Bitmain Braces following New AntMiner Release

Bitmain officially announced the release of two 7nm Antminers on November 5th via social media platform, Twitter. Dubbed the S15 and T15, these new ASIC miners are designed for use on the SHA-256 algorithm and are now available for purchase.

The new S15 and T15s apparently offer hash rates that will be able to compete with some of the most powerful ASIC mining hardware currently available. The company’s November 5th tweet reads:

“We are officially announcing the release of our new 7nm miners which possess industry-leading hash rates designed to mine with the SHA256 algorithm. Two models will be offered, the Antminer S15 and T15. Available for purchase on 11/8 [Nov. 8].”

In September, Bitmain co-founder and ex-CEO, Jihan Wu revealed the company’s intentions to produce a chip that integrated ‘more than a billion transistors’ by way of low power-intensive technology. Wu boasted that the new chip would be able ‘to a ratio of energy consumption to the mining capacity that is as low as 42J/T.’

Unsurprisingly, very little information has yet been provided regarding the specifications of Bitmain’s latest AntMiners. However, the S15 is said to offer around 23 TH/s which is paltry in comparison to Bitfury’s Tardis which provides around 80Th/s.

Circling the Wagons

Nevertheless, the two new Antminers represent Bitmain’s latest efforts to compete in an increasingly crowded marketplace for ASIC manufacturers. Rivals such as Bitfury, Canaan and Innosilicon are starting to nibble away at Bitmain’s domination by releasing ever more powerful and efficient ASIC crypto miners. For example, Bitfury’s Clarke chip, which the S15 and T15 will be competing against, offers a hash-rate of up to 120GH/s.

As well as the new ASIC hardware, Bitmain recently announced a new firmware update for its range of Antminers, enabling them to use ‘Overt ASICBoost’ functionality. Although the idea was to improve their ‘effectiveness’, the move generated a great deal of criticism.

Tough at the Top

One wonders if the Chinese giant is getting a bit twitchy in the face of increased competition as well as the forthcoming IPO, which appears to be hanging over the company like the Sword of Damocles.

Because accompanying the release of ‘industry-leading’ hardware, comes the news that Jihan Wu has been put out to pasture as part of a board reshuffle. According to industry news sources, the Bitmain co-founder has been relieved of his voting rights and given an advisory role.

Chinese media outlet, 8btc, also reports that four out of six directors have resigned from the board including Zhou Feng, Ge Yuesheng and Zhao Yifeng.

Enterprising Times

What’s more, US semiconductor manufacturer, AMD has also thrown its hat into the ring by announcing the production of eight new cryptocurrency mining rigs. For this endeavour it has partnered with ASUS, ASROCK, Sapphire, Rajintek, Biostar and MSI.

Although AMD have yet to disclose any prices for their new rigs, their use of the term ‘enterprise-level quality’ seems to indicate that they’ll be rather pricy.

Nevertheless, the news should offer a few crumbs of comfort to crypto miners currently enduring a pretty sick state of affairs in which the actual mining manufacturers are earning more from crypto mining than they do. Bitmain, take note!

You can read more about AMD’s upcoming rigs through the link below.