It is stated that the new generation of powerful mining devices have reached the farms and can be an effective outlet in the hash rate of Bitcoin with the introduction of it in a short time.
According to several Chinese mining farm operators, mining firm Bitmain’s machines from the powerful S19 series have reached mining farms and will start working soon. This is expected to cause a significant increase in hash rates in the coming weeks.
As is known, S19 machines were put up for sale on March 23 and were exhausted within minutes. The S19 Pro model, which has a processing power of 110 TH / s, has a price of 20,770 yuan (about $ 2900) and the price of S19 with a power of 95 TH / s was 15,495 (about $ 2200). The delivery date of the devices was specified as 11-20 May. The energy efficiency ratio of the S19 Pro was 30 J / TH with a record level, while this figure was 34.5 J / TH in S19.
Competitor M30 machines went on sale in the same period, but delivery started 1 month earlier than S19. Currently, both M30 and S19 machines can be purchased for delivery only at a later date. According to the official website of Bitmain; September is already being marked for the delivery date of the S19.
As will be remembered, it was reported that Bitmain generated over $ 300 million in the first four months of this year. This is the biggest proof that the company performed well in sales despite the coronavirus outbreak and internal problems.
Small miners can’t buy new devices
The industry-leading company said in a statement to the 8BTC on the subject that machine sales are not so much this year due to low supply and limited demand. The reason for this is that the miners on a small scale now lose the financial power to buy new machinery, and the producers receive orders for the future in order not to experience excess inventory problems.
Mao Shixing, co-founder of the leading mining pool F2Pool, said in his speech at the Global Digital Mining Forum that delays in the supply chain make mass production of new generation mining machines impossible.
Liu Fei, CEO of Bixin mining firm, stated that the demand for mining equipment this year was about a third of last year, and its production capacity was one-fifth of last year.
Whatsminer employee Sully Yu said, “The mining industry is actually suffering after the changes. Small-scale miners can’t get powerful machines. Mining activities have grown a lot now. The industry has become refined. The big players see it and act accordingly. “It would be unrealistic to make a quick profit from this sector as in the past.”
China’s leadership in Bitcoin mining could be compromised
China, which is the leading country in bitcoin mining, may be endangered by more corporate companies entering the industry and a light bull season. Sully Yu said that there has been an increase in mining machinery orders for North America and the European region, and these orders accounted for 40 percent of the total number. All these figures also confirm the claims that the mining industry is slowly moving from China to North America.