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Hashpower Evolution: Bitmain’s New ASIC Packs 477,677% More Power than the 2013 S1

Hashpower Evolution: Bitmain’s New ASIC Packs 477,677% More Power than the 2013 S1This week, Bitmain introduced its latest bitcoin mining machine, which packs an impressive punch with a reported output of 860 terahash per second (TH/s). To put that in perspective, this new rig churns out 81.81% more hashpower than its predecessor, the Antminer S21 XP Hydro. And if we go way back, it’s a mind-blowing 477,677% […]

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From Teraflux to Antminer: Exploring the Top ASIC Bitcoin Mining Rigs on the Market Today

From Teraflux to Antminer: Exploring the Top ASIC Bitcoin Mining Rigs on the Market TodayDuring the first week of August 2024, Bitcoin’s hashprice—a key metric that gauges the daily value of one petahash per second (PH/s) of hashpower—dipped to its lowest point in history, sliding below $38 per PH/s. In this fiercely competitive bitcoin mining arena, only the most resilient operations can thrive, with the best-performing machines bringing in […]

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190 to 450 Terahash: Microbt Unveils Powerful M6XS+ Miners at Bitcoin 2024

190 to 450 Terahash: Microbt Unveils Powerful M6XS+ Miners at Bitcoin 2024At the Bitcoin 2024 conference in Nashville, the Chinese bitcoin application-specific integrated circuit (ASIC) manufacturer Microbt introduced its new line of M6XS+ miners. These miners offer a hashrate ranging from 190 terahash per second (TH/s) to 450 TH/s, with an efficiency of 17 joules per terahash (J/T). Microbt Reveals Cutting-Edge Whatsminer Rigs Microbt, the developer […]

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Jack Dorsey’s Block Targets Chip Advancement With 3nm Bitcoin ASIC Mining Rig

Jack Dorsey’s Block Targets Chip Advancement With 3nm Bitcoin ASIC Mining RigOn Tuesday, Jack Dorsey, the founder of Block, took to X to announce that the company is “building a mining rig.” Dorsey also shared a blog post authored by Block’s lead for mining hardware products, Naoise Irwin. The post revealed enhancements in the chip design, upgrading from the initially planned 5-nanometer (nm) process to an […]

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Severe Impact Expected for Miners With Outdated Hardware in Upcoming Bitcoin Halving

Severe Impact Expected for Miners With Outdated Hardware in Upcoming Bitcoin HalvingFollowing the downturn in bitcoin’s price on Friday, the hashprice of bitcoin has declined from slightly above $119 per petahash per second to marginally over $116 per PH/s on a daily basis. Should the prices remain low leading up to the forthcoming halving event scheduled for next week, certain mining devices may only be viable […]

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Bitcoin Mining Company Phoenix Group Reports 50% Net Income Increase and 20% Sales Growth

Bitcoin Mining Company Phoenix Group Reports 50% Net Income Increase and 20% Sales GrowthAfter its oversubscribed initial public offering (IPO), Phoenix Group, a Dubai-based company specializing in bitcoin mining and blockchain infrastructure, has announced a significant 50% increase in net income. The firm further revealed a 20% increase in its annual sales compared to the previous year. Dubai Bitcoin Miner Phoenix Group Records Substantial Increase in Year-on-Year Sales […]

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Riot Platforms buys $291M in BTC rigs as miners rake it in from Ordinals

It adds to a prior agreement in which Riot bought 33,280 miners from MicroBT. The term sheet was also updated, allowing Riot to buy another 265,000 miners in the future.

Bitcoin miner Riot Platforms is buying 66,560 Bitcoin mining rigs from manufacturer MicroBT, in one of its largest orders of hash-rate in the firm’s history — ahead of the Bitcoin halving scheduled for April 2024.

The additional purchase agreement totaled $290.5 million, Riot stated in a Dec.

The right-to-purchase option was included in Riot’s initial agreement with MicroBT when it agreed to buy 33,280 machines from MicroBT in June.

Riot’s CEO Jason Les said the purchase order is “the largest order of hash rate” in the company’s history and hopes the updated agreement will enable Riot’s mining performance to strengthen further.

Over 48,000 or 72% of the new machines will be MicroBT’s latest model, the M66S, which has a hash rate of 250 terahashes per second (TH/s), while the remaining machines will consist of the M66 (14,770) and M56S++ (3,720) models, Riot noted.

Altogether, the 66,560 miners will add 18 exahashes per second (EH/s) to Riot’s operations.

Purchase summary of Riot’s latest deal with MicroBT.

Read more

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Riot Platforms to add 33,000 Bitcoin miners ahead of 2024 halving

The new rigs will add 7.6 EH/s to the firm’s self-mining capacity, but won’t be installed until the first quarter of 2024.

Riot Platforms — one of the world’s largest Bitcoin (BTC) mining companies — has bought 33,280 “next-generation” Bitcoin miners for its Texas facility, costing $162.9 million.

The rigs, which were sourced from mining manufacturer MicroBT, will boost the firm’s self-mining capacity by 7.6 exahashes per second (EH/s) and comes “in advance” of Bitcoin’s next halving cycle, which is set to take place in mid-2024.

Riot Platforms CEO Jason Les stated on June 26 that the deal will increase the firm’s self-mining capacity to 20.1 EH/s once the machines are installed in the first quarter of 2024:

“These new miners will contribute an additional 7.6 EH/s to Riot’s self-mining capacity when fully deployed and will further enhance our already strong fleet efficiency in advance of the upcoming Bitcoin halving.”

Les added the rigs we built specifically for “immersion cooling systems,” such as those used at the firm’s Corsicana facility.

Of the 33,280 machines, 8,320 are M56S+ models with a hash rate of 220 terahashes per second (TH/s), while the remaining 24,960 M56S++ are slightly more powerful at 230 TH/s.

However, the machines won’t arrive until December and full deployment of the miners won’t be completed until mid-2024.

Riot said it may also purchase 66,560 M56S++ models before December 31, 2024, adding 15.3 EH/s to the firm’s self-mining capacity. The company may choose to exercise this option in whole or in part.

Despite the news, Riot’s share price fell 7.2% to $10.77 on June 26, according to Google Finance.

Related: Buying Bitcoin is preferable to BTC mining in most circumstances — Analysis

Meanwhile, on June 21, Bitcoin miner Akron Energy announced that it bought a 200-megawatt (MW) mining facility in Hannibal, Ohio, for an undisclosed amount.

It’s the Sydney-based firm’s first expansion into the United States following a $26 million raise on June 20.

The firm plans to immediately complete the first design stage of the Hannibal facility, which it hopes will provide 100 MW of power.

The hosting services will be provided to the firm’s institutional-scale clients in the Bitcoin industry.

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Bitcoin Mining in 2023: 18 Profitable ASIC Devices and the Dominance of Three Major Manufacturers Revealed

Bitcoin Mining in 2023: 18 Profitable ASIC Devices and the Dominance of Three Major Manufacturers RevealedAccording to statistics from mid-May 2023, 18 different application-specific integrated circuit (ASIC) bitcoin mining devices are profitable using today’s bitcoin exchange rates. Additionally, the top bitcoin mining machines today are made by three prominent ASIC manufacturers, as fabrication competition these days is limited. 18 ASICs Profit With Electricity Costs at $0.12 per kWh and Today’s […]

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Chip Giant Intel Abandons Bitcoin ASIC Production

Chip Giant Intel Abandons Bitcoin ASIC ProductionAfter announcing the production of bitcoin application-specific integrated circuits (ASICs), Intel, the world’s largest semiconductor chip manufacturer by revenue, appears to be abandoning its blockchain chip production. On Tuesday, a spokesperson for the chip manufacturer explained that Intel has “end-of-lifed the Intel Blockscale 1000 Series ASIC.” Intel Spokesperson Discloses Company Has End-of-Lifed the Blockscale 1000 […]

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