BITMAIN Releases Two Antminers and AMD Collaborates with Eight Tech Firms

BITMAIN Releases Two Antminers and AMD Collaborates with Eight Tech Firms

The Antminer S15 and T15, made to mine algorithm SHA256, is scheduled to be available by 8 November, 14:00 (GMT +8); AMD continues developing crypto miners despite negligible Q3 sales

BITMAIN’s Jihan Wu tells that both Antminer models are equipped with BM1391 using 7nm Finfet technology to provide more hash power and more efficiency for miners. According to him, the chip can attain an energy to hash ratio of 42J/TH.

The mining hardware developer has yet to reveal the specifications and price of the new models.

AMD Pushes to Make Better Crypto Mining Products

In a bid to make better mining solutions, Advanced Micro Devices Inc (AMD), teamed up with ASROCK, ASUS, Biostar, MSI, Rajintek, Sapphire, and TUL. Together with their partners, AMD developed products such as the Sapphire INCA CS-14 Series and the MSI Blockchain Rig F12.

For this year’s second quarter, companies reported less than favorable sales of mining equipments. AMD called their Q3 sales negligible, and during Q2 Nvidia was determined to exit the market.

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How a Large Cryptocurrency Mining Operation Is Handling the Current Market

Cryptocurrency miners of all sizes have been suffering from the bear market that has heavily depressed prices, causing some to abandon the field as their proceeds were no longer covering expenses. However, for others this period has formed a time to grow while their competitors are struggling. To find out how one operation is handling the situation, news.Bitcoin.com talked to the CEO of Bitfarms about a big step his company recently took. Also Read: Bitmain Releases Miner 3x More Powerful Than Its Predecessor Bitfarms Secures $20 Million in Loan Financing Bitfarms Ltd. (TASE: BLLCF) notified investors earlier this month that it has secured $20 million in strategic debt financing to fund the crypto mining company’s ongoing operational expansion. The capital is being provided by New York-based Dominion Capital and will be made available in four $5 million tranches tied to various milestones such as infrastructure building and hardware purchases. The loan will bear a 10 percent interest rate and Dominion will receive approximately 6.7 million equity purchase warrants that can be exercised to acquire Bitfarms’ common shares. Bitfarms operates four mining farms in Québec, Canada with about 220 Ph/s of hash-power, all using green and renewable hydroelectricity. Wes Fulford, CEO of the company, explained to news.Bitcoin.com that Bitfarms has already begun deploying the proceeds of the debt financing deal. The plan is to construct a new center in the municipality of Sherbrooke, Québec and purchase new generation, higher efficiency ASICs as “current hardware pricing presents a compelling opportunity to invest in our operational build-out.” Crypto Winter Brings Challenges But Also Opportunities Besides the obvious negative effects of a sustained bear market, the situation also offers opportunities for big miners. These include the aforementioned cheaper hardware prices as well as killing off weaker competitors who depend on more costly electricity, and also deterring new miners from entering the business, thus clearing the field for those that survive this period by hunkering down. “It has been a very challenging environment for many cryptocurrency miners to maintain profitability,” explained the Bitfarms CEO. “At current network difficulty and BTC pricing, and assuming the average miner allocates 10% of power to cooling, a 13.5 TH/s S9 Antminer (arguably the most prevalent SHA-256 ASIC miner in use) is currently losing money at power costs above US$0.068 per kWhr. This break-even analysis doesn’t include operational overhead. Despite falling BTC prices, in 2018 we witnessed a period of exponential network hash rate growth as miners purchased earlier in the year were brought online.” “Many miners paid exorbitant pricing for hardware in late 2017 and during the first half of last year. Much of this hardware landed in expensive hosting facilities under contracts that are no longer economic,” Fulford told news.Bitcoin.com. “With the decrease in BTC pricing and increase in mining difficulty, these participants have failed to recover their original hardware costs which will certainly deter further investment. As in any nascent industry, markets will experience volatility and things will take time to mature. Going forward, external investment capital will be reserved for the best projects led by experienced operators.” The head of the mining company also sees some positive signs in the market. “In recent months, we are pleased to see a more normalized and somewhat predictable correlation between price and difficulty. With attractive current hardware pricing, specifically price/TH metrics, we have a unique investment opportunity and plan to aggressively pursue our operational expansion,” he said. “We believe the industry is shifting from hobbyist ‘garage’ miners to large industrial operators,” added the Bitfarms CEO. “The pricing and difficulty correlation looks to be stabilizing at these levels. We anticipate further growth in hash rates throughout 2019, however at a much more subdued pace to that witnessed last year. In a stable BTC environment, network growth will be heavily influenced by the undercapitalization of major hardware manufactures (i.e. smaller production runs), marginal hardware efficiency gains and a more measured pace of capital investment.” Do you think crypto winter is good for ecosystem development and company consolidation? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post How a Large Cryptocurrency Mining Operation Is Handling the Current Market appeared first on Bitcoin News.
Bitcoin News

Asus issues patch, but questions still remain about ShadowHammer

Asus released a patch in the wake of the ShadowHammer malware attack, but despite fix researchers are still left wondering how the attack was carried out in the first place. The company said its customer service has been reaching out the affected users and providing assistance to ensure that the security risks are being removed, according to a company statement. Asus Version 3.6.8 introduced multiple security verification mechanisms to prevent malicious manipulation from software updates or other means, implemented an enhanced end-to-end encryption mechanism,  and updated and strengthened its server-to-end-user software architecture to prevent similar attacks from happening in the future. Asus also developed an online security diagnostic tool to check for affected systems. Despite the updates researchers like Tim Erlin, vice president, product management and strategy at Tripwire, expressed concern relating to users that have already been compromised. “Affected users need to find out whether the attackers have actually targeted them, and then they need to assess the extent of the compromise,” Erlin said. “This attack leveraged a very broad platform, the Asus updates, but then strategically targeted a small set of those initially compromised for further attack,” he said. “The fix from Asus doesn’t help us understand who was targeted and why.” Erlin also pointed out that we still have little information about how exactly Asus was compromised and that sharing this information would be good for the industry as a whole. Organizations can efficiently and effectively manage these multi-faceted risks by working together on a common language and expected practices, saidMike Jordan, senior director of The Shared Assessments Program. “Our members are discussing how to best address these threats in our working groups, especially as they pertain to Operational Technology (OT) risks to the plant floors of manufacturing, utility, and energy companies,” Jordan said. “We’ve found that the best way to address these kinds of third party risks is by working together with all parties, including the purchasers, the vendors, and the service providers that service and secure them.” The post Asus issues patch, but questions still remain about ShadowHammer appeared first on SC Media.
SC Media

Bitmain Says It Won’t Give Up on World’s Biggest Cryptocurrency IPO

Bitcoin mining giant Bitmain has officially announced its new CEO and says it will restart the IPO listing process sometime in the future. The company endured a difficult 2018 with administrative upheavals, staff layoffs, and significant losses. Bitcoin Mining Giant Gets New CEO In the latter part of 2018, Bitmain laid off a couple of departments amid reports of financial difficulties. In a blog post published on Tuesday (March 26, 2019), the company explained the decisions taken as part of its efforts to align its business model. An excerpt from the statement reads: It was a difficult but necessary decision as we continue to build a long-term, sustainable and scalable business. We did our best to compensate our employees above the legal requirement. Bitmain also made some changes to its leadership structure with Haichao Wang, the former Engineering chief appointed as the new CEO. Co-founders Jihan Wu and Ketuan Zhan remain directors of the company and continue to have a say in “big decisions.” Bitmain Will Restart IPO Listing Process As reported by Bitcoinist on Monday, the Bitmain IPO application at the Hong Kong Stock Exchange (HKEX) expired after six months. According to the company, regulators and other mainstream stakeholders aren’t yet sold to the immense potential of the emerging cryptocurrency industry. In the meantime, Bitmain says it will restart the application at some time in the future. Despite the failure of its first IPO application, the company said the process did deliver some positives for the company especially in the area of financial transparency. Concerning transparency, Bitmain is yet to publish its financials for the second half of 2018. Speculation is rife with reports of huge losses for Q3 2018 of about $740 million. Any attempt to refile another IPO application will see the company being forced to publish its financial report for Q3 and maybe even Q4 2018 depending on the reporting period stipulated by the stock exchange operator. Bitmain Will Focus on Innovation and AI Bitmain also revealed that its focus for 2019 will be on streamlining its business process to focus on innovation in both the cryptocurrency and artificial intelligence (AI) market. Back in February 2019, Bitcoinist reported on the company’s new 7-nm chip touted to deliver more efficient Bitcoin mining. On paper, the new chip will offer about a 28.6 percent improvement in power efficiency, compared to previous iterations of the company’s 7-nm chip. For innovation in the AI scene, the blog post also mentions agreements already inked with important stakeholders across China. Bitmain says it plans to lead the way in terms of cutting-edge innovation for neural processors. What do you make of Bitmain’s stated goals for 2019 after the difficulties experienced in 2018? Share your thoughts with us in the comments below. Image courtesy of Shutterstock. The post Bitmain Says It Won’t Give Up on World’s Biggest Cryptocurrency IPO appeared first on Bitcoinist.com.
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