Cryptocurrency mining equipment manufacturer Bitmain has launched a new Application Specific Integrated Circuit (ASIC) Ethereum mining machine AntMiner E9 will start selling on Wednesday (today).
The company said on Twitter that its new Ethereum mining device has a hash rate of 2,400M, a power consumption of 1,920 watts, and a power efficiency of 0.8 joules per minute.
New Ethereum Mining Device Delivers Power Equivalent to 25 RTX 3080 Graphics Cards
According to Bitmain, the new E9 is equivalent to 25 RTX 3080 graphics cards. Sales began at 9am on Wednesday.
The new model was announced about a year ago at a time when ETH mining revenues were on the rise.
The launch comes despite Ethereum’s transition from a Proof of Work system to a Proof of Stake system, which is expected to happen later this year.
After the merger, called Merge, this hardware can also be used to mine other cryptocurrencies based on the Ethash algorithm.
In April 2021, Ethereum Miners generated $1.68 billion in revenue, while the following month hit an all-time high ($2.4 billion). But revenues have fallen significantly since then, to $549.58 million last month.
In the Proof of Work system, miners use their own devices to solve complex algorithms and thus receive cryptocurrencies such as ETH as a reward.
This system has been widely criticized for requiring a lot of energy and raising environmental concerns.
In response to environmental concerns, the ETH ecosystem has decided to switch to the Proof of Stake mechanism, which is approximately 99.9% more efficient.
*Not investment advice.