Chinese crypto mining giant and ASIC hardware producer Bitmain recently announced a launch date of April 9th for its new energy-efficient Antminer S17 series miners. The news came through an official Bitmain blog post on March 29.
The new miners will be fitted with Bitmain’s 7nm (nanometer) ASIC mining chip. Models Antminer S17 Pro, Antminer S17 and Antminer T17 will be released on April 9th.
Yanxhin Bitmain’s product manager for the new Antminer S17 series said
“This marks a steep improvement in the hashrate in terms of space and power consumption and BM1397 chips provide “a 28.6 percent improvement in power efficiency in comparison with Bitmain’s previous 7nm chip, the BM1391.”
Not only will it increase electricity consumption cost savings due to increased energy efficiency, having a higher hashrate in a single miner will increase the hashrate density per unit space and ultimately save on deployment costs for mining farms.
Yanxhin further gave a technical perspective on future developments of higher hashrate miners beyond 7nm chips, noting that:
“There is no end to the development of technology. However, in the short run [...] the challenges of nanometer scale mass production require more investment and further research and development. [...] For the near future, 7nm would remain the most preferred in terms of performance and economics.”
Having gone through a 6-month bearish crypto market, an unnamed source at Bitmain had hinted that the forthcoming 2020 Bitcoin block reward halving could be a relief and offer a positive boost for the launch of the firm’s Antminer S17 series.
The Bitcoin block reward size is set to decrease from 12.5 BTC to 6.25 BTC per block in May 2020. In line with previous patterns, some analysts further predict a Bitcoin price surge ahead of the halving possibly beginning around June 2019.
The undisclosed Bitmain source thus reportedly stated that,
“Bitmain is now betting that its next flagship product [...] will turn out to be a winner in the mining gear market, capturing an expected rally.”
Bitmain was founded by Jihan Wu and Micree Zhan in 2013. By 2018 it had become the world's largest designer of application-specific integrated circuit (ASIC) chips for bitcoin mining. The company also operates BTC.com and Antpool, historically two of the largest mining pools for bitcoin. Bitmain was reportedly profitable in early 2018, with a net profit of $742.7 million in the first half of 2018.