New Zealand markets closed
  • NZX 50

    11,730.52
    -29.49 (-0.25%)
     
  • NZD/USD

    0.6457
    +0.0026 (+0.41%)
     
  • NZD/EUR

    0.6286
    +0.0060 (+0.97%)
     
  • ALL ORDS

    7,288.80
    -36.60 (-0.50%)
     
  • ASX 200

    7,032.50
    -38.50 (-0.54%)
     
  • OIL

    91.88
    -2.46 (-2.61%)
     
  • GOLD

    1,818.90
    +11.70 (+0.65%)
     
  • NASDAQ

    13,565.87
    +273.89 (+2.06%)
     
  • FTSE

    7,500.89
    +34.98 (+0.47%)
     
  • Dow Jones

    33,761.05
    +424.38 (+1.27%)
     
  • DAX

    13,795.85
    +101.34 (+0.74%)
     
  • Hang Seng

    20,175.62
    +93.19 (+0.46%)
     
  • NIKKEI 225

    28,546.98
    +727.65 (+2.62%)
     
  • NZD/JPY

    86.1590
    +0.6720 (+0.79%)
     

Bitmain to Start Selling New Ethereum Mining Rig Model Wednesday

·1-min read

Don't miss CoinDesk's Consensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.

Bitmain, the world's leading manufacturer of bitcoin (BTC) miners, will start selling a new Ethereum rig model on its website on Wednesday, even as the second-biggest cryptocurrency network moves away from proof-of-work (PoW) technology.

  • The Chinese rig maker announced the news on Twitter Tuesday, saying "The Time Has Come."

  • Unlike bitcoin mining, which is mostly accomplished with application-specific integrated circuits (ASIC) – meaning chips that are tailor-made for the job – ether mining generally uses graphics processing units (GPU), which are also utilized in other types of computing. The increasing popularity of ether mining was a key factor in driving up the prices of GPUs in 2021, so much so that technology company Nvidia (NVDA) launched mining-specific GPUs.

  • But as Ethereum moves toward proof-of-stake (PoS) mining, GPU prices have significantly decreased. The changover, known as the Merge, has been consistently delayed in the past few months.

  • The new Antminer E9, as the rig is called, was revealed more than a year ago.

  • The model that goes on sale Wednesday at 9 a.m. ET (13:00 UTC) is slightly more energy efficient than was detailed last year, consuming 8 joules/terahash (J/TH) instead of 8.5 J/TH. The model is equivalent to 25 Nvidia GeForce RTX 3080 graphics cards, Bitmain said, as opposed to 32 RTX 3080, which is what it promised last year.

  • Bitmain had released another Ethereum mining rig, the Antminer E3, in 2018, but is no longer selling it on its website.

Read more: GPUs Get Cheaper as Ethereum’s Switch to Proof-of-Stake Gets Closer

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting