As the competition in the Bitcoin mining industry is getting stiffer, companies are coming up with new inventions to outdo each other. Some also do it to regain their lost market. Bitmain, as one of these companies, has not been left out. It recently launched Antminer T19, which is a less expensive bitcoin mining machine. It did this precisely to regain its lost market, as mentioned earlier.
Before we go any further, here is a brief history of Bitmain. Bitmain is a multinational semiconducting company. It was founded in 2013; its head office is located in Haidan district Beijing, with some research centers based in Singapore, Hongkong, and the United States. The New York Times recently described it as the most valuable bitcoin company in the world. This was as a result of their major comeback with Antminer T19.
The computing power of this newly launched Antminer T19 is estimated to be 84 TH/s ( terahash per second) and its efficiency to be 37.5 J/TH ( joules per terahash). This is according to Beijing based company.
Antminer T19 uses the same chip as the one used in S19 and S19 pro. It, however, has a new APW12 power supply and a firmware that is upgraded. The changes were necessary for faster start-up speeds as well as optimized mining experience.
T19 is an improvement of T17, and with its introduction, the Hashrate of bitcoin will seemingly go high. This is according to Riccardo Mori, who is Venezuela based mining operation manager. He is also optimistic about the new hardware; he believes that with its introduction, Bitcoin will be capable of gaining its hash rate once more.
With the information provided on this new hardware, we can concur with Mr. Riccardo. It is the latest, and it is modelled after Bitmain’s BTC miner, which is antminer S19, which was more efficient. Compared to T19, S19 is 2% higher; its total cost is $1,785, while that of T19 is $1,750. This is because it has a hash rate of 95 terahash per second (TH/s), which is totally above that of T19.
The T19 model can generate a profit of $3.17 each day. This is according to F2pool, one of the bitcoin mining network which operates globally. The yield is a little bit low compared to what S19 generates daily, which is $3.96. The figures are based on the cost of electricity, which is averagely $0.05 per kilowatt-hour.
According to Bitmain, T19 will be on sale as of June 1. It will have a limit of two miners for every customer; this is purposefully to prevent hoarding and ensure that individual buyers can purchase it. The shipment is also scheduled for June 21 and June 30.
The efficiency of antminer T19 is out of the question, especially when compared to T17 and S17, which their rate of failure is between 20-30 percent. It is estimated that the average failure rate should be approximately 5%, but T19 has up to date firmware, enabling it to have a fast start-up speed.
Bitmain was experiencing stiff competition with Microbt, which it almost gave up. The invention of T19 was a lifesaver. Its release coincided with the programmed supply cut of bitcoin of May 11. This program cut the revenue of miners by 50%, resulting in 6.25 Bitcoin per block. This ultimately affects the miners who were forced to look for alternative mining equipment with high efficiency.
By 2019 Microbt was making significant moves, its whatsminer series was selling highly, and Bitmain could not match it. As a result, it lost almost 10 % of its market share. The trend was being anticipated to go beyond 2020. This is according to coin shares.
While Bitman’s antminer S19 wasn’t received well during its launch, especially by the cryptocurrency community, the release of T19 was mind-boggling. During the launch of S19, Bitmains was criticized by many for fixing their new miners’ shipping date to May 12. This was a day after the scheduled bitcoin halving. Social blade CEO Jason Urgo specifically criticized the company for holding up on the miners only to release them when they were through with them.
Besides these external pressure, Bitmain has had its fair share of internal disputes. The defunct 17 series was a total blow; the struggle for power between the two founders, Micree Zhan and Jihan Wu, caused a street brawl. However, Bitmain still retains its top position in the mining race.
Bitmain’s most recent internal strife has posed a lot of temptation, especially to its position. As a result, they are looking for other alternatives to maintain their influence in the industry. Speaking to Cointelegraph, Xu mentioned that Bitmains would continue to dominate the industry, which is due to its network effect.
According to the latest report, there was an intensified dispute within the company as Micree Zhan, accompanied by private guards, tried to overtake the Bitmain’s Beijing office. Despite all these, Bitmain is doing a further expansion of its operation. It had already revealed the plans to extend its certification program, especially to North America, where the initial course is expected to launch. All these can prove beyond a reasonable doubt that Bitmains is doubling down on the recently growing US mining sector.
The largest mining facility worldwide is already in operation, and the Beijing office manages it. It is located in Rockdale, texas.it has a planned capacity of 50 megawatts, which can still be expanded to 300 megawatts.
As you can see, It is evident that Bitmain is doing great things, and with the introduction of the antminer T19, it will take time for other companies to outdo it.
The full model name in AntminerT19, also known as model 240-ca, was manufactured by Bitmains and released in June 2020. For more information about Bitmain, you can contact them using the following URL: https://www.bitmain.com/