Bitmain Releases Mining Machine For Dogecoin and Litecoin: Experiences

In short

  • China-based blockchain journalist Colin Wu tweeted from the Antminer L7 expo.
  • The L7’s hashrate is nineteen occasions faster than the L3+.
  • Graphics card producer Nvidia has additionally put out premium mining {hardware} this 12 months.

At an exposition in Chengdu in the present day, Beijing-based mining {hardware} large Bitmain launched a brand new mining machine designed for mining Dogecoin and Litecoin, in line with a tweet by blockchain journalist Colin Wu. 

Wu reported that the brand new miner, the Antminer L7, has a hashrate of 9500MH/s and requires 3425 watts to run—the equal to 19 Antminer L3+ miners. The L3+ is Bitmain’s earlier flagship Litecoin mining unit, and continues to be advertised on Amazon as “essentially the most highly effective Litecoin miner” with a hashrate of 504MH/s. 

Bitmain’s new mannequin reportedly retails for 100,000 yuan (round $15,000) a unit, and the corporate affords an abroad low cost of 13%. It expects to ship the primary miners by November this 12 months. 

Mining {Hardware} 2021

To benefit from this 12 months’s bull run, miners sucked up the world’s provide of graphics chips and CPUs. The one miner listed on Bitmain’s web site, the S19j, is bought out. Others are listed as “coming quickly.” 

It’s not simply Bitmain. PC gaming diehards have been struggling to get their palms on new Nvidia chips. Highly effective GPUs like the corporate’s GeForce RTX 3080, RTX 3070, and RTX 3060 Ti are, sadly for players, very environment friendly at mining cryptocurrencies (notably Ethereum). 

In Could, Nvidia introduced it was reducing the hash energy on these models. Then it introduced its personal, purpose-built Ethereum miner, the CMP, or Crypto Mining Processor. On the finish of final month, Quartz reported that the worldwide scarcity of Nvidia chips pumped resale costs by as a lot as 300%.

Whereas the crypto market isn’t any stranger to fluctuation—in the present day is a notably unhealthy day, with costs down by about 5%—the feverish demand for brand new {hardware} signifies that, in mining circles no less than, crypto is anticipated to stay round some time.

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