Cryptocurrency Mining Industry Sees Influx of New Hardware

Published September 2, 2018

The Chinese company Bitmain, has released yet another crypto mining machine. The Antminer E3, as the latest machine is known, joins a line of previous machines that the company has made. The latest machine processes Ethhash in the Ethereum platform. Antminer X3, a previously released rig by the company has been used for Cryptonight algorithms to mine other kinds of coins. There are indeed other rigs as well by the same company used for different processes.

New Entrants from Bitmain
Bitmain has built a great reputation in the crypto mining industry. Since being launched in 2013, it has consistently made a mark in the market with new rigs that are used across the industry. Its founder, Jihan Wu, has been at the head of the company steering its growth. In its native country of China, the company is already huge. It has been reported that it is by now worth over several billion with its 2017 revenue totaling over $4 billion. This makes it one of the biggest tech companies in the country.

The new miners from the company have caused a lot of buzz in the industry. The new Antminer E3, which is already being shipped, has especially provoked Ethereum miners who have issues with the fact that the machine is application-specific (ASIC). Calls are already in place to have a faster hard fork in order to avoid such ASIC machines. Similar sentiments can be observed in the monero (XMR) mining community as well. The Antminer X3 can mine with rates of 220KH/s. Most people who invest in cryptocurrencies either do so by mining or by purchase. Miners thus play a crucial part in the industry.

Halong Mining Machines
It is not just Bitmain that is producing ASIC machines. Recently, Halong Mining introduced new Dragonmint miners. Companies like GMO Group and DMM among others are visible in the industry as well. The Halong miners have been said to be capable of 16TH/s as well as having the ASIC Boost technology. This technology is not particularly being supported by everyone. Skepticism was aired by various people in the industry. Cobra Bitcoin from Bitcoin.org called the Halong Mining a scam. It is not possible yet to have conclusive details about Halong. Even though a couple of people have reviewed the machines, the said performance levels are not yet proven.

It will take time before the facts about the machines come out but with people constantly reviewing the machines, it is just a matter of time before every detail about them reaches the masses.

Canaan Creative Machines
The Avalon 841 SHA-256 is a new machine by Canaan and it is also claiming a spot in the industry The machine claims a 13TH/s hash rate. As opposed to Bitmain, Canaan has had a more established reputation in the market. It already has several series of miners which have been used for mining for quite a while.

The industry is definitely growing with new mining machines being produced. The efficiency of miners has is increasing and the technology is getting optimized. It is thus in order to assume that the next few years will be exciting for the industry.

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