Bitmain Broadcasts Antminer s17 Date: Can It Flip the Firm’s Fortunes Round?

Bitmain Announces Antminer s17: Can It Turn the Company’s Fortunes Around?

Cryptomining producer Bitmain has revealed the discharge date for its next-generation Antminer S17 sequence. The S17 set of miners contains the Antminer S17 Professional, Antminer S17 and the Antminer T17.

The Antminer S17 is the most recent within the firm’s line of fabless mining chips. In keeping with the submit, the chips, that are anticipated to go on sale from April 9, 2019, will present an energy-efficient technique of mining fashionable cryptocurrencies resembling bitcoin and bitcoin money.

The miners will probably be fitted with the 2nd generation 7nm ASIC BM1397 mining chips which Bitmain claims would offer a 28.6 p.c enchancment in energy effectivity.

In keeping with Yanxin, Bitmain’s product supervisor, the improved power effectivity of the S17 miners will result in "improved efficiency in comparison with the earlier technology chip" and the rise within the "hashrate density per unit area," which reduces prices for mining farms.

A Fortuitous Launch Date?

The timing of the S17 sequence launch seems to be following a strategic sample. The Bitcoin halving is projected to hit in Could 2020, simply over a 12 months after the brand new miners turn out to be accessible. The ASIC {hardware} producer used an identical technique in introducing the Antminer S9 mannequin in 2016.

The halving sees to it that the reward given to a miner for mining a block is halved after the invention of each 210,000 blocks (which takes about 4 years on common). It's anticipated that there will probably be a renewed bull run resulting in the third halving, which can see the block rewards diminished from 12.5 BTC to six.25 BTC.

Bitmain’s deliberate launch of its next-generation S17 sequence miners wil enable it to capitalize on this anticipated bull run, which could possibly be fueled by an elevated need to mine bitcoin (earlier than the rewards are reduce in half).

Bitmain’s Challenges

The Chinese language crypto mining large has been broadly reported to be struggling in the previous couple of months. The newest blow to the corporate was the expiration of its Preliminary Public Providing (IPO) submitting, which was triggered by the shortage of a listening to from the Hong Kong Inventory Trade (HKEx).

As Bitcoin Magazine reported, the itemizing guidelines from the Chinese language monetary regulator present for a six-month consideration window and a closed-door committee listening to earlier than approval is given to an IPO software.

If an applicant doesn’t get a response from the regulator after this era, then the applying routinely lapses.

This article initially appeared on Bitcoin Magazine.

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