According to current metrics, older bitcoin mining rigs are not generating the same revenue as they did before the halving, particularly with the hashprice at approximately .056 per terahash per second (TH/s) per day. On April 25, Luxor Technologies reported a significant decline in the prices of application-specific integrated circuit (ASIC) bitcoin mining rigs, highlighting […]
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Arkon Energy Strikes Deal With Bitmain for 27,700 Bitcoin Mining Rigs
On Tuesday, the Ohio-based bitcoin mining and colocation company Arkon Energy announced its procurement of 27,700 bitcoin mining rigs from Bitmain, equaling a hashpower of 6 exahash per second (EH/s). Ohio’s Arkon Expands Mining Fleet With 6 EH/S Boost From Bitmain Arkon Energy has revealed its acquisition of 27,700 bitcoin application-specific integrated circuit (ASIC) mining […]
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Bitdeer to Boost BTC Mining Capacity With Proprietary Sealminer A1 Rigs, Eyeing 46 EH/S Milestone by 2025
The Nasdaq-traded company specializing in bitcoin mining, Bitdeer, has unveiled its strategy to boost its overall hashrate by an additional 3.4 exahash per second (EH/s) through the deployment of its proprietary Sealminer A1 mining devices. These advanced rigs are slated for setup within Bitdeer’s mining facilities located in Texas and Norway, targeting the latter half […]
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El Salvador Keeps Buying BTC, Top BTC Mining Rigs, Blackrock’s New ‘BUIDL’ Fund, and More — Week in Review
El Salvador continues its daily bitcoin purchases, aiming to keep buying until the cryptocurrency becomes too expensive. The top 10 bitcoin mining rigs of 2024 show significant profit margins due to recent value increases. Blackrock, has submitted a form to the SEC for the initiation of a tokenized investment fund called “BUIDL.” “Rich Dad Poor […]
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LAPD Recovers $6.9 Million Worth of Stolen Bitcoin Mining Rigs, Suspects in Custody
The Los Angeles Police Department (LAPD) has apprehended three individuals following the theft of bitcoin mining equipment valued at .9 million. The Commercial Crimes Division’s Cargo Theft Unit announced the retrieval of all stolen items. California Authorities Arrest Trio for Stealing Bitcoin Mining Hardware On March 19, 2024, the LAPD, along with detectives from the […]
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Top 10 Bitcoin Mining Rigs of 2024: Leading the Charge in Crypto Earnings
Over the past month, the valuation of bitcoin has seen a notable increase, leading to significantly enhanced profits for today’s most sophisticated application-specific integrated circuit (ASIC) bitcoin mining devices. As of March 16, 2024, the top ten ASIC miners focused on the SHA256 consensus algorithm are generating daily earnings ranging from to , assuming […]
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Microbt Debuts M60 Series in Dubai; Bitcoin Mining Rigs Boast 18.5 J/T Efficiency
During the Blockchain Life 2023 event in Dubai, Microbt rolled out its latest Whatsminer M60 series, which boasts an efficiency rating of 18.5 joules per terahash (J/T).
Whatsminer M60 Series Showcased in Dubai
On Tuesday, at the Blockchain Life 2023 conference in Dubai, Microbt showcased three next-generation miners from its M60 series. The firm had teased this launch in mid-September, hinting that the machines would feature enhanced efficiency.
The M60 series includes an air-cooled variant, a hydro-cooled version, and an immersion-cooled model, each delivering an impressive efficiency of 18.5 J/T. The air-cooled M60S clocks in at 170 to 186 terahash per second (TH/s), whereas the hydro-cooled M63S ranges from 360 to 390 TH/s.
Dubbed the M66, the immersion-cooled miner churns out a notable 270 to 298 TH/s. This unveiling aligns with recent releases from the top trio of mining rig producers, all of whom have amped up their efficiency metrics.
Bitmain’s new S21 models range from 16 J/T to 17.5 J/T, with hashrates spanning 200 TH/s to 335 TH/s. Canaan’s newest Avalon 14 has an efficiency metric of 19.5 J/T, exclusive to its hydro-cooled version.
The Avalon 14 air-cooled counterpart registers at 21.5 J/T. These fresh offerings, with their elevated hashrates and optimized efficiency, are poised to supercharge the network’s cumulative hashrate.
As of October 23, 2023, Bitcoin’s seven-day simple moving average hashrate is coasting along at 452 exahash per second (EH/s). As bitcoin’s value surged this week, the network’s hash value, priced per petahash per second (PH/s), climbed to per PH/s daily.
What do you think about Microbt’s new Whatsminer bitcoin mining rigs? Share your thoughts and opinions about this subject in the comments section below.
Auradine Unveils Teraflux, New Line of US-Crafted Bitcoin Mining Rigs Providing Up to 270 TH/s
According to a press release published July 25, 2023, Auradine, a new competitor in the blockchain infrastructure sector, is entering the application-specific integrated circuit (ASIC) bitcoin mining industry with a line of bitcoin mining rigs known as the Teraflux series. Auradine’s new machines boast hashrates between 185 terahash per second (TH/s) and 270 TH/s.
Auradine Introduces Teraflux Bitcoin Miners
Auradine, a firm launched in 2022, recently emerged from stealth mode, revealing it raised million in a Series A funding round in mid-May 2023. Celesta Capital and Mayfield led the funding round, with other participants including Marathon Digital Holdings, Cota Capital, DCVC and Stanford University. On Tuesday, the company announced a new line of miners, the Teraflux line, which are application-specific integrated circuit mining rigs designed and manufactured in the United States.
Additionally, Auradine’s announcement on Monday revealed that the machines use a 4-nanometer semiconductor and proprietary mining technology called Energytune. According to the company’s press release, Energytune technology allows miners to “dynamically adjust the energy consumption and bitcoin hashrate based on demand response needs of the electrical grids.” Fred Thiel, CEO of Marathon, detailed that Teraflux improves demand response “at a fleet level that is critical to our mining operations.”
Auradine’s 4-nanometer-powered ASIC rigs will compete with the top three dominant ASIC mining device manufacturers: Bitmain, Microbt, and Canaan. It was recently discovered that Microbt’s Whatsminer M56S++ uses Samsung’s 3-nanometer Gate-All-Around semiconductors. The M56S++ reportedly produces 230 to 254 TH/s, and the Whatsminer M53S++ can reportedly produce up to 320 TH/s. According to machine specifications, Bitmain’s S19 XP Hyd can produce up to 257 terahash per second.
According to Auradine’s website, it offers three unique mining rigs that provide between 185 TH/s and 270 TH/s. The air-cooled miner produces 185 TH/s and approximately 22 joules per terahash. The single-phase immersion miner can produce up to 250 TH/s with 21 joules per terahash. The dual-phase immersion Teraflux bitcoin miner produces 270 TH/s and 21 joules per terahash. However, the dual-phase immersion shown is simply a sketch of the product.
The announcement from Auradine on Tuesday noted that the systems will ship to early-access customers in the third quarter, with production volumes starting in the fourth quarter of 2023.
What do you think about the new line of U.S.-made bitcoin mining machines created by Auradine? Share your thoughts and opinions about this subject in the comments section below.
New Study Highlights Bitmain’s S19 Mining Rigs Dominate Bitcoin Network’s Hashrate
Coin Metrics researchers published a groundbreaking study on June 13, unveiling an innovative nonce analysis methodology for bitcoin mining. This research enables experts to dissect and identify the specific mining rigs responsible for contributing hashrate to the network, while also evaluating the energy consumption and effectiveness of these machines. Intriguingly, the data reveals that Bitmain has exerted its dominance over the industry for an extended period, with three primary Antminer models now commanding the majority of today’s hashrate.
Groundbreaking Methodology Shows Researchers Can Dissect and Identify Miner Type, Energy Usage, E-Waste, and Efficiency
Karim Helmy, a researcher at Coin Metrics, revealed a new mining study, titled “The Signal & The Nonce,” that takes a fresh approach to exploring the hashpower of the Bitcoin network. Introducing an innovative methodology, the study utilizes nonce patterns to unveil the market share held by each significant application-specific integrated circuit (ASIC) mining rig that drives the network’s operations.
To decipher the data, Helmy acquired or leased a diverse range of ASICs that were the subject of the research. In order to gather insights, he established a proxy pool utilizing Luxor’s relay system. This relay intercepted and meticulously recorded a substantial volume of nonces generated by each ASIC device. Subsequently, the collected data was encoded and transformed into various formats, enabling the identification of patterns with enhanced clarity like never before.
A few notable points emerge from the data, including “Bitmain’s sustained dominance in the hardware market,” as outlined in the research. Moreover, it is noteworthy that Bitmain’s 2016 Antminer S9 has displayed “surprising resilience,” as these older miners have recently fallen below the threshold of detectability. Presently, Bitmain’s S19j stands as the most dominant ASIC, with the machines generating over 34% of the total hashrate. When considering the combined contributions of the S19 and S19 XP units, they account for nearly 42% of the hashrate.
Although the growth rate of the S19 XP has risen, according to Coin Metrics, Microbt’s Whatsminer M50s ASIC machines are now undetectable. Furthermore, Coin Metrics uses these statistics to evaluate the overall efficiency of the hardware utilized in the network. This information allows miners to accurately evaluate their position compared to competitors and determine the ideal timing for hardware upgrades. In a tweet, Helmy stated, “The current network composition is staggeringly efficient.”
The report also assessed Bitcoin’s energy consumption and compared it to the electricity consumption index developed by Cambridge University’s Centre for Alternative Finance and Digiconomist. According to Coin Metrics’ study, the network utilized fewer gigawatts of power in contrast to the indexes released by these two entities. “This newer methodology has several advantages over the existing body of research,” the researchers opine. “We estimate the network’s power draw at roughly 13.4 GW, or about 16% less than Cambridge’s estimate of 15.9 GW for the month of May 2023.”
What are your thoughts about Coin Metrics’ latest study and the dominance of Bitmain’s S19 machines today? Share your thoughts and opinions about this subject in the comments section below.
Police in Kosovo Seize Crypto Mining Rigs From Serbs
Kosovo police have seized dozens of crypto mining devices from residents of a majority Serb region in the north of the country. Authorities in Pristina and Belgrade exchanged accusations over the move, which has the potential to raise tensions in the ethnically divided, partially recognized Balkan state.
Kosovo Government Cracks Down on Crypto Mining in Mainly Serb North
Law enforcement in Kosovo has carried out raids against cryptocurrency mining in a northern municipality where Serbs form the majority of the population, the Turkish Anadolu Agency reported, quoting a member of the Albanian-led government in Pristina.
According to Economy Minister Artane Rizvanolli, police have seized 174 devices designed to mint digital currencies. Announcing the operation in Zubin Potok on social media, she insisted that the failure to pay electricity bills encourages such illegal activities.
Consumers in the predominantly Serb northern part of Kosovo have not paid for electric power in over two decades. Serbia does not recognize the unilaterally declared independence of the territory, the rest of which is mostly inhabited by ethnic Albanians.
Belgrade says the crackdown is an attempt to provoke Serbs to escalate tensions in the breakaway region. The Office for Kosovo and Metohija under Serbia’s government highlighted that the raids were conducted on Good Friday, a holy day for Orthodox Christians, describing the police operation as a continuation of the harassment of the Serbian people.
Serbia is portraying the operation as one targeting Serbs, according to Blerim Vela, the cabinet chief of Kosovo President Vjosa Osmani. “The Serbian government openly supports criminal activity in northern Kosovo and tries to present it as an attack on local Serbs,” he was quoted as stating.
Pristina halted the extraction of cryptocurrencies throughout Kosovo in January 2022, citing negative effects of the global energy crisis, and renewed the ban in August, seizing hundreds of crypto mining machines last year. It has been reported that the total of unpaid electricity and water bills in four Serb municipalities in northern Kosovo exceeds €300 million (almost 0 million).
What are your thoughts on the ongoing crackdown on crypto mining in Kosovo? Share them in the comments section below.