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Over Ten Chinese Crypto Miner Makers are Speeding up Developing New-type ETH Miner

Ethereum mining industry comes to a frenzy as the ETH price previously hit about $620 record high. At least 10 Chinese companies are trying to develop new Ethereum mining machines.

Rumors about Bitmain’s ETH miner E9 and FPGA are rampant

In July 2020, the monitoring data showed that an ETH mining machine named “E7” produced by Bitmain was in the process of mining. The maximum computing power of a single machine was about 800M, and the remnant was about 500-700M, but there were no mass production sales.

Recently, the rumor about the E9 is spread in the market again. In an internal meeting, Micree Zhan, Bitmain’s co-founder once said it would tape Ethereum chips in September. However, after Wu Jihan took back the leader position of Bitmain, this project was abolished, but it does not rule out that it will be started again after Micree Zhan regain the control of the company in the future. The information about E9 in the market is probably released by Zhan to sell futures to obtain cash flow. Theoretically, the performance of E9 is amazing as it is twice that of E7.

At present, Ethereum is starting the first phase of Ethereum 2.0 from POW to POS. It is generally believed that it will take about 2 years to complete the transfer, which means that old-type Ethereum miners still have two years to work. However, other coins mined by POW video card can be mined after the expiration of the mining period, such as conflux, which is popular recently.

In addition, the DAG in December this year will exceed 4G, which will lead to the fact that the mining machines with 4G video memory can no longer mine Ethereum. This batch of video cards may be used to transform or flow out of the mining industry. It is known that the computing power provided by these video cards accounts for about 30% of the total network hashrate of Ethereum.

Nevertheless, Ethereum mining machine can cover the cost itself many times in 2 years when the coin price keeps high. The cost cover period of video card miner is about 10 months, while that of Antminer E7 is 4-5 months. In fact, in 2020, it is very obvious that Ethereum mining will be more active than bitcoin mining.

Bitmain’s ASIC mode has the highest cost and computing power, but it is likely to cause Ethereum developers to speed up the algorithm modification. Therefore, many Chinese ETH miner makers are secretly researching and developing their own machines and selling them to big miners they are familiar with.

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