Chinese company Bitmain unveils new Bitcoin mining device, the T21
The new Antminer T21 mining device was globally launched during the Blockchain Live 2023 forum in Dubai. The manufacturer, Bitmain, secured the position of “Diamond Sponsor” as part of the major unveiling of the latest advancements in Bitcoin mining technology.
The profitability of digital mining depends on various factors, including the value of the cryptocurrency, network difficulty, electricity costs, and initial mining investment.
Bitmain, a specialized Chinese manufacturer of mining hardware, introduced a new ASIC device compatible with the Bitcoin network. The Antminer T21 offers a hash rate of 190 terahashes per second with an energy efficiency of 19 joules per terahash.
Bitmain, the largest manufacturer of ASIC chips for Bitcoin mining, announced that its latest product, the Antminer T21, a SHA256-specific air-cooled mining device designed for Bitcoin, will begin shipping in early January 2024.
The global launch of the Antminer T21 took place during the Blockchain Live 2023 forum in Dubai, where Bitmain proudly held the position of “Diamond Sponsor” as part of the major unveiling of the latest advancements in Bitcoin mining technology.
As mentioned, the new product in the Antminer lineup offers a hash rate of 190 terahashes per second with an energy efficiency of 19 joules per terahash. It is slightly lower in performance compared to its predecessor, the S21 (200 terahashes per second), but with a slightly higher energy efficiency (17.5 joules per terahash). However, in terms of size, design, and weight, the T21 closely resembles its smaller sibling, the S21.
Bitmain’s announcement also highlighted that the devices can operate even in harsh conditions, withstanding temperatures up to 45 degrees Celsius or 113 degrees Fahrenheit.
The cryptocurrency industry offers an optional “Bitcoin Volatility Protection Plan” as part of pre-orders for their new ASIC. It is expected to be shipped in early 2024. The program allows customers to receive financial compensation if the price of Bitcoin falls below the predetermined price during the protection period.
In another matter related to Bitmain, a previous report by Bloomberg in September 2022 revealed that Bitcoin mining companies, including Bitmain, started showing signs of financial distress, as evident from their second-quarter earnings reports.
After a year (October 17, 2023), a report from Crypto News revealed that Bitmain employees raised concerns about delayed salary payments due to cash flow issues. The company reportedly laid off several employees due to liquidity problems.
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