Crypto Finance Ecosystem, as well as networking dinners and opportunities of growing their network and business.
