Bitmain, the Chinese mining giant, recently announced that its Antminer S17 will be globally released on 9 April 2019. Earlier this month, the mining giant had revealed the new model of its Antminer 17 series machines to mine Equihash-powered Proof-of-Work coins. Antminer, on its official Twitter handle, posted,
We’re officially announcing the selling date of the long-awaited Antminer S17 Pro, S17, and T17, which will be released on April 09. Stay tuned for more information! #AntminerS17Pro #AntminerS17 #AntminerT17 #BitcoinCash #Bitcoin pic.twitter.com/zu4abKrK9P
— Antminer_main (@Antminer_main) March 29, 2019
In the blog post, the Chinese chipmaker stated that the new mining equipment in the 17 series would include Antminer S17 Pro, Antminer S17, and Antminer T17.
Bitmain’s much-hyped mining devices were reportedly sold out within 20 minutes of the pre-selling phase on its website. The Bitcoin mining firm claimed that the latest version offered a hashing power of 135 KSol/s, which was three times more powerful than the previous Antminer Z9, released in May last year. This will reduce mining costs and subsequently help save nearly 60% in electricity costs, when compared to its predecessor.
Yangxin, Product Manager of Bitmain’s latest Antminer series, had this to say,
“Electricity bills are very high for Bitcoin mining right now so the improved energy efficiency means a significant drop in costs and, thus, increase in profits. Secondly, the new miner offers a steep improvement in the hashrate in terms of space and power consumption.”
Bitmain reportedly incurred a net loss of $395 million in the second quarter of 2018. The firm further reported major losses following overproduction of ASIC miners.
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Bitcoin’s censorship resistance, freedom make it a game changer in the economic industry
Over the years, the global economic industry has witnessed significant changes. However, no change has been more significant or essential than the one introduced by the concept of virtual assets or Bitcoin. Today, Bitcoin and other virtual currencies are almost as essential as fiat money and despite the fact that digital assets have not reached worldwide adoption, the pace of growth has been substantial.
In a recent panel discussion, Jedidiah Taylor, CEO and Founder of Decent.Bet, the smart contract-based sports betting platform, stated that the idea of Bitcoin and blockchain technology projected a perspective of freedom and honesty which allowed individuals to have direct control over their own capital, without any oversight supervision from financial institutions.
The sentiment was followed by Nico De Jonghe, Founder and CEO of NDJ Investment Group, who added that the threat of decentralized assets loomed the largest over centralized institutions like banks, who were worried of the future prospects offered by Bitcoin and its impact on the long-term financial situation.
Tone Vays, a reputable analyst and Bitcoin proponent, opined and stated that Bitcoin’s biggest strength was the fact that it was completely “unconfiscatable” and that one’s BTC is completely safe if it is protected and secured with attention. The characteristic of censorship-resistant value transfer is also an absolute game-changer for Bitcoin, allowing it to competitively exist in the financial system.
The value of Bitcoin has often been criticized in the past, but its valuation has consistently proven its worth. In fact, Bitcoin has grown by more than 150 percent in 2019.
At press time, Bitcoin was priced at $11,371, with a market capitalization of over $202.18 billion. The staggering valuation of an asset that was unheard of 10 years ago, further underlines the potential of Bitcoin in the current market scenario and for the future economies.
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