Cryptocurrency miners relying on the Bitmain S17 and T17 Antminer have said that the rigs have failure rates between 20-30% where they would normally be roughly 5%. According to an April 26 tweet from Samson Mow, Chief Strategy Officer (CSO) of blockchain infrastructure firm Blockstream, Bitcoin (BTC) miners using rigs from the world’s largest manufacturer of cryptocurrency mining equipment have been reporting technical issues. Heat sinks on the Antminer S17 and T17 rigs have been falling off, causing the machines to short out. In addition, users have reported problems with the power supply fans on the S17. Both pieces of …

Bitcoin (BTC) mining firm Riot Blockchain has entered into a deal to relocate a portion of its mining operations to a facility in New York operated by Coinmint. Riot claims to have assessed the risks associated with operating in New York amid the COVID-19 pandemic and determined that Coinmint’s “plug and play” infrastructure mitigates many of the concerns pertaining to coronavirus. The partnership comes amid thin profit margins for many United States-based mining companies resulting from the mid-March crypto market crash. Riot Blockchain relocates S17s to New York In a press release, Riot states that it has entered into “a …

With the COVID-19 pandemic grabbing most headlines the past few weeks, the cryptosphere has been directing some of its attention toward Bitcoin’s reward halving. With the event just four weeks away and the Bitcoin Cash and Bitcoin SV halvings already executed, the anticipation for Bitcoin’s halving is at an all-time high. “Bitcoin halving” interest rising over time. Source: Google Search Trends The halving grants Bitcoin (BTC) one of its most important features — its deflationary status. Bitcoin started out with 50 BTCs being created with each block, which took approximately 10 minutes to mine, but this rate is subsequently cut …

The world’s largest manufacturer Bitcoin ASIC miners, Bitmain, has sold out its first round of domestic Antminer S19 sales within 24 hours of accepting orders. On March 23, Bitmain tweeted that it opened up its first phase of domestic sales for its long-await Antminer S19s — before selling out on the same day. Antminer S19s will ship from March 11 The first version of the Antminer S19 will have a hashrate of 95 terahashes per second (TH/s) and an energy efficiency of 4.5±5% joules per terahash (J/TH), while the Antminer S19 Pro boasts a hash rate of 110 TH/s and …

Leading mining hardware manufacturer Bitmain has announced two new upcoming miners — the Antminer S19 and the Antminer S19 Pro. According to a press release on Feb. 27, the Antminer S19 will boast a hash rate of 95 terahashes per second (TH/s), and the Pro will offer 90 TH/s. However, Bitmain’s website claims that the Pro model can produce 110 TH/s. Both miners will have a power efficiency of 34.5+/-%5 joules per terahash. No release date or price information has been announced for either model. The S19 series will replace the Antminer S17 67 TH/s and the T17 55 TH/s …

Cryptocurrency mining firm Riot Blockchain announced the purchase of an additional 1,000 next-generation Bitmain S17-Pro Antminers on Dec.12. This completes the upgrade of its Oklahoma City mining facility, following an initial purchase of 3,000 units announced on Dec. 4. The latest generation of Application-Specific Integrated Circuit miners from mining hardware giant Bitmain represents an approximate 50% improvement in hardware power efficiency compared to the S9 Antminers currently in use by Riot. The company anticipates that the new miners will generate 440% of the hashrate of the S9s while consuming only 220% of the power. Riot mined over 1,820 Bitcoins (BTC) …

Jihan Wu, co-founder and CEO of Chinese mining giant Bitmain, believes the next Bitcoin (BTC) block reward halving may not lead to a bull market, but the coin’s price will grow in the long term. According to Chinese industry news outlet 8BTC’s report published on Oct. 11, Wu made his remarks during the World Digital Mining Summit held in Frankfurt. Bulls may be late this time Per the report, Wu explained that the crypto market moves in cycles and this time the next bullish phase may not start after the halving. He is also confident that in a long-term perspective …

Electronics giant Samsung filed for a patent in May 2019 titled, “Programmable Blockchain Solid State Drive and Switch.” Even though few details are known about the newly designed system, a surge in patent applications filed by large corporations on blockchain is clearly visible. Related: Bank of America’s Blockchain Foray: Patent Trolling or Hedging Risks? Patent wars — i.e., battles between corporations or individuals to secure patents for litigation — are certainly not new. They have been widely practiced in the tech ecosystem since the times of Alexander Graham Bell at the turn of the 20th century, who was involved in …

Bitmain, the largest manufacturer of mining equipment, recently revealed the Antminer Z11 device for mining Zcash and other cryptocurrencies based on the Equihash algorithm, as reported by Cointelegraph on March 19. The company claims that the new chip is three times more powerful than its predecessor, the Antminer Z9, which was released nine months ago. Introducing the #AntminerZ11 that packs 3X more hashing power than its predecessor! The Z11 mines #Zcash under the Equihash algorithm. Performing with a hash rate of 135 KSol/s and power consumption of 1418 W. Click here (https://t.co/woThhXNxjd) to learn more. pic.twitter.com/HzCLKR7dVc — Antminer_main (@Antminer_main) March …

Disclaimer: This article has been updated to reflect that Bitmain Z11 ASIC miners are for Equihash algorithm coins, not Proof-of-Stake. Embattled cryptocurrency mining giant Bitmain has allegedly hinted the release of its new mining hardware could hinge on the 2020 Bitcoin (BTC) block reward halving. The news was reported by English-language Asia news outlet South China Morning Post (SCMP) on March 27. Bitmain, which has seen a testing six months as market volatility triggered redundancies and a failed public flotation, reportedly said next year’s event could reverse its fortunes. SCMP cited a “a company source with knowledge of the plan.” …

Cryptocurrency mining giant Bitmain has released a new version of its Antminer Z series machines for Equihash algorithm coins, the company confirmed in a blog post on March 19. The Antminer Z11, which comes around ten months after the release of its predecessor the Z9, claims to treble the hashing power available for its target cryptocurrencies. Equihash is the algorithm used in altcoins such as Zcash (ZEC) and ZenCash (ZEN). The move sees Bitmain continue to forge ahead with new products despite challenging market conditions within the mining industry, the company previously closing down some aspects of its operations. “The …

Jihan Wu and the Jenke Group will be reportedly soon retire as CEOs of leading mining ASIC producer Bitmain. Rumors about their departure were reported by Chinese local media Odaily on Dec. 28. Odaily quotes an unnamed source familiar with the situation that Bitmain is currently in a transition period. Furthermore, the article also reports that employees allegedly weren't optimistic about the outcomes of the double-CEO system. The Chinese local outlet also notes that their successor is supposedly surnamed Wang, without providing further information. In mid-November, Chinese local media reported that Wu would no longer be able to influence corporate …